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Monday Market Update: Aarti Surfactants, Pritika Auto Keep The Market Steady, L&T, Tech Mahindra, BPCL To Be In Spotlight Today
The week is very important for the stock market as the Union Budget 2023-24 will be announced on 1 February and the market is looking at the budget with hopeful eyes
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Last week spelled doom for the stock market. The impact of the Hinderburg report was seen not only in the market position and stocks of the Adani group, but on the entire market. Banks and LIC saw a big blow to their stocks too. On Friday, BSE Sensex fell 874 points to 59,330 and NSE Nifty fell 287 points to 17,604.35 points. Today i.e. on 30th January, predictions of a volatile market have been made by experts.
The Big Jump
Amidst the falling market on Friday, stocks of Aarti Surfactants saw a big jump. Trading at Rs 28.00 only, this stock saw a gain of a whopping 35.27 per cent and has given a return of 55.56 per cent in the last five days.
Pritika Auto Industries too saw a good gain of 17.94 per cent on Friday and closed at Rs 20.05. Its 52 week high is Rs 21, with a steady growth of 25.31 per cent in the last one month.
Bullish Signals In These Stocks
Momentum Indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Jyothy Labs, Ashok Leyland, Supreme Industries, Varun Beverages and Unichem Labs.
Shares of Supreme Industries also climbed in the declining market and closed at Rs 2,538 with a gain of 5.15 per cent. It has given a return of 33.81% in the last six months. Varun Beverages also was amongst the gainers on Friday. It is currently trading at Rs 1,247 and its 52-week high is Rs 1,432.45. At the same time, the shares of Unichem Laboratories did wonders on the last trading day of last week. With an increase of more than 10 percent, it closed at Rs 298.25. All these stocks are expected to rise even today.
Jyothy's stock closed with a boom even in the declining market. Currently, it is trading at Rs.205. Its 52 week high level is Rs 217.90. Shares of Ashok Leyland also registered a gain of 2.22 per cent on the previous trading day. Trading at Rs 149.60, the stock has given a return of 4.32 per cent in the last one month.
Q3 Results Expected Today
The Quarterly earning results of these companies are expected to be released today and will affect their stock market position - Larsen & Toubro, Tech Mahindra, Bharat Petroleum Corporation, Bajaj Finserv, Bajaj Holdings & Investment, CSB Bank, Emkay Global Financial Services, Exide Industries, GAIL (India), Inox Leisure, Laurus Labs, Mazagon Dock Shipbuilders, Nippon Life, India Asset Management, Punjab National Bank, REC, SRF, Trident and Welspun India.