Overnight Digest: Stocks likely to be in focus on July 7

Britannia Industries, Bajaj Finance, Bajaj Finserv, HUL and Eicher Motors were among the top Nifty gainers. ONGC, Power Grid Corp, NTPC, HDFC Life and Hindalco Industries were among the losers on the index.

On Wednesday, the equity benchmark indices ended on a higher note with Nifty closing near 16,000 level supported by the auto, FMCG and financial stocks. It was more of a relief day for the markets as they have been falling since last few trading sessions on worries of global recession and slipping crude oil prices. 

At the close, Sensex zoomed 616.62 points or 1.16 per cent at 53,750.97 level while Nifty was up 178.90 points or 1.13 per cent at 15,989.80 level. About 1779 shares have advanced, 1436 shares declined, and 131 shares are unchanged.

On the sectoral front, the auto, FMCG, realty, IT and bank indices gained between 1 to 2 per cent whereas selling was seen in the metal stocks. In the broader markets, the BSE midcap index rose 1.7 per cent, and smallcap index advanced 0.94 per cent.

Watch out for these stocks during Thursday's trading session:

GAIL (India) - In a bid to support the start-ups operating in identified focus areas, GAIL (India) plans to invest in such companies through its start-up initiative 'Pankh'. GAIL has now opened a fresh round for solicitation of investment proposals from its start-ups, which mainly include natural gas, petrochemicals, energy, project management, logistics, electric mobility, bio manure marketing, nanomaterials, IoT and data mining, environment, health & social, etc. The shares of GAIL (India) closed the trading session 0.075 per cent higher. 

IndusInd Bank - IndusInd Bank announced a strategic partnership with MoEngage, the insights-led customer engagement platform to deliver a differentiated digital experience across multiple customer journeys. As part of the partnership, Induslnd Bank will leverage MoEngage’s technology platform to deliver ‘Gen Z’ digital banking experience to its customers. The bank will be able to curate personalised content & recommendations across channels where the customers spend most of their time. The shares of IndusInd Bank traded in green throughout Wednesday's trading session and ended 1.69 per cent higher.  

FMCG stocks - BSE FMCG index traded in a constant upward direction, closing around 2.25 per cent up during Wednesday's trading session. It was seen trading within 3 per cent of its 52-week high level. The shares of Hindustan Unilever, Godrej Consumer Products Ltd, and Britannia Industries advanced today as global crude palm oil prices continued to decline. The decline in crude palm oil is a favourable sign for FMCG companies as crude palm oil is a crucial raw material for these companies. Keep a watch on the companies in the FMCG space for the upcoming trading sessions.  

Avenue Supermarts - The shares of Avenue Supermarts gained nearly 4 per cent during Wednesday’s trading session and zoomed 11 per cent in the previous three trading days. This upmove is despite the company reporting subdued revenue for the first quarter of FY23. The board of directors of the company is scheduled to meet on Saturday, July 9, 2022, to consider & approve unaudited standalone as well as consolidated financial statements for Q1FY23. Keep an eye on this stock for the upcoming trading sessions.