DSIJ Mindshare

Following the benchmark indices, S&P BSE 100 index too tumbled to close down by 0.6 per cent. However, three stocks listed on BSE 100 category hit 52-week high levels including Bajaj Finserv, Bajaj Finance and Page Industries. 

Indian stock markets turned subdued at the start of the week, despite a very sharp upside and positive closure in the last week. Nifty Auto index which shed more than 1 per cent is the top sectoral loser. Tata Motors which is a part of Nifty50 and forms almost 10 per cent of Nifty Auto, has tumbled nearly 4 per cent and was the top loser in both the indices on Monday.

Indian benchmark indices which remained subdued for almost the entire trading session, gave the last hour bounce back to close nearly 0.7 per cent up. Broader markets too closed in green but underperformed the benchmark indices. All the sectors closed in the positive territory where pharma followed by all banking sectoral indices and FMCG outperformed the markets.

Dr Lal PathLabs gave its prolonged multiple resistance breakout on Friday in the zone of 920-930 levels. The stock should sustain 930-932 levels on all daily, weekly and monthly closing basis to witness significant upside in future.

Brent oil rose on Friday after witnessing three consecutive red days as Russia and Saudi Arabia called for an increase in the output. The outcome of the meet has been discounted and Brent rose on Friday expecting a output hike by OPEC in the meeting scheduled later during the day.