Overnight Digest: Stocks to watch out on March 10

Overnight Digest: Stocks to watch out on March 10

Shreya Chaware
/ Categories: Trending, Mindshare

Barring metal, all other sectoral indices ended on a positive note with capital goods, auto and realty indices up 2-3 per cent.

On Wednesday, the bulls took the charge in the domestic equity markets as benchmark indices ended higher for the second consecutive day with Nifty closing above 16,300. 

The positive signs came on hopes of de-escalation of the Russia-Ukraine conflict after Ukrainian President Zelenskyy indicated that the country has cooled down regarding the interest in NATO membership, the main reason behind the war. 

At close, Sensex was up 1,223.24 points or 2.29 per cent at 54,647.33 level, and the Nifty was up 331.90 points or 2.07 per cent at 16,345.40 level.

Barring metal, all other sectoral indices ended on a positive note with capital goods, auto and realty indices up 2-3 per cent. In the broader markets, BSE smallcap and midcap indices gained 2 per cent each.

Keep a watch on these stocks for Thursday's trading session:

Bajaj Electricals - In an otherwise bullish market, the stock of Bajaj Electricals has dropped 5 per cent on Wednesday. The stock declined on concerns over the growth due to dull demand. As compared to a 6.6 per cent decline in BSE Sensex, the stock has plunged 11 per cent in the last one month. The stock has corrected 34 per cent from its 52-week high level of Rs 1,589 hit on September 17, 2021. The management of the company had said the recent quarter i.e. Q3FY22 witnessed the impact of increased commodity costs along with subdued demand scenario, leading to a deferral of price hikes for the consumer products business.

Airline stocks - The stocks of airline companies were seen flying high in Wednesday's trading session after the government announced the resumption of international flights from March 27, 2022. InterGlobe Aviation and Spicejet soared up to 8 per cent on the announcement regarding the removal of the ban on international flights. In comparison, the BSE Sensex was up 0.73 per cent at 53,814 levels. 

Sun Pharmaceutical Industries - On Tuesday, post-market hours, the company announced that its subsidiary, Taro Pharmaceuticals USA Inc, has completed the acquisition of subsidiary companies of Galderma. It paid USD 99.279 million for the entire transaction. The shares of this company gained 3.5 per cent in Wednesday's trading session, zooming 8 per cent in the past two trading days on the back of heavy volumes. The stock of the drugmaker was trading close to its 52-week high level of Rs 902.50 touched on February 4, 2022. The stock has closed above its 50 DEMA for the first time compared to a couple of previous trading sessions. Also, the MACD indicator is on a verge of giving a bullish crossover.

Cadila Healthcare- The company has received final approval from the USFDA to market Nitroglycerin Sublingual Tablets in the strengths of 0.3 mg, 0.4mg and 0.6mg (US RLD: Nitrostat Sublingual Tablets). Nitroglycerin Sublingual Tablets are used to relieve chest pain (angina) in people who have a certain heart condition (coronary artery disease). It may also be used before physical activities to help prevent chest pain. The stock has closed 4.19 per cent higher in Wednesday's trading session.

Previous Article Stocks to watch: These smallcap stocks will be in focus tomorrow!
Next Article Market watch: What does the F&O market suggest about trade on March 10?
Rate this article:
4.4

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR