Overnight Digest: Stocks likely to be in focus on June 23

Overnight Digest: Stocks likely to be in focus on June 23

Shreya Chaware
/ Categories: Trending, Mindshare

All the sectoral indices ended lower with the metal index falling the most up to 5 per cent.

After showing some positive signs in the previous trading session, the equity markets once again went into a downward mode as the worried investors took cues from a decline in global markets which affected especially metal, power & realty stocks. 

In the end, Sensex settled 709.54 points or 1.35 per cent lower at 51,822.53 level while Nifty fell 225.50 points or 1.44 per cent closing at 15,413.30 level. In the broader markets, the BSE midcap index declined 1.5 per cent and smallcap index contracted 1 per cent. 

All the sectoral indices ended lower with the metal index falling the most up to 5 per cent. The top losing metal stocks in BSE Metal Index were Hindalco, NALCO, Jindal Steel, Vedanta and Tata Steel. 

Watch out for these stocks for Thursday's trading session -  

GAIL (India) - The shares of GAIL (India) have declined up to 2.38 per cent during Wednesday's trading session. The company plans to enter into distributed liquefied natural gas (LNG) production with a vision to cater to the demand from off-grid locations and the transport sector. GAIL has placed an order for two small-scale liquefaction skids capable of producing LNG on a pilot basis. 

Cyient - The shares of Cyient slipped up to 1.23 per cent during Wednesday's trading session. The company has announced the launch of an AI-powered framework for an automated system and software testing (CyFAST) to accelerate end-to-end test automation. The platform enables end-to-end test automation across web, mobile, desktop, and embedded application & hardware devices, providing a comprehensive environment for managing testing projects. 

Zomato - In an otherwise falling market, the shares of Zomato traded in an upward direction, gaining up to 4 per cent on an intraday basis and more than 5 per cent in the last two trading sessions. The upmove came after the company said via a filing that its board will meet on Friday (June 24) to consider a proposed acquisition. The consideration for the same may be discharged through the issuance of equity shares on a preferential basis. 

Mahindra & Mahindra Financial Services - The shares of M&M Financial Services ended 1.51 per cent lower on Wednesday. The company announced its partnership with BigHaat, India’s leading Agri-digital platform. This partnership will offer financial solutions to the informal Agri segment of India’s workforce. Mahindra Insurance Brokers and BigHaat will together promote the Government of India’s goal of higher insurance penetration in rural India. 

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