Overnight Digest: Stocks likely to be in focus on July 6
Power Grid Corporation, Shree Cements, Hindalco Industries, Apollo Hospitals and Bajaj Finserv were among the top Nifty gainers. ITC, Wipro, HDFC Life, Britannia Industries and Maruti Suzuki were among the losers on the index
Erasing the gains recorded in the first half of Tuesday's trading session, the benchmark indices closed marginally lower. At close, the Sensex was down 100.42 points or 0.19 per cent at 53,134.35 level whereas Nifty was down 24.50 points or 0.15 per cent at 15,810.90 level.
Power index showed strength gaining 0.6 per cent while metal index shined zooming up 0.4 per cent. On the other hand, selling was seen in the realty, IT, auto and banking names. In the broader markets, BSE midcap index shed 0.3 per cent, while smallcap index was up 0.2 per cent.
Watch out for these stocks for Wednesday's trading session-
Vedanta - The shares of Vedanta were seen trading more than 2 per cent up in the first half of Tuesday's trading session. Vedanta's alumina production in Q1FY23 at Lanjigarh (Odisha) refinery increased marginally to 4.85 lakh tonnes, up by 1 per cent on a YoY basis due to scheduled maintenance in April 2022. The cast metal aluminium production at smelters rose by 3 per cent on a YoY basis to 5.65 lakh tonnes. Mined metal production grew 14 per cent to 2.52 lakh tonnes due to higher ore production across all the mines, supported by better mill recovery.
Kirloskar Ferrous Industries - Kirloskar Ferrous Industries announced that it has completed the upgradation of its mini blast furnace II (MBF-11) at Koppal plant, Karnataka. As a result of this, the manufacturing capacity of pig iron in respect of MBF-11 has increased from 1,80,000 metric tonnes per annum to 2,17,600 metric tonnes per annum and consequently, the total manufacturing capacity of pig iron at the company level has increased to 6.09 lakh metric tonnes per annum. The shares of Kirloskar Ferrous Industries were seen trading up to 2 per cent higher during the first half of the trading session.
Ujjivan Small Finance Bank - The shares of Ujjivan Small Finance Bank rose as much as 4.61 per cent in the afternoon session today, catching the investors' attention. The bank gave an update for Q1FY23 numbers, which said that on a YoY basis, the deposits were up by 34.8 per cent whereas, on a QoQ basis, the deposits improved by 0.8 per cent. Disbursements zoomed 230 per cent on a YoY basis and plunged 11.2 per cent on a QoQ basis. As far as the loan book is considered, it improved 38.3 per cent on a YoY basis and 6.9 per cent on a QoQ basis.
Price Volume Breakout - The constituents of BSE 500 viz., Elgi Equipments, AstraZeneca Pharma, Asahi India Glass, Raymond, CG Power, Trident, Grindwell Norton, KEI and Indian Hotels saw a price volume breakout on July 5. These shares will be on the radar of the bulls on July 6.
White Marubozu Candlestick - The shares of Manomay Tex India, Yug Decor, Tembo Global Industries and Katare Spinning Mills displayed a White Marubozu Candlestick pattern. This bullish candlestick pattern happens when the stock prices close at the day's high. These shares will be on investors' radar on July 6.