Stock picks of the day: Keep an eye on the globe and hedge long positions

Markets consolidated further last week and settled almost flat. Participants were in a cautious mood from the beginning citing mixed cues. Weak global cues combined with not so encouraging local news weighed on the market sentiment.

Besides, caution ahead of the earnings season and news flow around the first phase of general elections capped upside. Most sectoral indices traded in sync with the benchmark index and failed to show any major change. 

However, movement on the stock specific kept participants busy till the end. Finally, the benchmark index, Nifty, at 11,643.43; down by 0.19 percent for the week ended April 12.

This week is a holiday-shortened one and participants will be largely focusing on earning announcements and global markets for cues. 

Among the prominent names, Reliance Industries, Wipro, Mindtree, and RBL Bank will announce their results during the week along with others.