Overnight Digest: Stocks likely to be in focus on September 29
Keep an eye on these stocks for Thursday's trading session
Amid a situation wherein, the investors were cautious and the markets remained choppy, the benchmark indices ended on a negative note with Nifty slipping below the 16,900 level on Wednesday.
Sensex was down by 509.24 points or 0.89 per cent at 56,598.28 while Nifty plunged 148.80 points or 0.87 per cent at 16,858.60. Hindalco Industries, JSW Steel, ITC, Axis Bank, and Reliance Industries were among the Top Losers on Nifty. The gainers included Asian Paints, Sun Pharma, Dr Reddy’s Labs, Eicher Motors, and Power Grid Corp.
On the sectoral front, power, bank, and metal indices slipped from 1 per cent to 2 per cent while the pharma index gained 0.5 per cent.
Keep an eye on these stocks for Thursday's trading session -
Motherson Sumi Wiring – The company’s board of directors will meet on September 30 to consider a proposal for the issuance of bonus shares to the equity shareholders of the company. In line with this news, the shares of Motherson Sumi climbed over a per cent even on a red market day. Keep this stock on your watchlist for the upcoming trading sessions.
Bank of India - Bank of India has invested in the capacity of promoter shareholder of ONDC, an amount of Rs 10 crore in the open network for digital commerce (ONDC), under the private placement route. As a result of the equity participation, the shareholding of the bank in the company will come to 5.56 per cent. The shares of BOI have settled 1.6 per cent down in today's trading session.
ITI - The shares of ITI soared 10 per cent in an otherwise weak market, ahead of its scheduled board meeting to consider & approve the allotment of equity shares to the President of India, against Capex infusion, as per the revival package of the Board of Industrial & Financial Reconstruction (BIFR) order dated January 8, 2013.
Price volume breakout stocks - On a dull day for the market, some of the stocks that were able to show a price volume breakout were Jyothy Laboratories, Amber Enterprises, Aditya Birla Fashion & Retail, Century Textiles & Industries, and Bajaj Electricals.