Indian benchmark indices closed marginally lower with both Nifty and Sensex down by 0.17 and 0.2 per cent, respectively. Broader markets too remained flat to negative. Relatively lower volumes and 14-period RSI lying at 35 levels do not predict any direction for now. 

Zydus Wellness surged as much as 7 per cent from its previous close. The stock has surged nearly 42 per cent from the low of February 6, making a kind of V pattern on the daily time frame.

Aptech is moving almost consistently up with 7 per cent plus gains from previous close in an otherwise dicey market conditions. The move is after the stock took support at 61.8 per cent retracement and 200 days EMA level.

In the near future, Indian paper manufacturers are expected to feel the blow of the hiked imported pulp prices. Of-late, imported pulp prices have peaked to 7 year highs and are expected to remain higher for some period. 

Bank of Baroda, the public sector bank with 58.7 per cent government stake, surged more than 8 per cent influenced by the release of its Q3FY18 results at the end of last week. The bank succeeded in breaching its fifth consecutive day of consolidation with volume spurt.

This week saw the second consecutive week of downbeat for the IT stocks, where Nifty IT tumbled nearly 9 per cent from its all-time high. The prices fell up to 38.2 per cent retracement of the prior upward rally.

Indian sugar stocks were buzzing from the start of the week after the Union Government doubled import tax on sugar. The import duty on sugar was hiked to 100 per centon February 6. The stocks have duly broken their 5-10 days consolidation.

Well-before the Indian benchmark indices witnessed the reversal from their all-time high levels, the broader market Bulls were already exhausted and now the indicators and oscillators depict bottom finishing and reversal, may be in a couple of sessions.

Housing Development Finance Corporation (HDFC) is the top loser with 3.6 per cent losses. The stock dragged Nifty Fin Service which is currently the top loser amongst all sectoral indices falling 1.6 per cent down.

The company with highest market capitalization in the 2-3 wheeler segment, Bajaj Auto, posted its Q3FY18 earnings report on Friday. The stock witnessed tremendous volatility amid robust January sales and Q3 performance on one hand and a sharp plunge in the overall markets on the other hand.