Overnight Digest : Stocks to be watched out for on November 1
Benchmark indices ended on weak note for the third consecutive session on October 29 with Nifty closing below 17,700 level. At close, the Sensex was down 677.77 points or 1.13 per cent at 59,306.93 level, and the Nifty was down 185.60 points or 1.04 per cent at 17,671.70 level.
Among sectors, bank, IT energy, power and oil & gas indices ended in the red, while buying was seen in the realty, pharma, metal and auto names. The BSE midcap and smallcap indices ended with marginal change.
Keep a watch on the following stocks for Monday's trading session :
Dr Reddy’s Laboratories: The shares of Dr Reddy’s soared by more than 6 per cent on Friday. The shares jumped higher with spurt in volume as the results declared were better than the estimates. A bullish engulfing pattern was seen in the daily charts of Dr Reddy’s indicating strong buying by the bulls. The shares of Dr Reddy’s will be in focus on Monday.
Voltas: The shares of Voltas jumped higher by more than 4 per cent, also forming a long green candle in Friday trading session. Almost a bullish engulfing like candle was formed in Voltas in Friday trading session. The optimism in Voltas was due to the better than estimated results. Voltas stock price will be in focus on Monday, next week.
United Spirits: The shares of United Spirits made afresh all time high on Friday after jumping by more than 6 per cent. The shares are trading with a price volume breakout after the company reported better than estimate earnings. United Spirits (USL) reported higher-than-expected Q2FY22 revenue and adjusted EBITDA (ex-one-offs) growth of 14% YoY and 29% YoY, respectively. Gross margin expanded by 207bps YoY, but dipped 41bps QoQ. The shares of United Spirits will be in focus on Monday next week.
Goldstone Technology: The shares of Goldstone Technology have good strength and owing to heavy buying the stock was locked in the upper circuit when the BSE Sensex tanked by more than 1.1 per cent on Friday. The shares of Goldstone Technology will be in focus on Monday next week.