 "Stock market, BSE")
Stocks to Watch on Wednesday, April 10, 2024: Indian stock markets scaled record highs in trades yesterday, with the BSE S&P Sensex crossing the 75,000-mark, to a high of 75,124, and the NSE Nifty registering a summit 22,768. The benchmark indices eventually ended marginally in red on Tuesday owing to profit-taking at higher levels.
At 07:20 AM, Gift Nifty futures indicated that the Nifty may open on a positive note, as they quoted around 22,830 as against the NSE Nifty close of 22,643.
Cues from the Asian markets were mixed. Hang Seng and Straits Times gained 0.6 per cent each, while Nikkei and Kospi slipped 0.5 per cent each.
Overnight the US market ended on a sluggish note for the second straight day as investors awaited key CPI inflation numbers later tonight. Dow ended unmoved; while the S&P 500 and Nasdaq edged 0.1 per cent and 0.3 per cent, respectively.
Among commodities, Gold futures continued to trade at record high levels at $2,365 per ounce. Brent Crude was seen swinging around $90 per barrel.
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Back home, traders may want to adopt a cautious stance ahead of the trading holiday tomorrow on account of EID.
Meanwhile, here are the stocks that are expected to be on investors radar this Wednesday.
Maruti: The auto major on Tuesday said it has added a new assembly line at its plant in Manesar, Haryana, which has increased the company's total manufacturing capacity from 2.25 million units to 2.35 million units.
Paytm: Surinder Chawla, MD and CEO of Paytm Payments Bank has resigned ‘on account of personal reasons’, the company said in a regulatory filing yesterday. The resignation would be effective from June 26.
ICICI Lombard General Insurance Company, PB Fintech: The private insurance major has entered into a strategic partnership with Policybazaar to offer its products on the latter’s platform.
ICICI Prudential Life Insurance Corporation: In an exchange filing said it has received GST notice for Rs 20.50 for FY19 from the Gujarat tax office.
Lupin: The pharma major announced launch of the first generic version of Oracea (doxycycline capsules 40 mg) in the US.
Gateway Distriparks: CFO Sikander Yadav has resigned due to personal reasons.
Stocks in F&O ban today: Bandhan Bank, Exide Industries, Hindustan Copper, Vodafone Idea, India Cement, SAIL and Zee Entertainment are the seven stocks in futures & options ban period on Wednesday.
