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Stocks to watch: Shares of firms like Axis Bank, Tech M, Vedanta, Delta Corp, ONGC, Torrent Pharma, and others will be in focus on Wednesday's trade.
On Monday, 2062 stocks advanced, 1675 declined and 170 remained unchanged, with an advance decline ratio of 1.23 on the Bombay Stock Exchange (BSE), indicating a negative closing of stocks in broader markets. Domestic equities prompted buying, notably in the IT sector, as a result of the global market's recovery following a big slump.
On Tuesday, 2212 stocks advanced, 1445 declined and 128 remained unchanged, with an advance decline ratio of 1.53, indicating a positive closing of stocks in broader markets. Ongoing concerns about continued global uncertainty hindered Indian shares' ability to sustain their upward pace, even in the face of supportive international markets. IT and pharmaceuticals, two industries strongly linked to the Western economy, suffered setbacks, while power stock and mid- and small-cap stocks linked to government spending and private capital expenditure, remained strong.
On Monday, 2025 stocks advanced, 1661 declined and 201 remained unchanged, with an advance decline ratio of 1.22 on the Bombay Stock Exchange (BSE), indicating a positive closing of stocks in broader markets. Strong results in the pharma and IT industries helped the Indian market start the week with modest gains. The market was cautious due to the upcoming release of inflation data and the RBI's monetary policy.
On Wednesday, 2028 stocks advanced, 1560 declined and 155 remained unchanged on the Bombay Stock Exchange (BSE), with an advance decline ratio of 1.3 indicating a positive closing of stocks in broader markets. As investors anticipated inflation data for both India and the US, the domestic market began to take a defensive attitude. The market's mood was impacted by China's deflationary trend and the downgrading of US mid and small-sized banks. However, a good uptick in the European market and the expectation that an upbeat RBI policy would not have an adverse effect on local economic developmen...