Market On Friday: Market Movement Steady, Watch Out For Tata Stocks

After a lacklustre week, the stock market finally saw some cheer on Thursday with both NSE and BSE gaining. The Sensex was up 128.33 points and closed at 74,611.11, while the Nifty was up 43.35 points and closed at 22,648.20. As per the market experts, the mood is still quite volatile although the Nifty is showing signs of resurgence. 

Bullish Momentum In These Stocks

The momentum indicator MACD has been hinting bullish movement in some stocks. These include Tata Motors, Tata Technologies, Tata Steel and Bharat Heavy Electricals.

Tata Motors is trading at Rs 1,028.80, following a jump of 2.07 per cent. Tata Technologies saw a gain of 2.33 per cent, trading at Rs 1,092. 

Tata Steel has been showing a bullish momentum and gained 1.58 per cent, currently available at Rs 167.60. In the last one year, it has given 52.78 per cent returns. 

Bharat Heavy Electricals is up by 4.12 per cent and is trading at Rs 293.30. 

Top Gainers That Closed On A High Note

Here are some of the top gainers of the last trading session that closed on a high note. These included TVS Electronics, Amrutanjan Health Care, Raymond and IndiaMART InterMESH.

TVS Electronics saw a gain of 20 per cent and is trading at Rs 362.75. In the last five days, it has given 19.33 per cent returns. Amrutanjan Health Care was up by 11.93 per cent, available at Rs 782. In the last five days, it has gained 15.19 per cent.  

Raymond gained 9.35 per cent, trading at Rs 2,300. In the last five days, it has given 9.47 per cent returns. IndiaMART InterMESH jumped 8.11 per cent and is trading at Rs 2,858.20. The 52-week high for this stock is Rs 3,335.55.

Gold And Silver Prices For The Day 

22k gold is priced at Rs 66,260 per 10 grams

24k gold is priced at Rs 72,280 per 10 grams

Silver is priced at Rs 83,600 per kilogram. 

Market Experts' Insights

Prashanth Tapse, Senior VP (Research), Mehta Equities 

In today's market outlook, Nifty is showing signs of resurgence following a recent downturn, largely propelled by Federal Reserve Chairman Jerome Powell's reassuring stance on interest rates. Positive indicators include heightened buying activity from both FIIs and DIIs, coupled with WTI oil's decline below $81 per barrel. The removal of restrictions on Bajaj Finance's eCOM adds to the upbeat market sentiment. Investors are eagerly awaiting the U.S. jobs report for April and keeping an eye on Q4 corporate earnings from India Inc. Technical analysis points to Nifty potentially surpassing the psychological 23,000 mark, with significant support and resistance levels outlined. The recommended trades for Nifty and Bank Nifty are provided, along with optimistic sentiments regarding select stocks like COAL INDIA and TATA MOTORS. Also, IRCTC emerges as a standout pick due to its promising momentum prospects