Here’s how analysts read the market pulse:
“While geopolitical tensions continue for the near term, better value buying opportunities are expected to emerge, offering attractive entry points to long-term investors,” said Vinod Nair, head of research at Geojit Investments.
European markets
European stocks fell on Friday as the US-Iran conflict raised fresh concerns about oil supplies, prompting traders to reconsider their expectations for a central bank rate cut. Europe’s STOXX 600 index fell 0.15% in dull trade, reversing an earlier gain of nearly 0.5% as oil prices appeared to stabilize.
tech view
The broader structure remains weak, and any pullback is likely to absorb selling pressure. Moving indicators and oscillators remain in sell mode on both daily and weekly charts. At the same time, the India VIX rose another 11% to approach the 20 level. Any further increase in volatility could strengthen downside risks.
Most active stocks in exchange terms
Mazgun Dock (Rs 3,155 crore), ICICI Bank (Rs 3,013 crore), HDFC Bank (Rs 2,970 crore), RIL (Rs 2,729 crore), LT Foods (Rs 2,436 crore), SBI (Rs 2,345 crore) and Commercial Engineering (Rs 2,345 crore) 7 crore) among active stocks worth Rs.7 crore. High performance on a counter in terms of value can help identify the counters that have the highest trading volume on the day.
Most active storage in volume terms
Vodafone Idea (Shares traded: 45,08,40,141), Commercial Engineering (Shares traded: 7,59,37,223), Ircon International (Shares traded: 6,71,15,792), Suzlon Energy (Shares traded: 6,30,57,57,57,57), LT Foods (Shares traded: 6,15,93,487). 5,63,52,435) and Reliance Power (traded shares: 5,06,62,050) were the most actively traded stocks in terms of volume on BSE.
Stocks show buying interest
Commercial Engineering, Kirloskar Bros, Aircon International, Radiku Khaitan, United Breweries, Bharat Dynamics and Aegis Vopak were among the stocks that saw strong buying interest from market participants.
52 weeks high
Among those that touched their 52-week highs were MRPL, Data Patterns, Kirloskar Oil, ABB Power, BEL and Astra Poly Tech.
Stocks have seen selling pressure
Among the names that witnessed significant selling pressure were LT Foods, Tejas Networks, Vedant Fashions, Godrej Properties, Mahanagar Gas, Ashok Leyland and Suven Pharma.
The sense meter helps with rooting
Of the 4,374 stocks traded on the BSE on Friday, March 6, 1,812 stocks advanced, 2,396 declined, while 166 stocks remained unchanged.
(Disclaimer: The suggestions, recommendations, views and opinions given by the experts are their own. They do not represent the views of The Economic Times.)
