Overnight Digest: Stocks likely to be in focus on August 4

Keep an eye on these stocks for Thursday's trading session.

On Wednesday, in a tight competition between bulls and bears, the bears finally showed a winning streak and the benchmark indices closed higher. For the domestic market, the major event investors are eyeing this week is the RBI’s policy meeting outcome. 

At the close, Sensex was up 214.17 points or 0.37 per cent at the 58,350.53 level, and the Nifty was up 42.70 points or 0.25 per cent at the 17,388.20 level. Tech Mahindra, TCS, Infosys, Asian Paints, and Titan Company were among the major gainers on the Nifty. The losers included Maruti Suzuki, Sun Pharma, Tata Motors, Kotak Mahindra Bank, and Coal India.

Apart from IT, all the sectoral indices ended lower. BSE IT Index gained over 1.2 per cent. The broader market indices, BSE midcap index fell 0.6 per cent and the smallcap index was down 0.28 per cent.

Keep an eye on these stocks for Thursday's trading session - 

Adani Transmission - Adani Transmission has incorporated a wholly-owned subsidiary company in the name of ‘Adani Transmission Step-Two Limited’ (ATSTL), for transmission, distribution & supply of power, and other infrastructure services relating thereto. ATSTL is yet to commence its business operations. In a weak market today, the shares of Adani Transmission climbed to reach a 52-week high of Rs 3,529.95. At the close, its shares were quoting at Rs 3,515 , gaining 2.73 per cent. The stock has also surpassed ITC in terms of market capitalisation ranking in today's trading session.  

Devyani International - The shares of Devyani International Ltd (DIL) were seen outperforming the markets, surging over 7 per cent and making a new six-month high on reporting Q1FY23 results. Devyani International has reported a profit of Rs 74.7 crore in the quarter ended June 30, 2022, against a loss of Rs 33.4 crore while its revenue improved strongly by 99.8 per cent at Rs 704.7 crore as compared to Rs 352.8 crore on a YoY basis. DIL recorded strong performance across its core brands whereas healthy store additions bundled with early signs of revival in demand supported growth during the quarter. 

eClerx Services - The shares of eClerx Services jumped more than 4 per cent in an otherwise bearish market to Rs 2,505.35 after the company announced that its board will meet on August 9, 2022, to consider the proposal for the issuance of bonus equity shares of the company. The board would also approve and take on record the unaudited financial results of the company for the quarter ended Q1FY23. In today's trading session, on the daily chart, the stock has shown RSI crossover whereas, after April 29, 2022, it is seen trading above the key moving averages (50, 100, and 200-day).  

Indus Towers - The shares of Indus Towers were seen draining more than 6 per cent during Wednesday's trading session and became the top contributor in pulling down BSE Telecom index as compared to other sectoral indices. The company announced weak earnings for the quarter that ended on June 30, 2022. Its consolidated net profit tanked 66 per cent on a year-on-year basis to Rs 477 crore as topline improved merely 1 per cent to Rs 6,897 crore while operating profit squeezed 34 per cent to Rs 2,322 crore. Its shares settled the trading session 5.93 per cent lower.