Sensex and Nifty posted strong gains on September 7 after a tepid start during the day. The former closed at 66,265.56 after increasing by 385 points or 0.58 per cent. Nifty50 surged by 116 points or 0.59 per cent to close at 19,727.05. Meanwhile, US markets fell on Wednesday as Apple stocks faced pressure due to China's crackdown on its flagship product iPhone.
Explaining the trend in markets, Vinod Nair, Head of Research at Geojit Financial Services, said, "The domestic market initially opened with a lackluster performance, influenced by weak global cues. However, as the day progressed, a decline in U.S. bond yields and crude oil prices injected some positivity into the market. This optimism was most prominent in banking stocks. Interestingly, mid- and small-cap stocks managed to retain investor interest even though their valuations are relatively high."
As the markets open today, here are the top stocks to watch on September 8:
1) Tata Steel: The company has forged a partnership with AVAADA Group to set up a green hydrogen and ammonia manufacturing unit in Odisha. Its shares posted marginal gains of 0.42 per cent to close at Rs 130.15 (NSE) on Wednesday.
2) Shemaroo Entertainment: Central Goods and Services Tax and Central Excise Department conducted searches at the premises of the entertainment company on September 5, Shemaroo informed. Three of its top executives were also detained in the connection to the case. The shares of the company closed 0.61 per cent lower at Rs 138.05 (NSE) on Wednesday.
3) LTIMindtree: The company announced that it has launched two industry solutions, AdSpark and Smart Service Operations. The new services are expected to help retailers and manufacturers accelerate time-to-market for businesses. Its share closed at Rs 5,485 (NSE) on September 7, increasing by 1.45 per cent compared to the previous close.
4) Exide Industries: The company informed on Wednesday that it has invested Rs 100 crore trough a rights issue in one of its subsidiaries, Exide Energy Solutions Ltd. Its shares closed 0.38 per cent high to reach Rs 274 (NSE) on Wednesday.
5) Mazagon Dock Shipbuilders: The company said that it signed a Master Ship Repair Agreement (MSRA) with the US government. Its shares surged by 9.54 per cent on Wednesday to close at Rs 2,087 (NSE)