2024-08-23 18:06:45
New Delhi: The local stock markets witnessed a good rise on Tuesday due to buying in bank, financial and auto stocks amid strength in international markets. The 30-share BSE Sensex closed at 80,802.86 points with a gain of 378.18 points or 0.47 percent. During trading, it had jumped to 518.28 points at one time. Similarly, the National Stock Exchange (NSE) Nifty rose for the fourth consecutive day. It closed at 24,698.85 points with a gain of 126.20 points or 0.51 percent. Out of the 30 companies included in the Sensex, Bajaj Finserv, IndusInd Bank, Tech Mahindra, Bajaj Finance, Kotak Mahindra Bank, Axis Bank, NTPC and Sun Pharma were the major gainers. On the other hand, the stocks that remained in loss included Bharti Airtel, ITC, Adani Ports, JSW Steel and Tata Motors.
These stocks are showing growth
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Bengal & Assam Company, TCS, Shriram Finance, Caplin Point Laboratories, Sansera Engineering, Awfis Space Solutions and Mphasis. 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 BASF India, IFB Industries, Jubilant Ingrevia and Windlas Biotech. This means that these stocks have started falling now.
Buying seen in these shares
The stocks which are witnessing strong buying include Godfrey Philips, Balrampur Chini, Vijaya Diagnostic, ICICI Securities, UTI AMC, Bombay Burmah and Praj 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.)