2024-09-13 20:08:33
New Delhi: Encouraged by the rise in the US markets and fresh buying by foreign funds, the local stock market closed with gains for the second consecutive day on Tuesday. The Sensex registered a gain of 362 points. At the same time, the Nifty again closed above the psychological level of 25,000 points. There was a bullish sentiment in the stock markets due to buying in Information Technology (IT), Telecom and select banking stocks. The 30-share BSE Sensex closed at 81,921.29 points, up 361.75 points or 0.44 percent. During trading, at one time it jumped 637.01 points to reach 82,196.55 points. Similarly, the Nifty of the National Stock Exchange (NSE) also rose by 104.70 points or 0.42 percent to reach 25,041.10 points. Among the Sensex companies, NTPC, HCL Technologies, Bharti Airtel, Tech Mahindra, Power Grid, Axis Bank, Tata Consultancy Services and Adani Ports closed with gains. On the contrary, shares of Bajaj Finserv, Bajaj Finance, Hindustan Unilever, Mahindra & Mahindra, Tata Motors and State Bank of India (SBI) declined.
These stocks are showing growth
Momentum indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend on TVS Holdings, PI Industries, Hawkins Cookers, RBM Infracon, Himadri Speciality Chemical, Tata Communications, Dodla Dairy and GM Breweries. 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 Craftsman Automation, Swaraj Engines, Shriram Finance, SBI Life Insurance, Ceat, Muthoot Finance and Motilal Oswal Financial Services. This means that now the decline has started in these shares.
Buying seen in these shares
Stocks which are witnessing strong buying include Prism Johnson, Sumitomo Chemical, Aether Industries, Glenmark Life, Piramal Pharma, Himadri Speciality and Century Textiles. 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.)