2024-08-12 19:05:23
New Delhi: The local stock markets witnessed a decline on Thursday. The market came down after the Reserve Bank of India (RBI) announced its decision not to change the policy rate repo. In a volatile trade, the 30-share BSE Sensex closed down 581.79 points or 0.73 per cent at 78,886.22 points. During trading, at one point it slipped 669.07 points to 78,798.94 points. Similarly, the National Stock Exchange (NSE) Nifty also closed down 180.50 points or 0.74 per cent at 24,117 points. During trading, at one point it plunged 217.8 points. Among the 30 Sensex companies, Asian Paints, Infosys, JSW Steel, UltraTech Cement, Power Grid, Larsen & Toubro, HCL Technologies and Tata Steel were major losers. On the other hand, gainers included Tata Motors, HDFC Bank, Bharti Airtel, ITC, IndusInd Bank and Axis Bank.
These stocks are showing growth
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on RPG Life Sciences, Tips Industries, KPI Green Energy, Crisil and Ramkrishna Forgings. 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 in Deepak Nitrite, Apollo Hospitals Enterprise, Alembic Pharmaceuticals, Balmer Lawrie Investments and Bengal & Assam Company. This means that these stocks have started to fall now.
Buying seen in these shares
Stocks which are witnessing strong buying include Triveni Turbine, Kfin Technologies, DCM Shriram, Suzlon Energy, Cera Sanitary, Eris Lifesciences and Piramal Pharma. 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.)