The S&P BSE Sensex rose 90 points while the Nifty50 closed above 22,300 levels. Sectorally, buying was seen in FMCG, consumer durables, realty, and telecom stocks while some selling was visible in metal, healthcare, oil & gas and energy stocks.
While the volatility has been in nifty every now and then, the difference this week was that the mid-cap segment also participated in the correction and breadth was negative. This is indicative of profit booking happening at the broader market level. At this point of time, one cannot rule out volatility with strong bearish bias and more damage to stock prices in the mid-cap segment. In such times, if one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Bharti Airtel: Incorporated on April 20, 1995, Bharti Hexacom is into telecommunication business in Rajasthan and North East Circle. The company claims to be the largest mobile telephony services in Rajasthan and the North Eastern regions of India. It also provides fixed-line and broadband services in the state.