Overnight Digest: Stocks to watch out for on December 06

Shreya Chaware
/ Categories: Trending, Mindshare
Overnight Digest: Stocks to watch out for on December 06

On the last day of the week, after a higher opening, the benchmarks indices failed to sustain the higher level and showed profit booking with Sensex settling at 57,696.46 level, lower by 1.31 per cent whereas Nifty ending at 17,196.70, down by 1.18 per cent.

However, global equities traded with slight gains recovering from the previous trading session's broad-based sell-off due to fears on new covid variant and the Fed chair’s comment on the bond-buying program.

Power Grid Corporation, Reliance Industries, Tech Mahindra, Asian Paints and Kotak Mahindra Bank were among the major Nifty losers. The gainers included UPL, BPCL, ONGC, IOC and L&T.

Keep a watch on these stocks on Monday:

Larsen & Toubro - The stock traded quite volatile in Friday's trading session. After gaining up to 2.43 per cent in the initial hour of the trading session, it gradually descended to end the week 0.6 per cent higher. The company has entered into a distribution agreement with Kemroc, a global manufacturer of attachments for excavators and backhoe loaders, that will facilitate Kemroc products to be distributed and promoted in the Indian market by L&T.

Hindustan Zinc - The stock has gained decently 4.31 per cent in Friday's trading session. The stock traded with a decent spurt in volumes and also has given a positive breakout indicated by RSI on the charts. The stock was infused with bullish sentiments on the news that the board of directors of the company will consider an interim dividend in the coming week. Keep an eye on this stock for upcoming trading sessions.

Upper Circuit Stocks - Ramco Systems, HCC and Aurum Proptech have locked in the upper circuit in the last trading session of the week. They are likely to be in focus on Monday.

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