Overnight digest: Stocks to watch out for on August 25
The overall market momentum was optimistic today with broader markets participating in the upward trend post days of underperformance. The full approval granted by US Food & Drug Administration to the COVID-19 vaccine developed by Pfizer and BioNTech proved to be one of the significant market drivers today.
On the sectoral front, apart from FMCG and IT sectors, all other sectors cheered in today's trading session. As mentioned earlier, the broader markets advanced today and BSE Mid Cap & Small Cap indices settled 1.52 per cent & 1.69 per cent higher, respectively.
The following stocks will be in focus for Wednesday's trading session:
Infosys - In the latter half of the trading session today, Infosys announced the signing of a new minimum three-year contract with UK-based Universities & College Admissions Service (UCAS). This is expected to have a positive impact on the stock price and hence, shall be on the investors' radar for Wednesday's trading session.
Lupin - The stock is likely to be on a watch as it announced the launch of the first branded generic alternative to Fostair in the UK for treating asthma and COPD. This announcement was made in the second half of the trading session on Tuesday.
Bajaj Finance & Bajaj Finserv - Bajaj Finance took over SBI in terms of market capitalisation, which breached the Rs 4.2 lakh crore mark. Meanwhile, Bajaj Finserv received in-principle approval from SEBI for sponsoring a mutual fund. Reacting to this, Bajaj twins have surpassed their previous 52-week high prices and recorded fresh highs today. Keep a close watch on further movements of the stocks.
52-week high stocks - Nestle India and Tech Mahindra have also recorded fresh 52-week highs in addition to Bajaj twins. These are likely to be on investors' radar for succeeding trading sessions.
Metal stocks - After taking a hit in Monday's trading session, metal stocks have climbed to be the leading stocks in today’s trading session. National Aluminium Company, NMDC, Vedanta, SAIL, and Hindalco were the top gaining stocks in the metal space.