Overnight Digest: Stocks likely to be in focus on June 27
India VIX fell 1.58 per cent ending the week at 20.55 level.
The benchmark indices chose to end the week on a positive note for the second consecutive day. Replicating global trends and reacting to declining commodity prices, the domestic market opted to maintain a positive stance.
Sensex ended 462.26 points or 0.88 per cent up at 52,727.98 level while Nifty was up by 142.60 points or 0.92 per cent at 15,699.30 level at the close. In the broader markets, the midcap and small-cap indices added more than a per cent each.
The majority of sectoral indices ended higher with auto, oil & gas, power, bank, metal, and FMCG indices gaining more than a per cent each while IT stocks witnessed some selling in the space.
Watch out for the following stocks for Monday's trading session -
NTPC - The shares of NTPC traded volatile during Friday's trading session. The company announced that consequent upon successful commissioning, the last part capacity of 35 MW out of 92 MW Kayamkulam Floating Solar PV Project at Kayamkulam (Kerala) is declared on commercial operation w.e.f. June 24, 2022. With this, the standalone installed and commercial capacity of NTPC has become 54749.20 MW while the total installed and commercial capacity of NTPC has become 69114.20 MW.
Hero MotoCorp - The shares of Hero MotoCorp have rallied more than 4 per cent during Friday's trading session. The company declared that it will increase ex-showroom prices of its motorcycles and scooters with effect from July 1 to partially offset the steadily growing input cost inflation. Also, in the second half of the trading session, the company announced that it has introduced the new Passion ‘XTec’. The host of new segment-first features and the trust & reliability of the Passion brand, make the Passion XTec stand out over others in the segment.
Canara Bank - Outperforming the benchmark indices, the shares of Canara Bank rose over 2 per cent as the company announced that its board of directors has approved the bank’s capital raising plan for the financial the year 2022-23, which amounts to Rs 9,000 crore by way of debt instruments (additional tier I/tier II bonds). The shares of Canara Bank ended the trading session 2.2 per cent higher on Friday.
Mahindra & Mahindra - In the hopes of a strong demand outlook, the shares of Mahindra & Mahindra have gained up to 3 per cent and also, made a new high of Rs 1,058.60 per share. The shares of M&M have outperformed the market in the past month, gaining 12 per cent when compared to a 2.6 per cent decline on BSE Sensex. With the launch of Scorpio-N in June 2022, the company foresees a strong demand for its UV business. The company has also expanded its Capex plans for its auto division to meet the growing demand (especially for XUV 7000 & Thar).