These stocks are likely to be in focus on June 17

These stocks are likely to be in focus on June 17

by 5paisa Research Team Last Updated: 2022-06-16T16:50:06+05:30

The benchmark indices closed deep in red in Thursday's trading session with Sensex closing 1,646 points down from the day's high to end at 51,496 level and Nifty50 touching a low of 15,344 level during the day, before marginally closing at 15,361 level, down 332 points.

The steep fall in domestic markets came as recession fears gripped the global markets. Fed hiked rates by 75 basis points, the highest since 1994 which raised the concerns over increasing inflation. On the sectoral front, the sectors which were the worst hit were the Nifty Metal index contracting 5 per cent. Meanwhile, Nifty Realty, Auto, Bank, and IT indices declined over 2% each.

Keep an eye on these stocks for Friday’s trading session

Tech Mahindra - On Thursday, the shares of Tech Mahindra touched a 52-week low of Rs 1,012.50 per share. During Q4FY22, the company reported weak margins after which the stock dropped substantially and almost halved its 52-week high level. The stock closed the trading session 4.44% lower.

Tata Consultancy Services - The shares of TCS traded 2% lower on Thursday despite the company announcing that it has been selected by QIAGEN, a leading global provider of Sample to Insights solutions in life sciences and molecular diagnostics, as the strategic partner for its cloud transformation journey. QIAGEN is investing in an ambitious cloud transformation and has partnered with TCS. TCS’ team of cloud solution experts will work closely with QIAGEN to design, implement and manage a cloud first model.

Bharti Airtel - Bharti Airtel announced the launch of its Fiber-To-The-Home (FTTH) broadband service – Airtel Xstream Fiber in Ladakh and Andaman and Nicobar Islands. Airtel has become the first private Internet Service Provider (ISP) to roll-out FTTH broadband in these remote geographies and bring world-class digital access to customers by connecting them to the data superhighway. The shares of Bharti Airtel sank beyond 4% in Thursday's trading session and are likely to be in focus on Friday.

Bullish Engulfing pattern - Bullish Engulfing Pattern was seen in Teamlease, Rama Vision, California Software, KP Energy, Agro Phos India and Gogia Capital Services. Bullish Engulfing Pattern indicated buying in the underlying counter. These stocks may remain in limelight on June 17.

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