New Delhi: The local stock market was declining for the third consecutive day on Wednesday. BSE Sensex lost more than 138 points. The market declined due to profit-booking in select stocks amid continued capital withdrawal by foreign institutional investors. In volatile trading, BSE Sensex closed at 80,081.98 points, down 138.74 points or 0.17 percent. At one time during trading, the Sensex had fallen below 80,000 to 79,891.68 points. National Stock Exchange’s Nifty also closed at 24,435.50 points with a decline of 36.60 points or 0.15 percent. It fluctuated between 24,604.25 and 24,378.10 points during trading. Among the 30 Sensex stocks, Mahindra & Mahindra, Sun Pharma, Power Grid, NTPC, Adani Ports, Larsen & Toubro, ICICI Bank and Titan were major losers. Were. On the other hand, after the release of Bajaj Finance’s second quarter financial results, the company’s shares rose by almost five percent. Other gainers included Tech Mahindra, Tata Consultancy Services, HDFC Bank, HCL Technologies and Bajaj Finserv.
There is a rise in these shares
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Systematix Corporate Services, Fusion Finance and City Union Bank.
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 Hitachi Energy, Divi’s Laboratories, Siemens, ABB India, Kaynes Technology and Ipca Laboratories. This means that now these shares have started falling.
Buying is visible in these shares
The stocks which are seeing strong buying include Amber Enterprises, Firstsource, Coforge, Persistent Systems, Max Financial, MCX India and Tube Investments. 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 Rajesh Exports, IDFC First Bank, Tanla Platforms, Capri Global Capital, Nestle India, Birla Corporation and RBL Bank. 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.)