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Bank Nifty has successfully maintained its short-term moving averages of 10 and 20 DEMA, positioned around 46,000. Now it faces crucial resistance at 47000 levels.
Stocks that were in focus included names like Vedanta, which fell 3.32%, Hindalco, which jumped 4.25%, and PEL, whose shares gained 1% on Wednesday.
Indian Hotels share: The hotel stock, which closed at Rs 124.08 on December 10, 2020 rose to a high of Rs 441.55 in Monday's trade, clocking 255.85% returns during the period.
Shares of Indian Hotels Ltd hit their record high amid a record run in Sensex and Nifty on Wednesday. Indian Hotels shares rose 1.39% to an all-time high of Rs 440.55 against the previous close of Rs 434.50 on BSE. The stock has climbed 254% in the last three years. Total 1.32 lakh shares of the firm changed hands amounting to a turnover of Rs 5.78 crore on BSE. Market cap of the firm rose to Rs 62,320 crore on BSE. The Tata Group’s multibagger stock fell to a 52-week low of Rs 280.20 on January 27, 2023.
Stocks that were in focus included names like L&T, which rose 1.88%, Cochin Shipyard, which fell 10.8%, and BEML, whose shares declined 10.61% on Tuesday.