2024-09-05 01:35:37
New Delhi: The local stock market reached new record levels on Monday amid inflow of foreign funds and a rise in US markets. The 30-share BSE Sensex closed at a new high for the 10th consecutive session. The Sensex jumped 194.07 points or 0.24 per cent to a new high of 82,559.84 points. During the day’s trading, at one point it rose 359.51 points to reach an all-time high of 82,725.28 points. Similarly, the National Stock Exchange (NSE) Nifty also closed at a new high of 25,278.70 points, up 42.80 points or 0.17 per cent. During the day’s trading, it touched an all-time high of 25,333.65 points. In this way, Nifty closed with gains for the 13th consecutive day. Among the Sensex companies, Bajaj Finserv, Bajaj Finance, HCL Tech, IndusInd Bank, ETC, UltraTech Cement, Axis Bank and Infosys were successful in gaining the most. On the other hand, shares of Tata Motors, NTPC, Mahindra & Mahindra, Bharti Airtel, Larsen & Toubro and Power Grid Corporation registered a decline.
These stocks are showing growth
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on Page Industries, Safari Industries, Sun Pharma, Britannia, Paytm, SRF and Newgen Software Technologies. 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 the shares of Sky Gold, Nile, Kfin Technologies, Fine Organics Industries, Affle and Aurobindo Pharma. This means that now the decline has started in these shares.
Buying seen in these shares
Stocks which are witnessing strong buying include Gujarat Gas, Bajaj Holdings, Godrej Industries, Kalyan Jewellers, UTI AMC, GSPL and Radico Khaitan. These stocks have crossed their 52-week high. This indicates a rise 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.)