2024-08-03 20:07:46
New Delhi: The upward trend in the local stock markets continued for the third consecutive day on Tuesday. The 30-share BSE Sensex closed at its highest level of 81,455.40 points with a gain of 99.56 points or 0.12 percent. At one point during trading, it jumped 459.43 points or 0.56 percent to 81,815.27 points. However, later it lost its gains due to profit booking. The National Stock Exchange (NSE) Nifty also closed at its all-time record level of 24,857.30 points with a gain of 21.20 points or 0.09 percent. Among the Sensex stocks, Tata Motors’ stock had the highest gain of three percent. Apart from this, NTPC, Bajaj Finserv, Power Grid Corporation, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were also in profit. On the other hand, shares of Sun Pharma, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries closed with a decline.
These stocks are showing growth
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Voltamp Transformers, Kaynes Technology India, AIA Engineering, Technocraft Industries and Mahanagar Gas. 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 bearishness.
Signs of recession in these stocks
MACD has given a bearish signal for Britannia Industries, P&G Heath, Universal Cables, Alkem Laboratories, Castrol India and Heritage Foods. This means that these stocks have started to fall now.
Buying seen in these shares
The stocks which are witnessing strong buying include CAMS, Fine Organic Industries, Nykaa, Jindal Saw, Nuvama Wealth Management, Deepak Fertilisers and Apar Industries. These stocks have crossed their 52-week high. This indicates a bullish trend in these stocks.
(Disclaimer: The suggestions given in this analysis are those of individual analysts or broking companies, not of NBT. We advise investors to consult certified experts before taking any investment decision. As stock market conditions can change rapidly.)