Daily stock market roundup

NIFTY clocks best weekly gains to ignite the corporate earnings season rally. The 50-share NSE index NIFTY posted a weekly gain of 2% and settled at 10331.60 on Friday. The Indian benchmark index NIFTY advanced for the second week in a row and registered some best weekly gains in over two months.  The sentiment at traders and investors’ desk are pleased all over the week on optimistic RBI growth outlook, sustained foreign fund inflows and helpful global cues. The start of the fiscal year 2018-19 praised the bulls and encouraged investors who bothered on latest global trade war tensions to focus on stocks that are more dependent on domestic demand. 

Looking overseas, European markets trading broadly lower tracking Asian markets which finished mixed to lower on Friday. The Global markets have had a bumpy ride in last few sessions as traders’ mood shifted from sadness to happiness and back again to sadness over the scene of a trade war between the world’s two biggest economies.

Nine out of eleven sector gauges compiled by the NSE ended higher led by NIFTY PHARMA, NIFTY PSU BANK, NIFTY REALTY, NIFTY FIN SERVICE, NIFTY FMCG and NIFTY BANK as top gainers. On the flip side, NIFTY IT and NIFTY METAL are the only losers.

From the NIFTY 50 basket of shares, LUPIN, BPCL, TITAN, HINDPETRO, ADANIPORTS and BAJFINANCE outperformed as top gainers while BHARTIARTL, INFY, VEDL, COALINDIA, HCLTECH and BAJAJ-AUTO are top losers.

Top stocks to watch on Monday 9 April

PNB: This stock surged by 5.31% and to close at Rs.102.15 on Friday. This stock trading volume inflated 116% with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.92.

BHARTIARTL: This stock dropped by 2.27% and to close at Rs.384.95 on Friday. Derivative traders were aggressive in adding short positions and Open interest increased by 3.06%. This stock is currently trading below its recent support zone and the near-term resistance is seen around Rs.427.

RCOM: This stock surged by 4.51% and to close at Rs.24.35 on Friday. This stock trading volume inflated 88% with numerous intraday trades. This stock is trading inside the trading range and the support is seen around Rs.21 and resistance is seen around Rs.27.

IDEA: This stock weakened by 2.54% and finished at Rs.74.95 on Friday. Derivative traders were aggressive in adding short positions and Open interest increased by 5.27%. This stock is currently trading below its recent support zone and the near-term resistance is seen around Rs.83.

JUBLFOOD: This stock surged by 4.07% and settled at Rs.2430.35 on Friday. Derivative traders were aggressive in adding long positions and Open interest increased by 25.78%. This stock is currently settled above the recent resistance zone and the short-term support is seen around Rs.2006.

ALBK: This stock strengthens by 3.48% and settled at Rs.53.5 on Friday. This stock trading volume inflated 79% with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.44.

FEDERALBNK: This stock surged by 4.01% and ended at Rs.97.25 on Friday. This stock trading volume inflated 63% with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.89.

HAVELLS: This stock gained by 4% and to close at Rs.533.15 on Friday. This stock trading volume inflated 146% with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.486.

GMRINFRA: This stock surged by 6.63% and finished at Rs. 20.1 on Friday. This stock trading volume inflated 2.5 times with numerous intraday trades. This stock is currently settled above the recent resistance zone and the short term support is around Rs.16.

LUPIN: This stock trading volume inflated 319% with numerous intraday trades at last trading session. This stock is currently settled above the recent resistance zone and the short term support is around Rs.734.