New Delhi: Markets ended on a flat note on Wednesday. The BSE Sensex zoomed 36.45 points or 0.05 percent to closing at a new peak of 77,337.59 while the NSE Nifty closed 41.90 points or 0.18 percent lower at 23,516.
Neeraj Sharma, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd commented, “Domestic benchmark index Nifty50 touched new highs for the fifth consecutive day on Wednesday, boosted by banking, IT sectors and favourable global cues. Finally, Nifty lost all gains and ended the day on a negative note at 23,516 levels. Technically, on a daily basis, the index sustained above the breakout of last week’s consolidation range of 23,000 to 23,500 levels, indicating strength. According to this latest breakout, the index may test 23,800-24,000 levels in the near future. Thus, a buy-on-dips strategy should be used in the Nifty, with support at 23,330.”
Meanwhile, ahead of the market opening today, as per Zeebiz, Sun Pharma, Coal India, Raymond and Larsen & Toubro are a couple of stocks that will likely be in focus today.
1. Sun Pharma
Sun Pharma’s Dadra Facility Receives Warning Letter From US FDA. In a regulatory filing Sun Pharma has informed that The Warning Letter summarizes violations with respect to Current Good Manufacturing Practice (cGMP) regulations. The contents of the Warning Letter shall be made public by the USFDA in due course, it added.
2. Larsen & Toubro
L&T shares are turning ex-dividend today (June 20). Earlier, the firm announced that the Board of Directors of the Company has recommended a final dividend of Rs 28 per share for FY 2023-24, in addition to the special dividend of Rs 6 per share paid during the year, thus making the total dividend Rs 34 per share.
3. Coal India Limited
CIL had yesterday informed the regulators that in a bid to tap the latent coal reserves of some of its closed and discontinued underground mines has awarded 23 such mines on revenue sharing model to successful bidders of the private sector. The cumulative peak rated capacity of is 34.14 million tonnes/year (MT/Y) while the total extractable reserves are estimated at 635 MT.
4. Infra stocks
State-owned NHAI is looking to offer 15 road projects worth Rs 44,000 crore covering 937 km during the current financial year under the Build-Operate-Transfer (BOT) mode, news agency PTI has reported.
5. Indian Oil
Indian Oil and GPS Renewables Pvt. Ltd have announced to form Joint Venture for Sustainable Energy Solutions. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country, IOC said in a regulatory filing.