2024-03-24 01:29:41
New Delhi: Amid strong trends in foreign markets, investors had made extensive purchases in shares yesterday. Due to this, domestic stock markets closed with gains on Thursday. Bombay Stock Exchange (BSE) Sensex rose 539.50 points. This 30-share index jumped 0.75 percent to reach 72641.19 points. At one time during trading it had increased by 780.77 points to reach 72,882.46 points. Similarly, Nifty of National Stock Exchange (NSE) also rose by 172.85 points or 0.79 percent and closed at 22,011.95 points. The US central bank Federal Reserve has estimated that interest rates will be cut three times this year. After this, there was a rise in the foreign markets. Among the Sensex companies, NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and Larsen & Toubro were the biggest gainers. On the other hand, there was a declining trend in the shares of Bharti Airtel, Maruti Suzuki, ICICI Bank and Asian Paints.
There is a rise in these shares
Momentum indicator Moving Average Convergence Divergence (MACD) has shown bullish trend on Five-Star Business Finance, Varroc Engineering, UNO Minda, Sapphire Foods, CIE Automotive India and Praj Industries. 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 Ajanta Pharma and Tata Chemicals. This means that now these shares have started falling.
Buying is visible in these shares
The stocks which are seeing strong buying include ABB Power, CG Power and Industrial Solutions, Thermax, Cummins India, Avenue Supermart and Bharti Airtel. 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 IIFL Finance and HUL.