The downside momentum continued in the Indian stock market for the second consecutive session on Wednesday. NSE Nifty went down 100 points and closed at 17,898 levels whereas BSE Sensex shed 314 points and closed at 60,008 levels.
According to industry experts, the current market pattern indicates a sell-on-rise opportunity and the weakness seems to have gathered strength in the last couple of sessions.
The downside momentum continued in the Indian stock market for the second consecutive session on Wednesday. NSE Nifty went down 100 points and closed at 17,898 levels whereas BSE Sensex shed 314 points and closed at 60,008 levels.
According to industry experts, the current market pattern indicates a sell-on-rise opportunity and the weakness seems to have gathered strength in the last couple of sessions.
Here is the list of the top 10 stocks that are likely to be in focus on today’s trading session:
Paytm operator One 97 Communications: The company will make a debut on the bourses on November 18. The issue price has been fixed at Rs 2,150 per share.
Onelife Capital Advisors: Promoter Naig Pandoo Prabhakar further sold 7,00,566 equity shares in the company at Rs 18.63 per share on the NSE, the bulk deals data showed.
ITC Ltd: Is likely to spin off and list its wholly-owned software services business in the coming months at a valuation of Rs 20,000-25,000 crore. ITC Infotech provides technology solutions and services to enterprises across industries such as banking and financial services, healthcare, manufacturing, consumer goods, and travel and hospitality.
Zomato: Zomato UK, a step down subsidiary of the company, has been dissolved effective from November 16, 2021.
Apollo Hospitals: Shares of Apollo Hospitals Enterprise have outpaced peers, galloping 32 per cent over the past one month, in contrast to a 3 per cent fall in the broad Nifty 50. Much of this investor optimism has come on the back of the firm’s robust September quarter performance, released last week. The management’s upbeat outlook has also added to the enthusiasm of the Street.
Sapphire Foods: The company will list its shares on the bourses on November 18. The issue price has been fixed at Rs 1,180 per share.
Goyal Aluminiums: The company is proposing to invest and acquire 50,000 equity shares i.e. 33.33 percent of Wroley E India, for Rs 5 lakh.
Asian Paints: Asian Paints Ltd has been battling severe cost inflation, and its strategy of taking slow price hikes had become a sore point for its investors. But there is some relief for investors on this front. According to analysts at Edelweiss Securities Ltd, the market leader in decorative paints is taking another round of price hike in a month from 5 December.
Cadila Healthcare: The company received the final nod from the US FDA and 180-day exclusivity for Nelarabine injection used to treat certain types of Leukemia and Lymphoma.
PNB Housing Finance: The company on Wednesday said that the Securities Appellate Tribunal has allowed it to withdraw its appeal in the matter related to the Rs 4,000 crore Carlyle deal, which stands scrapped now.