2024-07-07 02:24:04
New Delhi: The local stock markets were bullish on Thursday. The BSE Sensex rose 63 points to close above 80,000 points for the first time. The NSE Nifty also remained at a record high. Amid positive global sentiment, investors bought select stocks led by ICICI Bank, Infosys and TCS, which led to a rise in the market. The 30-share BSE Sensex closed at an all-time high of 80,049.67 points with a gain of 62.87 points or 0.08 per cent. During trading, at one time it jumped 405.84 points to 80,392.64 points. But later it came down due to profit booking. Similarly, the National Stock Exchange (NSE) Nifty also closed at a new peak of 24,302.15 points with a gain of 15.65 points or 0.06 per cent. During trading, it rose 114.5 points to reach 24,401 points. Among the Sensex stocks, HCL Technologies, ICICI Bank, Tata Motors, Sun Pharmaceuticals, Tata Consultancy Services, Infosys, Kotak Mahindra Bank and Mahindra & Mahindra were the main gainers. The stocks that remained in loss included HDFC Bank, Bajaj Finance, Larsen & Toubro, Tech Mahindra, UltraTech Cement and IndusInd Bank.
These stocks are showing growth
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on AstraZeneca, Cochin Shipyard, Hudco, Linde India, HFCL and Cadila Healthcare. MACD is known to indicate trend reversal in traded securities or indices. When MACD crosses the signal line, it gives a bullish signal. It indicates that upward movement can be seen in the stock price. Similarly, it also indicates a bearish divergence.
Signs of recession in these stocks
MACD has given a bearish signal in the shares of Century Ply, Nuvoco Vistas, SRF, Ratnamani Metal, Caplin Point and Global Health. This means that now the decline has started in these shares.
Buying seen in these shares
The stocks which are witnessing strong buying include Mazagon Dock, Astrazeneca, NBCC, Cochin Shipyard, GRSE, Concord Biotech and Lupin. These stocks have crossed their 52-week high. This indicates a rise in these stocks.