The consolidated net sales reported in Q1FY21 came in at Rs 106.51 crore, which declined by 53.61 per cent YoY from Rs 229.59 crore in Q1FY20. 

Talking about the levels of Nifty, 11,530-11,600 seems to be the next hurdle for the index. On the downside, immediate support is seen around opening the upside gap area (11,412-11,371). Stocks in news: Axis Bank Ltd, Prince Pipes and Fittings Ltd, Indian Bank, Multi Commodity Exchange of India Ltd, Wipro Ltd, Karur Vysya Bank Ltd.

The month of August saw Sensex gain by almost 5 per cent. The bulls clearly have the momentum with them even as there are as many as 350 stocks that are constituents of BSE 500 that outperformed BSE 500 index in August.

Equity market performance in August has taken the market participants by surprise as BSE Small-cap index gained by 14 per cent in August itself. 

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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