Benchmark indices are close to their lifetime highs. The focus remains on geopolitics this week. Niche sectors like Insurance, and Pharma could continue to be in focus after recovery was seen in their respective monthly data. NBFC too is in focus after the slowing of inflation and the recent rate pause, said analysts
Markets are shying away from the record high due to intermediate volatility in the banking majors. Share market analysts recommend maintaining a positive tone and focusing on other key sectors like auto, FMCG, energy, and selectively in midcap & smallcap space for fresh longs. CEAT, Bank of India, Blue Star, Adani Transmission among stocks to watch on Tuesday
Shares of CEAT will trade ex-dividend on Tuesday. The company had announced a final dividend of Rs 12 per equity share
The Securities and Exchange Board of India (SEBI) on Monday prohibited IIFL Securities Limited from onboarding new clients for the next two years.
Shares of Blue Star will trade ex-bonus on Tuesday. The company had announced a bonus issue of 1:1
Adani Transmission, Adani Group’s electrical power transmission company, is expected to achieve financial closure of Rs 1,700 crore being raised for its Mumbai transmission line project by July-end. The financing is being provided by a consortium of nine global banks through an international construction facility
Shares of Bank of India and Newgen Software will trade ex-dividend on Tuesday. The companies had announced a final dividend of Rs 2 and Rs 5 per equity share respectively
Grasim Industries will start work on a chlorinated polyvinyl chloride (CPVC) resin-manufacturing plant with Lubrizol India Limited later this year, the Aditya Birla Group flagship company said on Monday. CPVC is a thermoplastic essential for many industries, as it is used in water delivery pipes and industrial liquid handling
Shares of Meghmani Finechem and Meghmani Organics will trade ex-dividend on Tuesday. The companies had announced a final dividend of Rs 2.5 and 1.4 per equity share respectively
Shares of Cera Sanitaryware and Sagar Cements will trade ex-dividend on Tuesday. The companies had announced a final dividend of Rs 50 and Rs 0.7 per equity share respectively
“The near-term uptrend status of Nifty remains intact. There is a possibility of upside bounce from the lows in the next 1-2 sessions. Immediate support is at 18,670 and strong hurdle is placed at 18,900 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“Bank Nifty is likely to consolidate in the range of 43,400 – 44,500 from short-term perspective. On the upside, the recent swing high of 44,500 is acting as a stiff resistance while on the downside 43,400 where the 40-day exponential moving average is placed is acting as a crucial support. A decisive move beyond these extremes shall lead to a trending move in that direction,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas
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