Overnight Digest : Stocks likely to be in focus on March 31

On BSE Sensex, the top stocks were Bajaj Finserv, Mahindra & Mahindra, Bajaj Finance, Power Grid Corporation of India, and Axis Bank while top losers were ITC, Tata Steel, Tech Mahindra, Bharti Airtel, and Titan.

On March 30, post the previous week’s consolidation, the equity markets finally traded on a cheering note and the benchmark indices zoomed about 1 per cent with the broader sectors also showing optimism.  

In the global markets, high volatility was observed but peace talks between Russia and Ukraine helped the domestic market to trade with confidence. Sensex was up by 740.34 points or 1.28 per cent at 58,683.99 level while Nifty was up by 173 points or 1 per cent at 17,498.30 level.  

Among the sectors, auto, IT, bank, capital goods & realty indices advanced 1 per cent each while the metal index contracted nearly 3 per cent, the oil & gas index declined 0.8 per cent and the power index slipped 0.4 per cent. In the broader markets, BSE Midcap and Smallcap indices gained 0.8 per cent-1 per cent. 

Keep these stocks on your radar for Thursday's trading session: 

Adani Enterprises - The shares of this company managed to make a new high of Rs 1,937, climbing 1 per cent during Wednesday's trading session, after achieving financial closure of Navi Mumbai International Airport project (NMIAL), a subsidiary of the company. The shares traded higher for the fifth consecutive day, zooming 7 per cent during the period, as compared to a 1 per cent rise in BSE Sensex. Adani Group executed the financial closure of NMIA Project as the company's commitment to summon required resources and complete it within set timelines. 

Raymond - The shares rallied 12 per cent on an intraday basis on Wednesday, hitting a 52-week high of Rs 840.95 per share. In the previous three months, the stock has beaten the market by ascending 39 per cent post robust earnings reported by the company for Q3FY22. Breaking the current resistance level on the charts, the stock has closed above its key moving averages for the first time as compared to the last couple of trading sessions. A significant spur in the volume was also observed for the stock during Wednesday's trading session. 

Bharat Heavy Electricals Limited - The company has achieved yet another milestone in its international business by bagging a prestigious order for a compressor package from Iraq. The order includes the design, engineering, manufacturing as well as supply of electric motor-driven recycle gas centrifugal compressor, which will be executed by BHEL’s international operations division along with its manufacturing units at Hyderabad & Bhopal. The new compressor will replace the existing compressor, also supplied by BHEL in the year 2000, which was damaged due to the war in Iraq. The share of BHEL closed 2.14 per cent up on Wednesday.  

Sun Pharmaceutical Industries- Sun Pharmaceutical Industries announced that one of its wholly-owned subsidiaries has entered into an exclusive patent licensing agreement with H Lundbeck A/S to market and distribute its own version of Vortioxetine in India under the brand name, VORTIDIFTM. The territory of the licensing agreement will cover only India. The share opened slightly higher but traded in red throughout the trading session and managed to close almost flat i.e. 0.071 per cent up on Wednesday.