Trade Spotlight | What should you do with Canara Bank, GMDC, Shriram Transport?

Trade Spotlight | What should you do with Canara Bank, GMDC, Shriram Transport?

Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when the market resumes trading today







Sunil Shankar Matkar









January 28, 2022 / 07:05 AM IST





Trader Spotlight



After a day of rebound, the market was caught in a bear trap once again with the benchmark indices correcting a percent, weighed down by FMCG, IT, pharma and metal stocks on Thursday, the expiry day for January futures and options contracts. Hawkish US Federal Reserve commentary, rising oil prices and consistent FIIs selling had dented the market sentiment.

The BSE Sensex fell nearly 600 points to 57,277, and the Nifty50 declined nearly 170 points to 17,110, while the Nifty Midcap 100 and Smallcap 100 indices were down 1.05 percent and 0.73 percent.

Stocks that were in focus include Canara Bank and Shriram Transport Finance Company which were the biggest gainers in the futures and options contracts, rising 8.76 percent to Rs 240.80 and climbing 6.38 percent to Rs 1,241.10, while Gujarat Mineral Development Corporation was locked in the 10 percent upper circuit at Rs 110.70.

Here's what Shrikant Chouhan of Kotak Securities recommends investors should do with these stocks when