Stocks To Watch: MCX, Delta Corp, HDFC Life Insurance, Tata Power, Hindustan Foods

Shares of MCX, Delta Corp., HDFC Life Insurance Co., Tata Power Co. and Hindustan Foods will be in focus on Tuesday.

The Multi Commodity Exchange of India Ltd. announced on Tuesday a revision in the transaction fees that are levied on futures and options contracts.

Delta Corp. approved the demerger and listing of the hospitality and real estate businesses on Tuesday. The businesses will come under wholly owned subsidiary Delta Penland Pvt., which was recently incorporated and is in the process of converting from a private limited company to a public company, according to an exchange filing.

HDFC Life Insurance Co. on Tuesday said its capital raising committee will meet on Sept. 27 to approve the commercial terms of the Rs 2,000 crore NCD issue that was announced two months ago.

Benchmark equity indices closed flat after the NSE Nifty 50 briefly crossed the significant 26,000 mark in the final hour of trading. Despite this, the index achieved its highest close for the third consecutive session.

The Nifty ended at 25,940.4, up 0.01% or 1.35 points, while the S&P BSE Sensex closed down 0.02%, or 14.57 points, at 84,914.04.

Despite the positive short-term market sentiment, analysts are cautioned that temporary overbought conditions may lead to range-bound activity in the near future. Analysts expect 25,850–25,800 to act as key support for the Nifty and 84,600–84,500 for the Sensex. Analysts also warned that if levels fall below 25,800 or 84,500, the upward trend could be at risk.

On the other hand, a significant move above 26,000 could pave the way for 26,100, said analysts.