“The market is maintaining its optimism; however, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range. The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs. The market is taking a breather ahead of the upcoming Q1 results,” said Vinod Nair, Head of Research at Geojit Financial Services
The rotational buying across sectors is helping the index to maintain a positive tone despite the overbought condition, according to share market analysts. Mphasis, Hero MotoCorp, Deepak Spinners, Sundaram Finance are among stocks to watch on Wednesday
Shares of Deepak Spinners will trade ex-dividend on Wednesday. The company had declared a final dividend of Rs 2.5 per equity share
Shares of Mphasis will trade ex-dividend on Tuesday. The company had declared a final dividend of Rs 50 per equity share for FY23 with its Q4 results
Shares of Sundaram Finance will trade ex-dividend on Wednesday. The company had declared a final dividend of Rs 15 per equity share with its Q4FY23 results
Shares of Bhansali Engineering will trade ex-bonus on Wednesday. The company announced a recommendation for a 2:1 Bonus Share issuance. This means that shareholders will receive one bonus equity share of Re 1 face value each for every two fully paid-up equity shares of Re 1 face value held
Shares of Sadhana Nitro Chem will trade ex-bonus on Wednesday. The company announced a recommendation for a 2:9 Bonus Share issuance. This means that shareholders will receive 9 bonus equity shares for every two fully paid-up equity shares held
Hero MotoCorp has entered the 440cc segment with the launch of the Harley Davidson X440. The two-wheeler maker has opened bookings for its first co-developed premium motorcycle with Harley-Davidson
Shares of Samvardhana Motherson International Ltd or SAMIL will be in focus on Wednesday morning after the company via its wholly-owned subsidiary SMRP BV has entered into an agreement to acquire 81% stake in Yachiyo’s four-wheeler (4W) business housed under Yachiyo Industry Co
Shares of Genus Power will be in focus as the company on Tuesday announced the signing of definitive agreements with Gem View Investment, an affiliate of GIC, Singapore for setting up of a platform for undertaking advanced metering infrastructure service provider concessions
“Nifty ended the session with “Hanging Man” candlestick pattern which signals short-term reversal if the low of the candle is breached. The level below 19,300 could confirm the short-term bearish trend reversal in Nifty. As far as resistance is concerned, 19,500 should continue to remain hurdle in the short term,” said Devarsh Vakil - Deputy Head Retail Research, HDFC Securities
"Bank Nifty ended the session with “Long Legged Doji” on the daily chart and the bearish implication of the same would be activated once the index breaks below 45,000 in spot," said Devarsh Vakil - Deputy Head Retail Research, HDFC Securities
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position