Page 24 - Prashanth Tapse News Today

With sectoral tailwinds such as increasing global temperatures, higher consumer purchasing power and spending, urbanization, and favorable government policies, EPACK Durable looks set to perform in the medium to long term duration, analysts said, advising allottees to hold the shares for a medium to long term horizon.

Epack Durable IPO: Analysts expect the stock to open somewhere between Rs 235 and 253 against the IPO price of Rs 230

BSE Sensex surged 1,240.90 points, or 1.76 per cent, to settle at 71,941.57. NSE's Nifty50 index rallied 385 points, or 1.8 per cent, to end the session at 21,737.60 for the day.

(This story has not been edited by THE WEEK and is auto-generated from a PTI

"On the technical front, with the immediate resistance being at the 21,400 mark, we expect the market to go down further towards 21,100 and 21,000 eventually, and if it breaks the 21,000 level we can witness more selling pressure up to 20,900-20,500 levels," said Prashanth Tapse, Senior VP (Research), Mehta Equities.

Based on the OI percentage, 109 stocks saw long unwinding which were ONGC, Alkem Laboratories, United Breweries, Bharti Airtel, and Britannia Industries.

Among broader indices, BSE Midcap, Smallcap and Largecap indices fell 1.6 percent, 0.5 percent and 0.9 percent, respectively.

Q3 results today: A total of 82 listed companies including Tata Technologies, Vedanta, Adani Power, SBI Life Insurance, and Punjab National Bank, are set to unveil their Q3FY24 results on January 25

On the stock-specific front, Zee, Tech Mahindra, Adani Power and few other counters will be in focus today.

HCL Technologies, Infosys, Wipro, Axis Bank were among the major laggards