Produced by: Prashun
Designed by: Manoj Kumar
Bearish sentiment across global equities led to selling in the domestic benchmarks as investors fretted over the US Federal Reserve statement indicating one more rate hike later this year, said Shrikant Chouhan, Head of Research (Retail) at Kotak Securities. Other negative catalysts like lingering overseas fund outflows, rising US Dollar index and treasury yields and higher crude oil prices are making investors jittery, Chouhan added.
On the stock-specific front, Wipro, Mrs Bectors Food Specialities, Bajaj Healthcare, Berger Paints India, Finolex Cables, Hindustan Copper, National Fertilizers, Titagarh Rail Systems, Titan Biotech, Talbros Engineering and some others will be in focus on Friday.
Shares of Wipro settled 0.28 per cent lower at Rs 428.60 on Thursday. The company, in a post market hours exchange filing, said, Jatin Pravinchandra Dalal has resigned as chief financial officer (CFO) of the company. Wipro has appointed Aparna Iyer as the new CFO.
Mrs Bectors Food Specialities will be trading ex-dividend on September 22. The company declared a final dividend of Rs 1.75 for the financial year 2022-23 (FY23). The stock on Thursday settled 1.92% lower at Rs 948.80. Bourses BSE and NSE have put the securities of Mrs Bectors under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
Bajaj Healthcare Ltd will be trading ex-dividend on September 22. The company declared a final dividend of Re 1 for the financial year 2022-23 (FY23). Bajaj Healthcare on Thursday ended with 2.72% gains at Rs 439.80.
Shares of Finolex Cables will be trading ex-dividend on September 22. The company announced a final dividend of Rs 7 per equity share. Finolex also launched smart solutions in home automation, such as smart switches and smart door locks. The stock ended with 0.34% gains at Rs 1,094.55.
Shares of Hindustan Copper will be trading ex-dividend on September 22. The company announced a final dividend of 92 paise per equity share. The counter settled with 3.02% losses at Rs 154.25.
Shares of Titagarh Rail Systems will be trading ex-dividend on Friday. The company, formerly known as Titagarh Wagons, announced a final dividend of 50 paise per equity share.
Stocks such as National Fertilizers (Rs 1.26), Titan Biotech (Rs 1.80), Talbros Engineering (Rs 2) and several others will also be trading ex-dividend today.
Shares of Berger Paints India will turn ex-bonus on September 22. The company announced bonus share issue a 1:5 ratio. The stock closed 0.72% higher at Rs 753.05.
"Nifty has completed one leg of correction. For the bulls now, 19,700 would be the key level to watch out for. If the index succeeds to trade above the same, then we could expect one relief rally and above 19,700, the market could rally till 19,825-19,875. On the flip side, fresh selling is possible only after the dismissal of 19,700 and below the same, the index could slip till 19,650-19,600," Chouhan of Kotak Securities said.
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