Overnight Digest: Stocks likely to be in focus on December 23
The Omicron concerns coupled with FII’s selling is likely keep investors in a cautious mode.
On Wednesday, markets extended the rebound for the second consecutive session and gained over a per cent on the back of firm global markets. After a gap-up opening, the benchmark continued to trade in a sideways range but the inclination remained on the positive side.The Omicron concerns coupled with FII’s selling is likely keep investors in a cautious mode.
All the sectoral indices ended higher with auto, bank, realty, capital goods, pharma, oil & gas, power, and metal indices gaining 1-3 per cent. In the broader markets, BSE midcap and smallcap indices added over 1 per cent each.
Keep a watch on these stocks for Thursday's trading session -
Cadila Healthcare - Zydus Cadila has received tentative approval from the USFDA to market Pimavanserin Tablets, 10 mg. Pimavanserin is used to treat the symptoms of a certain mental/mood disorder (psychosis) that might occur with Parkinson's disease. The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad. The stock of Cadila Healthcare has jumped 2.69 per cent in Wednesday's trading session.
ABB India - Board of Directors of the company approved the incorporation of a wholly-owned subsidiary and sale of the company’s turbocharger business as a going concern, on a slump sale basis to its wholly-owned subsidiary for a consideration of Rs 310 crore. The stock has been on a buzz today as it zoomed up to 4.8 per cent on BSE.
Larsen & Toubro - The construction arm of Larsen & Toubro has secured a significant order for its Buildings and Factories business from a reputed developer. The residential business of Buildings and Factories has secured this order to construct one of the largest residential townships in Bengaluru. The stock has gained up to 1.48 per cent in Wednesday's trading session.
Motherson Sumi Systems - Within the BSE Largecap index, the stock of Motherson Sumi Systems has taken a top position. On an intraday basis, it has recorded a rise of 4.88 per cent. On the charts, the stock has given a positive RSI breakout and has been trading in a bullish trend for the last two trading sessions. Hence, the stock is likely to be in focus on Thursday.
52-week high stocks - For two continuous trading sessions, the stocks of Minda Industries and TCI Express have made fresh 52-week highs. Keep a watch on these stocks for further trading sessions.