Overnight Digest: Stocks to be kept an eye on April 20
HDFC, HDFC Life, SBI Life Insurance, HDFC Bank and Tata Consumer Products were among the top Nifty losers. Apollo Hospitals, Coal India, Reliance Industries, ICICI Bank and BPCL were the top gainers.
On Tuesday, the equity markets saw a highly volatile session and the benchmark indices ended lower with Nifty settling below 17,000 mark.
Heavy sell-off towards the end made the the indices slip down as they shed more than 1 per cent at close.Sensex was down 703.59 points or 1.23 per cent at 56,463.15, and the Nifty was down 215.00 points or 1.25 per cent at 16,958.70. About 1111 shares have advanced, 2216 shares declined, and 118 shares are unchanged.
On the sectoral front, IT, realty, FMCG, and power sector stocks crashed, while oil & gas managed to stay in the green. In the broader markets, BSE midcap and smallcap indices lost a percent each.
Keep a close watch on these stocks for Wednesday's trading session:
AU Small Finance Bank - In an otherwise weak market, the shares of AU Small Finance Bank have touched a record high of Rs 1,441, rising 4 per cent. This move came after the bank announced that its board has a plan to meet next week to consider a bonus issue proposal. The board will also consider the audited financial results for the quarter and financial year ended on March 31, 2022. On the daily chart, the stock has given a positive RSI breakout during Tuesday's trading session. Trading above the key moving averages, it has also broken the current resistance level. Keep a close watch on this stock for the upcoming trading sessions.
Sugar stocks - On Tuesday, sugar stocks tried to make the market sweeter at a time when it was going through a bland phase. The delicious performance was a recipe for expectations of strong operational performance, a conducive mix of ethanol towards B-heavy/juice (feedstock), and improved sugar realisations. While the majority of stocks were trading near their 52-week high prices, the shares of Mawana Sugars, Dhampur Sugar Mills, Triveni Engineering & Industries, Balrampur Chini Mills, Dalmia Bharat Sugar & Industries, and Dwarikesh Sugar Industries gained between 3 per cent and 9 per cent on BSE.
GAIL (India) - The stock of GAIL (India) is seen outperforming the markets on Tuesday. The shares gained up to 3 per cent ahead of the ex-date for share buyback on Thursday, April 21, 2022. On March 31, 2022, the board of directors of the company approved a buyback of 57 million shares at Rs 190 per share, totalling Rs 1,083 crore. On the daily chart, the stock has given a bullish RSI breakout. The stock has zoomed 15 per cent in past one month as compared to a 1 per cent decline in the BSE Sensex, beating the benchmark index.
TCS - The company announced that it has expanded its partnership with IRONMAN Group Oceania in a multi-year deal for Sun-Herald City2Surf, the world’s largest fun run. TCS will continue to power the official event app, enhancing the fun run experience with live results tracking and leader board data. It will also include custom City2Surf selfie frames and a personalised race-ready checklist. Taking place on August 14, 2022, and attracting an anticipated crowd of 80,000 plus runners, City2Surf will be held in person for the first time since 2019. The stock ended the trading session 1.87 per cent lower.