New Delhi: Markets settled at their fresh all-time high levels on Wednesday. Sensex rallied 620.73 points or 0.80 percent to end at new closing peak of 78,674.25 while Nifty surged 147.50 points or 0.62 percent to close at 23,868.80.
Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd said, “The domestic benchmark index, Nifty, opened on a flat note and after initial dip index has witnessed strong buying interest. Consequently, the index achieved a new record high of 23,889.90, ultimately concluding the day positively at 23,868.80. Technically, the index broke out of the short-term consolidation zone of 23,330-23,670 in yesterday’s session, and today it found support near the breakout point of 22,670. Based on this breakout, the rally may extend towards the 24,000 level. Therefore, it is advisable to adopt a buy-on-dips strategy for Nifty. On the downside, 23,670 will serve as immediate support for the index”.
Meanwhile, ahead of the market opening today, as per Zeebiz Bharti Airtel, Titan, LTIMindtree, LTTS, Bharti Hexacom, are a couple of stocks that will likely be in focus today.
1. LTIMindtree
LTIMindtree has informed the regulator that AM Naik, Non-Executive Chairman of the Company will relinquish his office. Further, the Board of Directors at its meeting has approved appointment of SN Subrahmanyan, Non-Executive Vice-Chairman, as the Non-Executive Chairman of the Company with effect from June 27, 2024.
2. Titan
Titan stock will trade ex-dividend today. The Board of Directors at its meeting held on 3rd May 2024 recommended a Dividend of 1100 percent at Rs 11.00 per Equity Share of Rs 1 each for the Financial Year ended 31st March, 2024.
3. Bharti Airtel
Airtel has said that it has acquired 97 MHz spectrum in 900 MHz, 1800 MHz and 2100MHz frequency bands through the auction for Rs 6857 crore Spectrum secured for 20 Years. Airtel added that it has successfully renewed spectrum that was expiring in 2024 along with additional spectrum purchase to bolster its mid band holding across the key circles.
4. Telecom Stocks: Bharti Hexacom
Bharti Hexacom Ltd, a subsidiary of Bharti Airtel, has acquired 15 MHz with an outlay of Rs 1,001 crore.
5. Supreme Petrochem
Supreme Petrochem shares are slated to trade ex-dividend on Thursday. The company has recommended final dividend rate of Rs 7.