Overnight Digest: Stocks to keep an eye on October 7

After trading flat for the first half of the trading session, the benchmark indices gradually slipped into red towards the end on global risk-off and inflation concerns. Sensex and Nifty plunged by 555.15 and 176.30 points, respectively. In the broader markets, the BSE Smallcap index declined 0.55 per cent and the BSE Midcap index lost 1.22 per cent.

The stocks of IndusInd Bank and Tata Steel lead the market fall among the 30 stocks packed Sensex whereas the stocks of HDFC twins and Bajaj Finance were the top gainers. In terms of volume, ONGC, SBI, ITC, NTPC, Bharti Airtel and ICICI Bank exhibited high trading volumes. All the sectoral indices ended on a lower note with the BSE Metal index being the biggest sectoral loser, down by 2.98 per cent.

These stocks are likely to be in focus on Thursday:

Speciality chemical and Textile stocks - The boost in prices of crude oil and gas is definitely a positive trigger for the speciality chemical stocks. Meanwhile, the disruptions and curtailment of exports in China are likely to benefit the stocks of the textile. Indian textile companies are likely to take advantage of the situation in terms of volume. 

Bharati Airtel RE - Bharti Airtel's Rights Entitlement (RE), which opened on Tuesday, witnessed robust demand on its debut day and froze at a 40 per cent upper circuit. Part of these RE's are likely to be renounced across FTSE indices on Thursday.

TCS - TCS announced working with Scotland’s local government Improvement Service (IS) to accelerate its digital transformation programmes. TCS has been helping the IS achieve this goal, using its DigiGOV™ framework to make digital services faster to configure, easier to use and more accessible. This includes the National Entitlement Card (NEC), Scotland's national multi-application smart card.