Overnight Digest: Stocks to be watched on June 17
On the sectoral front, all indices ended lower while metal index lost its glaze falling over 5 per cent.
The equity markets closed deep in red on the weekly expiry day and ended down over 2 per cent due to weak global cues. The benchmark indices opened higher as a reaction to the rate hike by the US Fed, but couldn’t hold the gains for long and traded lower as the trading session ended.
At the close, Sensex was down 1,045.60 points or 1.99 per cent at 51,495.79, and the Nifty slipped 331.60 points or 2.11 per cent settling at the 15,360.60 level. Hindalco Industries, Tata Steel, Coal India, Tata Motors and ONGC were among the top Nifty losers, while gainers were HUL, Nestle India and Britannia Industries.
On the sectoral front, all indices ended lower while metal index lost its glaze falling over 5 per cent. The top stocks dragging the index were Vedanta, Jindal Steel, Hindalco Industries, Tata Steel and NMDC. In the broader markets, the mid cap and small cap indices shed over 2 per cent each.
Add these stocks to your radar for Friday's trading session :
UPL - The shares of UPL slipped down 4.37 per cent in Thursday's trading session. It announced that through its subsidiary USCL, it has acquired Kudos Chemie for Rs 40 crore, and is to invest Rs 237 crore in Kudos for 2 years as per the resolution plan approved by NCLT. Kudos manufactures speciality chemicals used as beverage and pharmaceutical ingredients and has a manufacturing facility near Chandigarh.
Voltamp Transformers - HDFC Mutual Fund through its several funds acquired 50,000 equity shares in Voltamp Transformers via open market transactions on June 14. With this, its shareholding in the company increased to 5.25 per cent, up from 4.91 per cent earlier. The shares of Voltamp Transformers touched a 52-week high of Rs 2,544.95 per share and ended the trading session 0.33 per cent higher.
Aviation stocks - The shares of Aviation companies traded lower in Thursday's trading session as rising fuel prices and falling rupee against the dollar raised concerns over weak earnings by the companies. Owing to the same, the shares of InterGlobe Aviation, which operates IndiGo airlines, and shares of SpiceJet tumbled up to 6 per cent on an intraday basis.
Price Volume Breakout - The shares of SIS, ISGEC Heavy Engineering, VIP Industries, GICRE, Gujarat Pipava, Gujarat Alkali, Cera Sanitaryware and Vakrangee outperformed markets on a weak day. Price volume breakout in these trending stocks suggests that these stocks will be in limelight in coming sessions.
Marubozu Candlestick - The shares of Sikko Industries, Premier Capital Services, Ramco Systems, Yaari Digital and Vaswani Industries managed to close at the day's high, thus forming a long Marubozu Candlestick pattern which indicates bullishness. These shares may remain in focus on June 17.