Overnight Digest: Keep a watch on these stocks for September 7
On Monday, the bullish momentum in the domestic benchmark indices was led by the IT and Realty stocks. Meanwhile, bank, power and oil & gas stocks witnessed selling pressure. On the other hand, in broader markets, the BSE Smallcap and Midcap indices ended in green.
Following stocks are likely to be on the radar for Tuesday's trading session :
NALCO - The stock was up by more than 7 per cent in Monday's trading session. It hit the price of Rs 100 per share for the first time since 2011 and was at a 10-year high price on Monday. Watch out for this stock in Tuesday's trading session.
Welspun India - The company has now become the first Indian company to receive one of the stringent and most recognized quality approvals i.e. US Food and Drug Administration (FDA) 510 (k) clearance for its 3 Ply Surgical Masks. The stock was buzzing on Monday zooming 9.52 per cent up on BSE. It is likely to be on the watchlist on Tuesday.
ICICI Lombard General Insurance Company - The company announced that it has received a final nod from the Insurance Regulatory and Development Authority of India (IRDAI) for the proposed Scheme of Arrangement amongst ICICI Lombard and Bharti AXA General Insurance Company.
IRCTC - The stock price of the company has crossed the Rs 3,000 mark and hit a record high of Rs 3,041.20. The stock has formed green candles for three consecutive trading sessions and is forming chart formations bullish in nature. There was a spurt in volumes in Monday's trading session as compared to similar volumes recorded in the previous two trading sessions. An observation turning eyes is that the stock has been constantly trading above the 20 and 30-day moving averages for the previous 9 consecutive trading sessions. Keep a close watch on this stock on Tuesday.
Realty Stocks - The realty stocks have been continuing their rally. The BSE Realty index was up by 2.97 per cent on Monday. Prestige Enterprises, Oberoi Realty and Sobha were the top gaining stocks within the index. Realty stocks are likely to continue being on the radar for the next couple of trading sessions.