Overnight Digest: Stocks to be kept an eye on July 5

HUL, Britannia Industries, IndusInd Bank, ITC, and ICICI Bank were among the top Nifty gainers. JSW Steel, ONGC, TCS, Tata Steel, and Cipla were among the losers on the index.

On Monday, the benchmark indices recouped the morning losses in the afternoon session with Sensex closing 326.84 points or 0.62 per cent higher at 53,234.77 level whereas Nifty being 83.40 points or 0.53 per cent up at 15,835.40 level.  

On the sectoral front, FMCG, bank, and capital goods indices added between 1 and 2 per cent while the metal index shed 1.5 per cent. The broader market indices, namely BSE Midcap and BSE Smallcap gained 0.8 per cent & 0.6 per cent, respectively. 

Keep an eye on these stocks for Tuesday's trading session: 

Automotive Axles - The shares of Automotive Axles surged 8 per cent during Monday's trading session on the back of a healthy business outlook. In the last two trading sessions, the stock has gained 18 per cent. On the daily chart, the stock has shown a decent spurt in the trading volumes and broken the current resistance level on Monday. Also, with the positive breakout given by the RSI indicator and the steep upward trend shown by the MACD indicator, the stock is likely to be in focus for the upcoming trading sessions.  

Tata Power - The shares of Tata Power ended the trading session over 2 per cent higher on Monday. The company has signed a memorandum of understanding (MoU) with Tamil Nadu Government to invest approximately Rs 3,000 crore for setting up a greenfield 4GW solar cell and 4GW solar module manufacturing plant in Tirunelveli district of Tamil Nadu. The MoU outlines the commitment made by both parties to stimulate clean energy transition and employment in the state. 

ONGC & Oil India - The shares of state-owned oil & gas companies i.e. Oil India & ONGC traded lower for the second straight session, slipping 6 per cent on an intraday basis. This move came after the government on Friday imposed special additional excise duty of Rs 23,250 per tonne on crude oil production. The government announced export taxes and imposed restrictions on the exports of petrol, diesel and aviation turbine fuel (ATF) to secure domestic supplies of these products when exports are becoming highly lucrative. Keep an eye on these stocks for Tuesday's trading session.  

Indiamart Intermesh - In an otherwise gaining market, the shares of IndiaMART InterMESH touched a 52-week low price of Rs 3,751 per share. It plunged 2 per cent during Monday's trading session and fell below its previous low of Rs 3,790.90 touched on June 30, 2020. Recently, the company bought back 1,60,000 equity shares of the company from its existing shareholders via tender offer route at Rs 6,250 per equity share. The share of IndiaMART InterMESH closed 1.44 per cent lower and is likely to be in focus on Tuesday.