After setting a new closing high on Tuesday, BSE Sensex and Nifty 50 may open at a new all-time high on the weekly F&O expiration date. On Tuesday, the BSE Sensex rose 210 points or 0.4% to 55,792.27, while the Nifty 50 index closed at 16,614, up 0.31% or 51.55 points. Analysts believe that Nifty 50 reaching 16,850 points is the next target in the short term. “The index successfully achieved the target of 16,600 points. If we can stay above that level, the next level should be 16,850,” said Manish Hathiramani, a proprietary index trader and technical analyst at Deen Dayal Investments.
Stocks to watch
Reliance Navy and Engineering: Sources close to the development told FE that a Naveen Jindal group company and two other companies may have submitted final bids for the troubled shipbuilding company Reliance Naval and Engineering. The other two bidders include the Netherlands-based APM Terminals and the consortium of GMS, Dubai and Turkey’s BESIKTAS.
Vodafone philosophy: After Bharti Airtel, Vodafone increased the tariffs on its entry-level prepaid plan by approximately 61%. Vodafone Idea has made the 79 rupees plan as an entry-level package, suitable for most circles, and valid for 28 days.
HDFC Bank: According to Reuters, the Reserve Bank of India (RBI) allowed HDFC Bank to issue new credit cards on Tuesday after the bank imposed a ban as a punishment for eight months due to technical failures.