National Peroxide surged 11.3% on more than 3x the 50-day average volume in today’s session. The Company reported stellar Q4 numbers on May 24, delivering revenue and EPS growth of 44% and 138% y/y, respectively. The stock is trading 19% above its pivot price of Rs 2,898.
Today’s Action:
Benchmark indices post losses in a volatile session; escape distribution day.
Daily Market Review:
The Indian stock market snapped its three-day winning streak amid high volatility.
Despite weak global cues, the benchmark indices got off to a decent start. However, early-session gains were erased as rupee depreciation hurted market sentiment.
Continuous foreign outflows and rising crude oil prices in the recent times have weighed on the Indian currency. Continue reading “Daily Big Picture – Market Reverses as Bulls Take a Breather”
GNA Axles found favour with investors, as the stock rallied 10.6% on heavy volume. The Company reported strong set of numbers during market hours today. Its sales grew 62% y/y, while EPS jumped 169%. The stock closed 5.7% below its all-time high of 579.
Today’s Action:
Benchmark indices extend winning streak to three sessions; broader market outperforms.
Daily Market Review:
The Indian stock market continued from where it left last week. Both frontline indices gathered strength as the day progressed.
In the end, the Nifty and the Sensex finished with impressive gains of 0.8% and 0.7%, respectively.
With crude oil prices softening a bit and the Indian rupee pulling back after hitting a 16-month low, market bulls kept bears at bay for the third straight session. The 10-year bond yield dropped 0.8% to 7.73% – the second consecutive session of decline. Continue reading “Daily Big Picture – Market Scores Hat-Trick of Gains”
This year has been a sloppy one for midcap and smallcap stocks. While India’s key composites have corrected 4-5% from their all-time highs, the Nifty Midcap and Smallcap indices have seen massive cuts of 15-20%. Some leading stocks of 2017 have tumbled more than 20% from their highs.
To say the least, it has been a challenging period to find stock breakouts working for you. Such episodes of market uncertainty often result in uneven performance. That said, we think the correction in the midcap and smallcap space should serve well in the coming future.
After a strong run-up, a stock will pause and consolidate gains. This is the basing process where a true market leader catches its breath in preparation for another big move up. Recognize the below five signs of a healthy base: the healthier it is, the better chance it has of delivering an explosive breakout.
