Sensex and Nifty closed on a flat note on Wednesday as markets remained in a consolidation phase. Sensex closed at 73,876 after declining 0.037 per cent as compared to the previous close while Nifty recorded a 0.083 per cent to end at 22,434.
Ahead of key macro data release in United States and RBI MPC meeting in India, market experts say investors are trading cautiously. Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, said, "Markets are trading with caution ahead of the RBI policy meeting and key macro data to be released in the US and Europe. Also, US Fed Chair Powell's speech will be keenly watched. We expect the market to consolidate over the next few days until the events unfold."
Whether the markets break away from the cautious consolidation zone today remains to be seen. Here are the stocks to watch today:
1) Axis Bank: Competition Commission of India has allowed the company to infuse Rs 1,612 crore in Max Life Insurance. Its shares closed at Rs 1,061 after gaining 1.32 per cent on Wednesday.
2) Vedanta: The company has expanded its Alumina refining capacity by 3.5 million tonne per annum at Lanjigarh refinery in Odisha. Its shares closed at Rs 298.10 after recording a 1.06 per cent fall on Wednesday.
3) KEC International: The company informed that it has secured orders worth Rs 816 crore in various businesses, including civil and cables. Its shares closed at Rs 729.85 on Wednesday after declining 0.70 per cent.
4) RBL Bank: Total deposits in the bank saw a 22 per cent yoy growth in Q4FY24. Gross advances posted a 5 per cent rise. Its shares gained 1.10 per cent to close at Rs 253.30 on Wednesday.
5) GE Power: The company has received projects worth Rs 774.9 crore from Jaiprakash Power. Its shares jumped 10.14 per cent to close at Rs 334.60 on Wednesday.
