2024-04-27 10:52:42
New Delhi: Local stock markets rose for the fourth consecutive trading session on Wednesday due to buying in metal and commodity stocks amid strength in foreign markets. BSE’s 30-share Sensex closed at 73852.94 points, up 114.49 points or 0.16 percent. At one time during trading, it jumped by 383.16 points and reached 74121.61 points. Similarly, Nifty of National Stock Exchange (NSE) rose by 34.40 points or 0.15 percent to reach 22402.40 points. Among the companies included in the Sensex group, JSW Steel, Tata Steel, Power Grid, Kotak Mahindra Bank, UltraTech Cement, NTPC and Bajaj Finance. She was mainly in the lead. On the other hand, there was a decline in the shares of Tata Consultancy Services, Tech Mahindra, Maruti, Reliance Industries and Titan.
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, Inox India 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 Nuvama Wealth Management, Thermax, Bharat Bijlee and M&M. This means that now these shares have started falling.
Buying is visible in these shares
The stocks which are seeing strong buying include Hindalco, Eicher Motors, Maruti Suzuki, Bharti Airtel and Grasim Industries. These shares have crossed their 52 week high level. This indicates bullishness in these shares.