Overnight Digest: Watch out for these stocks on October 29
On Thursday, bears took a controlling position in domestic indices tracking cues from weak Asian and European markets ahead of a policy update from the European Central Bank. Domestic markets witnessed broad-based selling dragged by banking, metal and realty stocks. On the global level, investors are keeping a watch awaiting the US GDP data releasing later in the day along with the outcome of the Fed meeting scheduled for next week.
At close, the Sensex was down 1,158.63 points or 1.89 per cent at 59,984.70 level, and the Nifty was down 353.70 points or 1.94 per cent at 17,857.30 level. All other sectoral indices ended in the red with PSU bank, metal, realty, oil & gas, power, pharma indices down 2-5 per cent. BSE midcap and smallcap indices declined over 1 per cent each.
Keep a watch on the following stocks for Friday:
Marico - The company declared its quarterly results for Q2FY22. Net Profit was up 15.8 per cent at Rs 316 crore against Rs 273 crore (YoY). Revenue jumped 21.6 per cent at Rs 2,419 crore against Rs 1,989 crore (YoY). EBITDA rose 8.7 per cent at Rs 423 crore against Rs 389 crore (YoY) while EBITDA margin came in at 17.5 per cent against 19.6 per cent (YoY).
Larsen & Toubro - The construction arm of the company has secured a large order for its Buildings and Factories business from Central Public Works Department (CPWD) to construct Common Central Secretariat Integrated Buildings 1, 2 and 3 in Plot 137, New Delhi with a built-up area of around 48.11 lakh sq ft including its Operation and Maintenance.
IRCTC - The share of IRCTC gained up to 20 per cent in Thursday's trading session to hit an intraday high of Rs 983.60, in an otherwise weak market, after the stock started trading ex-split. Starting Thursday, IRCTC shares were split in the ratio of 1:5, sub-dividing the face value of the share from Rs 10 per share to Rs 2 per share. IRCTC board had announced the plan to split the stock on August 12.
IndusInd Bank - This is the only stock making a fresh 52-week high in the Sensex pack on Thursday. Keep a watch on this stock on Friday.