New Delhi: Markets ended flat on Tuesday after scaling fresh lifetime highs with Sensex finishing at 79,441.45 and Nifty ending at 24,123.85.
“The markets experienced volatility and closed nearly unchanged, reflecting mixed cues. Following an initial rise, the Nifty index drifted lower and remained range-bound, ultimately closing at 24,123.85. Sectoral trends were mixed, with IT, realty, and energy sectors edging higher, while financials and FMCG sectors saw profit-taking. The broader indices experienced a dip, losing nearly half a percent each after a day of gains,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Mishra added, “Currently, the index is consolidating with a positive bias, and we expect this trend to continue. If there is any decline, the Nifty has support around the 23,800-24,000 zone. Amid these conditions, traders should focus on selecting quality stocks and use this phase to accumulate them.”
Meanwhile, ahead of the market opening today, as per Zeebiz M&M Financial Services, Bharti Airtel, Hindustan Zinc, Dalmia Bharat Sugar, Jyothy Labs are likely be in focus today.
1. Bharti Airtel
Telecom stocks such as Bharti Airtel are likely to be in focus today since the operator has hiked mobile tariff plans that are coming into effect from today.
2. Mahindra & Mahindra Financial Services Ltd.
M&M Financial Services has said that it estimates the overall disbursement at approximately Rs. 4,370 crore delivering a 3% Y-o-Y growth. Q1FY25 disbursement at about Rs. 12,730 crore, registered a growth of 5% Y-o-Y. Business Assets at approximately Rs. 1,06,200 crore grew by ~4% over March 2024 and ~22% over June 2023. The Collection Efficiency (CE) was at 95% for June 2024 (against 96% for June 2023). For Q1FY25, the CE is estimated at 94% (PY: 94%).
3. Hindustan Zinc Limited
Hindustan Zinc Limited has announced its production numbers for the first quarter ended June 30, 2024. HZL has said that it delivered its highest ever first quarter mined metal & refined metal production.
4. Dalmia Bharat Sugar
Dalmia Bharat Sugar has informed the regulators that the record date/cut-off date for the purposes of dividend/e-voting is Wednesday, July 03, 2024.
5. Jyothy Labs
Jyothy Labs shares are scheduled to trade ex-dividend on Wednesday. The Board of Directors at its meeting held on May 15, 2024 recommended final dividend of Rs 3.50 per equity share of Re 1 each, subject to the approval of the shareholders.