Overnight Digest: Stocks to keep an eye on June 21

HUL, HDFC, Apollo Hospitals, Asian Paints, and UltraTech Cement were among the top Nifty gainers whereas the losers comprised ONGC, Tata Steel, UPL, Hindalco Industries & Coal India

The equity benchmark indices closed higher in a volatile session on Monday. The hopeful trends in the global markets motivated the domestic market to trade higher, in which, the Large-Cap stocks rose the most while the Mid-Cap and small-cap stocks in broader markets continued to trade under pressure.  

At the close, Sensex zoomed 237.42 points or 0.46 per cent, settling at 51,597.84 level while Nifty gained 56.70 points or 0.37 per cent at 15,350.20 level. HUL, HDFC, Apollo Hospitals, Asian Paints, and UltraTech Cement were among the top Nifty gainers whereas the losers comprised ONGC, Tata Steel, UPL, Hindalco Industries & Coal India. 

On the sectoral front, the FMCG, as well as IT stocks, witnessed buying interest whereas oil & gas, metal, capital goods, power & realty stocks traded lower with their indices slipping between 1 per cent and 4 per cent.  

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

Coforge - Coforge announced a partnership with Estes Express Lines (Estes), the largest privately-held freight carrier in North America. With this partnership, Coforge will bring agile, next-generation solutions to the transportation & logistics industry.  Stuart Chandler, Senior Vice President – Digital Process Automation (DPA), Coforge said, “The partnership with Estes opens up a new road for Coforge to leverage its industry expertise, brand & relationships in the dynamic transportation and logistics sector worldwide". Amid the positive close depicted by the domestic markets, the shares of Coforge ended flat i.e. lower by 0.3 per cent on Monday.  

Tech Mahindra - The company has announced a strategic partnership with Communisis, the integrated business communications provider. The partnership will enable and transform Communisis’ internal & external digital capabilities. Under the partnership, Tech Mahindra will implement Communisis’ digital transformation strategy through legacy modernisation, enterprise resource planning (ERP) implementation, service desk operations, and cloud & vendor management. The shares of Tech Mahindra closed 1.43 per cent higher on Monday.  

Oil stocks - The shares of energy companies tumbled up to 17 per cent during Monday’s trading session, reacting to a fall of about 5 per cent in oil prices in the previous trading session. Investors believed that the interest rate hikes from major central banks can potentially slow the global economy, which will slice demand for energy. Among the oil stocks, Mangalore Refinery & Petrochemicals fell 17 per cent to Rs 78.55 while Chennai Petroleum Corporation sank 15 per cent to Rs 277.75 and Oil India plunged 8 per cent to Rs 233.40 in a single day. The same stocks had seen an upside trend on higher crude oil prices. 

Greenlam Industries - The shares of Greenlam Industries jumped 11 per cent in the first half of the trading session to Rs 330.40 per share during Monday's trading session after its board approved fundraising of Rs 195 crore by issuing shares to a qualified institutional buyer (QIB) on a preferential basis. The board has approved the issuance of up to 6.31 million equity shares bearing a face value of Re 1 each, of the company to Smiti Holding & Trading Company Private Limited, a qualified institutional buyer, as amended on a preferential basis at a price of Rs 309 per share, aggregating to Rs 195 crore.