New Delhi: Markets rose to all-time highs on Wednesday, led by HDFC Bank, which jumped to a new high amid hopes of a rise in its weightage in a major global index.
Sensex Finished higher at 79,986.80 points while Nifty settled the day at a record high of 24,286.50.
“Technically, the Nifty index has broken the 24,200 barrier and formed a doji candlestick pattern. Furthermore, the index is forming a higher-top, higher bottom pattern, indicating an uptrend. As long as index holds support of 23,990, it may attempt to test the levels of 24,500-24,600. Nifty Bank also reached a record high of 53,256.70 in the morning trade, driven by HDFC Bank, and then witnessed some profit booking on higher levels. Finally, Nifty Bank settled the day on record high at 53,089 levels. From a technical standpoint, the index is consolidating in the band of 52,000-53,200. If the index sustains above 53,200, then rally could extend towards 54,000-54,200 levels,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd.
Meanwhile, ahead of the market opening today, as per Zeebiz are Bajaj Finance, Vedanta, Vodafone Idea, Tata Power, Marico likely be in focus today.
1. Tata Power
Tata Power shares are scheduled to trade ex-dividend on Thursday. The Board of Directors of the Company had at its meeting held on May 8, 2024, recommended a dividend of 200 percent at Rs 2 per Equity Share of Re 1 each for the financial year ended March 31, 2024.
2. Vodafone Idea
Shares of Vodafone Idea is likely to be in focus as the telecom operator has hiked its mobile tariff which is effective from today.