2024-09-18 04:56:00
New Delhi: Profit booking was seen in the local stock market on Friday last week. Both the major index Sensex and Nifty closed with a slight decline. In a volatile trade, the 30-share BSE Sensex closed down 71.77 points or 0.09 per cent at 82,890.94. During trading, at one point it slipped 309.49 points to 82,653.22. Similarly, the National Stock Exchange (NSE) Nifty closed down 32.40 points or 0.13 per cent at 25,356.50. Among the companies included in the Sensex group, Adani Ports suffered the maximum loss of 1.37 per cent. After this, shares of ITC, Bharti Airtel, NTPC, Maruti, Asian Paints, Sun Pharma, Power Grid, Hindustan Unilever and Larsen & Toubro also closed down. On the contrary, a bullish trend was seen in the shares of Bajaj Finserv, Bajaj Finance, IndusInd Bank, Tata Steel, Axis Bank and Tech Mahindra.
These stocks are showing growth
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Nuvama Wealth Management, Gravita India, Info Edge, Kaynes Technology, Thangamayil Jewellery, Piramal Enterprises and Ceat. 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 for Ajanta Pharma, Eris Lifesciences, Jubilant Industries, IIFL Securities, P&G Health, Concord Control Systems and TechNVision Ventures. This means that these stocks have started to fall now.
Buying seen in these shares
Stocks which are witnessing strong buying include Jubilant Pharmova, Godfrey Phillips, Home First Finance, OFSS, Piramal Enterprises, Century Textiles and Blue Star. 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.)