2024-04-20 17:25:49
New Delhi: Stock markets were closed on Wednesday on the occasion of Ram Navami. Earlier on Tuesday, Dalal Street had seen a decline for the third consecutive session. The market had come down due to heavy selling amid weak trend in foreign markets and fear of increasing tension in West Asia. Market sentiment was also affected by capital withdrawal by foreign institutional investors (FIIs). The 30-share BSE Sensex closed at 72943.68 points, down 456.10 points or 0.62 percent. At one time during trading it had fallen to 714.75 points. Similarly, Nifty of National Stock Exchange also fell by 124.60 points or 0.56 percent and reached 22147.90 points. Sensex stocks included Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services and Larsen & Co. Toubro was a major loss maker. On the other hand, the gaining stocks included Titan, Hindustan Unilever, HDFC Bank, Maruti, ITC, PowerGrid and Reliance Industries.
There is a rise in these shares
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on SterlingWilson Solar, Ingersoll-Rand and Poly Medicure. MACD is known for indicating trend reversals in traded securities or indexes. When the MACD crosses the signal line, it gives a bullish signal. This indicates that the share price may see upward movement. Similarly, it also indicates recession.
Signs of recession in these stocks
MACD has indicated bearishness in the shares of Jupiter Wagons, Indian Bank, Swan Energy, IOB, Tata Chemicals and Adani Gas. This means that now these shares have started falling.
Buying is visible in these shares
The stocks which are seeing strong buying include Exide Industries, Amara Raja Energy & Mobility, Aegis Logistics, Phoenix Mills, DOMS Industries, Eicher Motors and Jubilant Life. These shares have crossed their 52 week high level. This indicates bullishness in these shares.
Selling pressure in these stocks
The stocks which are seeing selling pressure include Bandhan Bank, Bata India and HUL.