New Delhi: Domestic stock markets were successful in recovering from three days of decline on Friday. This was due to strong buying in banks and financial stocks domestically amid strong global cues. A gain of 218 points was recorded in Sensex. At the same time, Nifty had jumped 104 points. The 30-share Sensex of Bombay Stock Exchange (BSE) recovered from its initial low levels and closed at 81,224.75 points with a gain of 218.14 points or 0.27 per cent. At one time during trading it had increased by 384.54 points to reach 81,391.15 points. The Nifty of the National Stock Exchange (NSE) also closed at 24,854.05, up 104.20 points or 0.42 per cent in volatile trading. Among the 30 companies of the Sensex, Axis Bank shares gained almost six per cent on the basis of good September quarter results. Had jumped. Apart from this, ICICI Bank, Tata Motors, Tata Steel, NTPC, JSW Steel, State Bank of India and Adani Ports also closed with gains.
On the other hand, shares of leading IT company Infosys had registered a decline of more than four percent. Infosys’ second quarter results failed to inspire confidence among investors. Apart from this, shares of Asian Paints, Nestle, Tech Mahindra, HCL Technologies, Hindustan Unilever and ITC also closed with a decline.
There is a rise in these shares
Momentum indicator Moving Average Convergence Divergence (MACD) has shown bullish trend on Aditya Birla Real Estate, Tejas Networks, Zee Entertainment Enterprises, Wipro, IDBI Bank and Bank of Baroda.
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 BSE, Varun Beverages, Olectra Greentech, Varroc Engineering, Lloyds Metals and DB Realty Express. This means that now these shares have started falling.
Buying is visible in these shares
The stocks which are seeing strong buying include Motilal Oswal, Aditya Birla Real Estate, Anand Rathi Wealth, DOMS Industries, MCX India, NALCO and Torrent Power. 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 Ujjivan Small Finance Bank, Easy Trip Planners and Zee Entertainment Enterprises. These shares have crossed their 52-week low. This indicates softness in these shares.
(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.)