2024-04-26 13:52:17
New Delhi: Domestic stock markets witnessed a rise for the fifth consecutive trading session on Thursday due to strong buying in bank, finance and metal stocks. BSE Sensex had once again crossed the 74,000 mark by rising by about 487 points. At the same time, NSE Nifty closed above 22,550. There was heavy selling in early trading on BSE. But, later it was successful in recovering and taking the lead. BSE’s 30-share Sensex closed at 74,339.44 points, up 486.50 points or 0.66 percent. At one point during trading, it jumped by 718.31 points to reach 74,571.25. Similarly, Nifty of National Stock Exchange (NSE) also increased by 167.95 points or 0.75 percent to reach 22,570.35 points. Axis Bank, included in the Sensex group, made a big jump of six percent. The bank got support from investors due to its positive quarterly results. Apart from this, State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL also closed with gains. On the other hand, after going through the strict action of the Reserve Bank, there was a huge fall of 10.85 percent in the shares of Kotak Mahindra Bank. Apart from this, shares of Hindustan Unilever, Titan, Bajaj Finance, Maruti and Asian Paints also declined.
There is a rise in these shares
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Dixon Technologies, Bajaj Finance, Cummins India, Kirloskar Industries and Craftsman Automation. 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 Bharat Bijlee, M&M, JSW Energy, Symphony and Tata Power. This means that now these shares have started falling.
Buying is visible in these shares
The stocks which are seeing strong buying include SBI, JSW Steel, Eicher Motors, Hindalco, and ICICI Bank. These shares have crossed their 52 week high level. This indicates bullishness in these shares.
Selling pressure in these stocks
The stocks which are seeing selling pressure include Kotak Bank and Dalmia Bharat.