New Delhi: Local stock markets witnessed a decline for the second consecutive session on Wednesday. Amid continuous withdrawal of foreign funds and weak trend of international markets, investors had sold selected shares. Due to this both the major indices came down. Sensex fell by 319 points. At the same time, Nifty had fallen below the level of 25,000 points. BSE‘s 30-share Sensex slipped 318.76 points or 0.39 percent and closed at 81,501.36. At one point during trading, it fell 461.86 points to 81,358.26 points. Similarly, Nifty of National Stock Exchange (NSE) also fell by 86.05 points or 0.34 percent and closed at 24,971.30 points. Sensex companies include Mahindra & Mahindra, Infosys, Kotak Mahindra Bank, JSW Steel, Adani Ports, Tata Motors, ITC and Titan. There was the biggest decline in the shares of. On the other hand, shares of HDFC Bank, Bharti Airtel, Reliance Industries, Asian Paints and State Bank of India closed with profits.
There is a rise in these shares
Momentum indicator Moving Average Convergence Divergence (MACD) has shown bullish trend on Kalyani Investment Company, Garware Technical Fibres, Rainbow Childrens Medicare, Godrej Properties and Goldiam International.
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 Kaycee Industries, Trent, Coforge, LTIMindtree and Blue Dart Express. This means that now these shares have started falling.
Buying is visible in these shares
The stocks which are seeing strong buying include ABSL AMC, UTI AMC, Amber Enterprises, Nuvama Wealth Management, HDFC AMC, CAMS and GE T&D India. These shares have crossed their 52 week high level. This indicates bullishness in these shares.
Selling pressure is visible in these shares
The stocks which are seeing selling pressure include CreditAccess Grameen. This stock has crossed its 52-week low. This indicates softness in this stock.
(Disclaimer: The recommendations given in this analysis are those of individual analysts or broking companies, and not of NBT. We advise investors to consult certified experts before taking any investment decision as stock market conditions change rapidly. Can.)