HDFC Bank, Idea Cellular among top stocks that will remain in focus today

Tthe Sensex and Nifty on Friday settled lower as optimism over robust growth data was tempered by renewed concerns of a global trade conflict. Profit-booking in power, utilities and banking stocks offset gains in auto counters, which spurted following upbeat sales figures for May.

State Bank of India (SBI), Kotak Mahindra Bank, Punjab National Bank, YES Bank and ICICI Bank hiked MCLR rates between 10 bps to 20 bps across tenors effective June 1. Image source: Reuters

The Sensex and Nifty are expected to open higher on Monday tracking positive trend in Asian markets as strong US jobs data offset worries that tariff wars between the United States and the rest of the world could drag global economic growth lower. At 8:00 am, the SGX Nifty was trading at 10,718.50, up 39 points or 0.37 per cent.

On Friday, the Sensex and Nifty settled lower as optimism over robust growth data was tempered by renewed concerns of a global trade conflict. Profit-booking in power, utilities and banking stocks offset gains in auto counters, which spurted following upbeat sales figures for May.

The Sensex ended at 35,227, down 95.12 points, while the broader Nifty50 was ruling at 10,696, down 39.95 points. Broader markets underperformed with the BSE Midcap and the BSE Smallcap indices slipping up to 1.5 per cent.

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Here are five stocks that will remain in focus today:

Banking stocks: State Bank of India (SBI), Kotak Mahindra Bank, Punjab National Bank, YES Bank and ICICI Bank hiked MCLR rates between 10 bps to 20 bps across tenors effective June 1.

Dilip Buildcon: Dilip Buildcon has received letter of award by the National Highways Authority of India for a new Hybrid Annuity Project valued at Rs 1,313.90 crore in Karnataka.

HDFC: Mortgage lender HDFC also increased its benchmark home loan rate by 10 basis point effectively making home loans more expensive for individual borrowers. The benchmark prime lending rate for HDFC will now go up to 16.45% from 16.35% effective June 2.

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HDFC Bank: Foreign investors (FIIs) are expected to buy up to 4.35 crore share of the private lender as the FII limit has gone down to 72.32 per cent from the allowed limit of 74 per cent. HDFC Bank stock is quite popular among FIIs.

Idea Cellular: Idea Cellular looks set to seek shareholders' nod at its EGM on June 26 to raise Rs 15,000 crore through by non-convertible debentures (NCDs). Besides, the company will also discuss change in name of the combined entity to Vodafone India post merger.

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