Overnight Digest: Stocks to watch out for on October 22
On Thursday, sell-off continued in the equity markets due to weak Q2 results, bearish global market and profit booking in IT, metal and realty stocks.
Amid the selling pressure, the banking index, especially PSBs traded optimistic on good quarterly earnings. Meanwhile, high volatility insisted foreign and domestic institutional investors to remain net sellers.
Sensex plunged 336 points or 0.55 per cent whereas Nifty ended below 18200 declining by 88.5 points or 0.48 per cent.
These stocks are likely to be on the watchlist for Friday's trading session:
Wipro: The company announced the launch of a Technology Business Management (TBM) Practice as part of its strategic relationship with Apptio, a leading provider of technology business management (TBM) solutions that help organizations analyze, optimize, and plan technology spend.
Tata Motors - DVL: The stock has outperformed the benchmark indices and zoomed up to 10 per cent in Thursday's trading session. The stock closed at Rs 255.55 per share after the ace investor Rakesh Jhunjhunwala increased his stake in the company. Rakesh Jhunjhunwala has hiked his stake in Tata Motors DVR to 3.93 per cent in the September quarter from 1.97 per cent in the June quarter.
Bullish Moving Average Crossover: Jamna Auto gained by 6 per cent, Suven Pharma was up by 3.37 per cent, Metropolis Healthcare soared by 5.46 per cent, Bharti Airtel zoomed by 3.52 per cent and Poly Medicure was up by 5 per cent on Thursday. These trending shares made a bullish moving average crossover on Thursday and will be in limelight on Friday.
Bullish Stochastic Crossover: The shares of Endurance Technology, TNCS Clothing, Carborundum Universal, Adani Transmission and IIFL Finance displayed a bullish stochastic crossover on Thursday. These shares will be in focus on Friday.