The recent underperformance of the banking dedicated mutual fund scheme highlights one significant aspect of the stock market i.e. the best sectors are not immune to cyclicality.

Bajaj Finserv Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

Considering the daily timeframe, the stock has given a downward sloping trendline breakout formed by connecting swing highs from July 2020. Further, the breakout is supported by a robust volume of more than three times of 50 days’ average volume, indicating strong buying interest by the market participants.

Taking cues from global markets, the Indian market on Monday saw a broad-based rally, with Sensex jumping by 364.36 points or 0.95 per cent and closing at 38799.08 levels. Nifty managed to close at 11466.45 levels, up by 94.85 points or 0.83 per cent.

Steel Strips Wheels Limited (SSWL) announced that the company has bagged new export orders for over 3,200 wheels for EU Truck and US Mobile Home Market. Reacting to the news, the stock of the company gained by nearly 7 per cent during Monday’s trading session.

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BASF continued its gaining streak on Monday as the stock of the company rose for the fifth straight trading session. The stock recorded its fresh 52-week high at Rs 1,870 since October 2018.

The market opened in green on August 24, 2020, overall volumes in futures & options currently stand at 1,25,46,616 crore contracts with a turnover of Rs. 8,85,496.25 crore.

Granules India informed the bourses on Saturday that United States Food & Drug Administration (USFDA) has approved the abbreviated new drug application (ANDA) filed by its wholly-owned foreign subsidiary, Granules Pharmaceuticals, Inc (GPI) for Ramelteon tablets, 8 mg

The market opened in green on August 24, 2020.