Overnight Digest : Stocks to be kept an eye on March 15
Infosys, SBI, HDFC Bank, Maruti Suzuki and Axis Bank were among the top Nifty gainers, while losers were IOC, ONGC, HUL, Tata Motors and HDFC Life.
On Monday, the benchmark indices ended in green for the fifth consecutive session on pulled up by IT, auto and banking names. The equity markets are expected to remain volatile this week due to US Federal Reserve's interest rate decision and the expectations on domestic inflation data. Additionally, Russia and Ukraine tensions still continue.
Sensex closed 935.72 points up or 1.68 per cent higher at 56,486.02 level, and the Nifty closed 240.80 points or 1.45 per cent higher at 16,871.30 level. The BSE midcap index ended flat, while smallcap index gained 0.3 per cent.
On the sectoral front, IT and bank indices gained 2 per cent each, while BSE Realty index squeezed nearly 2 per cent. Happiest Minds was the top IT gainer which soared 10 per cent in BSE IT index while HDFC Bank was the top banking gainer which zoomed 3.25 per cent.
Keep a watch on these stocks for Tuesday's trading session :
Vodafone Idea - The company has partnered with diversified gaming and sports media company Nazara Technologies to launch a gaming service to its subscribers. Called Vi Games, the service will offer more than 1,400 Android and HTML5-based mobile games across 10 popular genres such as action, adventure, arcade, casual, education, fun, puzzle, racing, sports and strategy. This will comprise a mix of free and paid mobile games. The company said its games offering will initially offer casual games and gradually expand to host social games and esports in the future. The stock has closed 2.4 per cent lower on Monday.
One97 Communications - The shares of this company plunged nearly 14 per cent to hit a new low of Rs 672 in Monday’s trading session after the Reserve Bank of India (RBI) restricted Paytm Payments Bank (PPBL) from onboarding new customers with immediate effect because of certain supervisory concerns. The stock is trading 69 per cent lower as compared to its issue price of Rs 2,150 per share.
Jubilant FoodWorks - Pratik Rashmikant Pota stepped down as the Chief Executive Officer (CEO) and Wholetime Director of Jubilant FoodWorks with effect from June 16, 2022. Reacting to the news, the stock price of the company crashed down to 15 per cent and hit a 52-week low of Rs 2,445.35 on BSE. On the charts, the MACD indicator is on a bearish crossover whereas RSI indicator has entered a negative territory in Monday's trading session. The stock is trading decently lower than its 50-day moving average and is likely to be in focus on Tuesday.
HDFC Bank - On Monday, the stock zoomed 3 per cent after RBI lifted restrictions imposed on the private sector lender for its business generating activities planned under the Digital 2.0 programme. In the past one week, HDFC Bank has gained 8 per cent and outperformed the market in comparison with a 6 per cent rise in the BSE Sensex. However, in the last six months and during a year, it has underperformed by falling 7 per cent and 8 per cent, respectively as compared BSE Sensex which was 4 per cent down and 10 per cent up, respectively.
Titan - The shares of Titan closed at a day's high also forming a Marubozu candlestick charting pattern. It is one of the bullish chart patterns where the closing happens at the highest point of the day. This indicates a strong possibility of follow up buying in the next trading session. Keep an eye on Titan in tomorrow trading session.