Overnight Digest: Stocks likely to be in focus for October 17
Watch out for these stocks for Tuesday's trading session.
After opening in the red zone, the markets made their way into the green territory and held their gains throughout the session.
S&P BSE Sensex hit a high of 58,449 on an intraday basis and closed at 58,410, up by 491 points or 0.85 per cent. Nifty 50 index settled with gains of 126 points or 0.73 per cent at 17,312.
The gains in the benchmark indices were led by SBI, NTPC, RIL, ICICI Bank, Bajaj Auto, SBI Life, Axis Bank, Bajaj Finserv, Dr Reddy's Labs, IndusInd Bank, Maruti Suzuki, HUL and Hero MotoCorp.
Watch out for these stocks for Tuesday's trading session -
NTPC - The company has signed a memorandum of understanding (MoU) with Mitsubishi Heavy Industries Ltd (Japan) and its subsidiary Mitsubishi Power India Pvt Ltd to demonstrate the feasibility of hydrogen co-firing blended with natural gas in MHI 701D gas turbines installed at NTPC Auraiya Gas Power Plant in Uttar Pradesh. The shares of NTPC traded higher, gaining up to 1.94 per cent towards the end of the trading session.
JSW Steel - The shares of JSW Steel were trading under pressure despite the news that it has signed a memorandum of understanding (MoU) with Smartex to explore the potential to promote innovation and turnkey approaches - from financing to technology availability & market access aimed at decarbonisation of the steel sector in India, derisking industry investment, accelerating climate action, and addressing social equity.
Avenue Supermarts - The company has reported weak operational performance in Q2FY23. Its revenue improved by 36.6 per cent on a YoY basis to Rs 10,638 crore. EBITDA margins contracted 20 bps on a YoY basis to 8.4 per cent from 8.6 per cent. The company's revenue per store improved by 9 per cent on a YoY basis whereas revenue/sqft remained 10 per cent lower than the pre-COVID levels of Q2FY20, owing to higher store size and inflationary pressure witnessed across the non-food category.
Price volume breakout stocks - In an optimistic market today, the shares of Aptus Value Housing Finance India, Godfrey Phillips India, Adani Green Energy, Bank of Maharashtra, and City Union Bank were some of the stocks that showed price volume breakout. Keep an eye on these stocks for Tuesday's trading session.