Overnight Digest: Stocks to be watched out on June 28

On the sectoral front, capital goods and IT indices gained beyond 2 per cent while the other indices traded higher. 

On Monday, the bulls continued the positive momentum for the third straight session as the sentiments remained high across the global markets. The rally was led by IT stocks, which faced aggressive selling in the recent sell-offs. 

Sensex ended 433.30 points or 0.82 per cent up at 53,161.28 level whereas Nifty zoomed 132.70 points or 0.85 per cent ending at 15,832 level. ONGC, Coal India, L&T, HCL Technologies and Tech Mahindra were among the top Nifty gainers. The losers were Eicher Motors, Apollo Hospitals, HDFC Life, Reliance Industries and Kotak Mahindra Bank.

On the sectoral front, capital goods and IT indices gained beyond 2 per cent while the other indices traded higher. 

Watch out for these stocks for Tuesday's trading session: 

Vedanta - The shares of Vedanta climbed more than 2 per cent on the news that it is preparing for its biggest-ever rupee-bond sale. The company is looking to secure commitments for its 10-year notes amounting to Rs 4,809 crore. The proceeds will be used to prepay or repay debt and capital expenditure. The shares of Vedanta closed the trading session 2.89 per cent higher on Monday.  

Bajaj Auto - Bajaj Auto board approved share buyback plans of up to Rs 2,500 crore as it offers to buy back 54,34,782 shares at up to Rs 4,600 per share from the open markets. This represents 9.61 per cent and 8.71 per cent of the aggregate of the total paid-up share capital and free reserves (including securities premium account) of the company. The shares of Bajaj Auto closed the trading session 1.09 per cent higher on Monday.  

Federal Bank - The bank announced in the first half of the trading session that the board of Federal Bank will hold a meeting on June 30 to consider proposals for raising funds through the issuance of securities. The board will also consider convening a general meeting to seek shareholders' approval for fundraising proposals. The shares of Federal Bank traded in green throughout the trading session and settled 1.96 per cent higher.  

Auto stocks - Stable commodity prices are supporting the domestic automobile space. The shares of automobile companies continued to rise as BSE Auto index hit a seven-month high on the back of the positive sales momentum predicted in June. The shares of Hero MotoCorp, Maruti Suzuki India, Mahindra & Mahindra, Bosch, and TVS Motor Company zoomed between 10 per cent & 13 per cent during the week.  

Keep a watch on auto stocks for the upcoming trading sessions.