Overnight Digest: Stocks to keep an eye on July 8

India VIX settled around 6 per cent lower on the weekly F&O expiry day.

For the second straight trading session, the bulls took charge over the benchmark indices as declining commodity prices lowered inflationary concerns. 

In the end, BSE Sensex zoomed 427.5 points, or 0.8 per cent, to settle at 54,178.5 levels while the Nifty50 ended at 16,133, up 143 points or 0.89 per cent.

Apart from FMCG, all the sectoral indices ended higher with Metal and PSU Bank indices gaining between 3 and 4 per cent. The BSE midcap and smallcap indices gained over 1 per cent each.

Watch out for these stocks in Friday's trading session-

Titan Company - The shares of Titan soared 8 per cent in Thursday's trading session post reporting that total sales in the Q1FY23 jumped 205 per cent on a YoY basis led by strong wedding demand and a low base. The revenue came in at a 3 years CAGR of 20.5 per cent over Q1FY20. The stock has jumped 11 per cent in the last two trading sessions. The share closed the trading session 6.15 per cent higher on Thursday. 

Bharat Heavy Electricals - The shares of BHEL were in action today and closed 3.28 per cent up. The company announced that it has successfully commissioned India’s largest Floating Solar PV plant rated at 100 MW at NTPC Ramagundam in Telangana. With this, BHEL has achieved the unique distinction of commissioning 3 floating solar projects – 25 MW at NTPC Simhadri, 22 MW at NTPC Kayamkulam and 100 MW at NTPC Ramagundam - in the last 10 months.

Auto stocks - The BSE Auto Index hit a new high of 27,781 level in Thursday's trading session supported by a strong demand outlook. The top-performing auto stocks within the BSE Auto index on Thursday were Tata Motors, Cummins India, and Mahindra & Mahindra. The shares of Mahindra & Mahindra (M&M) and Tube Investments of India (TII) hit their respective all-time highs. In FY23, so far, the BSE Auto index has outperformed the benchmark indices by gaining 15.5 per cent. 

Gujarat Alkalies - Gujarat Alkalies and Chemicals Limited (GACL) and NTPC Renewable Energy Limited (NTPC-REL), a wholly-owned subsidiary of NTPC signed a Memorandum of Understanding (M0U) to explore business opportunities of mutual interest in the areas of sourcing of renewable power to the extent of about 100 MW and to jointly work on synthesizing Green Chemicals such as Methanol and Ammonia for captive use by GACL. The share of Gujarat Alkalies climbed more than 2 per cent during Thursday's trading session and ended 1.61 per cent higher.