Overnight Digest: Stocks to be watched on April 13

Apart from BSE Bankex, all other sectoral indices ended in the red with IT, metal, realty, oil & gas, and capital goods indices contracting between 1 and 3 per cent.

The domestic benchmark indices closed in red for the second consecutive session in the volatile market on Tuesday. India VIX, the volatility gauge of domestic markets, was trading lower along with the headline indices. Before the session closed, it contracted 0.49 per cent, but is still holding above 18 levels. 

Sensex was down by 388.20 points or 0.66 per cent at 58,576.37 level while Nifty tumbled 144.70 points or 0.82 per cent at 17,530.30 level. 

Apart from BSE Bankex, all other sectoral indices ended in the red with IT, metal, realty, oil & gas, and capital goods indices contracting between 1 and 3 per cent. BSE Midcap and Smallcap indices squeezed over a per cent each. 

Keep a watch on these stocks for Wednesday's trading session: 

Bharat Petroleum Corporation - Odisha Government signed an agreement with Bharat Petroleum Corporation Ltd (BPCL) for exploring green energy possibilities in the state. On Monday, the memorandum of understanding (MoU) was signed between Industrial Promotion & Investment Corporation of Odisha Ltd (IPICOL), Managing Director, Bhupendra Singh Poonia and BPCL’s Executive Director Renewable Energy, Amit Garg. The shares of BPCL closed 1.96 per cent lower on Tuesday.  

Bandhan Bank - The shares of Bandhan Bank touched a six-month high of Rs 335 in an otherwise weak market, zooming 4 per cent during Tuesday's trading session. The stock traded at its highest level since October 2021 and was near its 52-week high level of Rs 354.10 per share touched on June 28, 2021. In the previous three trading sessions, the stock has advanced 9 per cent after HDFC divested 3.08 per cent of the total equity of the bank via an open market transaction. 

Tech Mahindra - Makers LabTM, the research & development arm of Tech Mahindra, announced the launch of a first-of-its-kind, ‘Meta Village’, a digital twin of Paragon in Maharashtra to gamify learning on the Roblox platform. Strengthening its commitment towards ‘Make in India’, with the launch of the Meta Village, Tech Mahindra will drive innovation in the education sector at the grass-root level. The share traded in red on Tuesday and ended 2.46 per cent lower. 

Shipbuilding stocks - The stocks of shipbuilding and allied services companies are in the news as they rallied up to 14 per cent on Tuesday on an intraday basis. The reason driving the same is likely to be the political and economic uncertainties in Sri Lanka along with the congestion at Colombo port, which are inclining more ships to turn towards Indian ports recently. Garden Reach Shipbuilders & Engineers Limited (GRSE) and Mazagon Dock Shipbuilders zoomed 14 per cent & 8 per cent, respectively. The duo also hit their respective record highs in an otherwise sluggish market.