Top 10 stocks to watch out for today

14 Jun 2022 , 07:52 AM

As fears rise that the Federal Reserve’s projected aggressive interest rate hikes would force the economy into a recession, U.S. shares fell on Monday, with the S&P 500 confirming it is in a bear market.

According to a widely used definition, a bear market began when the benchmark S&P index fell for four consecutive days, dropping more than 20% from its most recent record closing high. With this in mind, the outlook for today should remain on the bearish side.

1. Life Insurance Corporation (LIC):

Stockholders remained nervous ahead of the end of the lock-in period for anchor investors in LIC’s IPO, therefore the downturn in LIC shares continued for the 10th straight session. On Monday, the company’s stock fell below Rs700 per share. On the BSE, its stock fell 5.6%. The selling is expected to continue further into the week.

1. RBL Bank:

The stock of the private sector lender plummeted after brokerage company CLSA claimed RBL Bank’s recent appointment of R Subramaniakumar as Managing Director and CEO raises various concerns. The bank’s stock was the worst performer on the Nifty500, closing 22.67% lower.

1. Bajaj Finserv:

The stock was the biggest loser of the Nifty 50 losing 6.67% in yesterday’s session.

1. Glenmark Pharmaceuticals:

The US FDA will begin inspecting Glenmark’s Baddi factory today. In October of this year, the factory received a warning notice. The factory produces both solid and liquid oral medications. Glenmark Pharmaceuticals’ stock fell approximately 3.3 percent on the BSE.

1. Bajaj Finance:

After the firm stated that it has raised its interest rates by 20 basis points, the stock was among the top losers in the Nifty 50 tumbling 5.21%.

1. Hindalco Industries:

The stock fell for the 5^th straight trading session yesterday with the stock price now at 367. It fell 4.86% yesterday.

1. Coal India:

With the entire market sentiment being bearish, the metals & mining sector took a hit.

1. Bajaj Auto:

The stock was among the very few that ended in green yesterday rising 0.08%. Keeping in mind the extreme bearishness the stock is quite formidable for the long term.

1. Nestle India:

As tough times are not expected to affect the FMCG sector, Nestle was the top gainer yesterday rising 0.49%.

1. Tata Motors:

The company recently outsold Hyundai to become the second-largest seller of automobiles in the country. This comes after consecutive successes from cars like Safari and Nexon.