GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
GIFT Nifty ended 26.50 points or 0.11% up at 24,806.50 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 ended down by 72.95 points or 0.29% to settle at 24,781.10 while the BSE Sensex fell 73.48 points or 0.09% to 81,151.27.
“The markets experienced volatility and ended nearly flat, primarily in response to mixed earnings reports. After an initial uptick, Nifty saw a sharp decline and fluctuated within a narrow range, closing at 24,815. Most sectors faced pressure, with metal, IT, and FMCG stocks leading the losses. The broader indices also dipped, shedding nearly 1.5% each,” said Ajit Mishra – SVP, Research, Religare Broking.
Also Read Stocks To Watch: Infosys, Wipro, Axis Bank, Reliance Industries, Tata Chemicals, Zomato, Adani Enterprises, L&T, Jio Financial, Oberoi Realty Stocks To Watch: Reliance Industries, Bajaj Auto, RVNL, Oberoi Realty, GMR Airports, Cochin Shipyard, Infosys, Wipro Stocks To Watch: HDFC Bank, BSE, Reliance Power, Bank of Baroda, Bajaj Finance, Avenue Supermarts, Aarti Drugs, Diffusion Engineers Stocks To Watch: Suzlon Energy, Reliance Power, Mankind Pharma, ITC, Maruti Suzuki India, Hero MotoCorp, Coal India, KRN Heat Exchanger
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Mishra also added that despite selective rebounds in heavyweight stocks, supported by earnings, most gains appear unsustainable, mainly to prevailing bearish sentiment. We may see consolidation in the current scenario in Nifty however the overall tone is expected to remain negative. Traders should maintain a stock-specific strategy, focusing on risk management.
Stocks to Watch on October 22, 2024
Bajaj Housing Finance
The company has reported a 21% year-on-year (YoY) increase in net profit, reaching Rs 545.6 crore for the second quarter ending September 30, 2024. This compares to a net profit of Rs 451.1 crore in the same period last year, according to the company’s regulatory filing. Revenue from operations also saw a 21.1% rise, coming in at Rs 2,410 crore compared to Rs 1,911.5 crore in the year-ago quarter.
Jana Small Finance Bank
The private sector lender reported a 21.3% year-on-year (YoY) decline in net profit,
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