The week continued to be a tough terrain for the investors as Thursday saw the Nifty and Sensex plunging over 3 per cent. The NSE Nifty 50 was down 345 points and closed at 21,957.50, while the BSE Sensex was down 1,062.22 points and closed at 72,404.17. As per the experts, this volatility may continue for a while in the market.
Bullish Momentum In These Stocks
The momentum indicator MACD has been hinting bullish movement in some stocks. These include State Bank of India, Zomato, Adani Power and Jupiter Wagons.
State Bank of India is trading at Rs 820, following a jump of 1.13 per cent. Zomato has been steady even in these times and saw a gain of 0.15 per cent, trading at Rs 195.75.
Adani Power has been showing a bullish momentum and gained 5.31 per cent, currently available at Rs 611.50. In the last one month, it has given 2.74 per cent returns.
Jupiter Wagons is up by 4.10 per cent and is trading at Rs 425.
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 ADF Foods, Godfrey Phillips India, One 97 Communications and TVS Motor Company.
ADF Foods saw a gain of 8.25 per cent and is trading at Rs 232.30. In the last five days, it has given 3.41 per cent returns. Godfrey Phillips India was up by 5.23 per cent, available at Rs 3,470. In the last five days, it has gained 1.20 per cent.
One 97 Communications gained 5 per cent, trading at Rs 333. In the last one month, it has declined 14.96 per cent. TVS Motor Company jumped 3.25 per cent and is trading at Rs 2,061.60. The 52-week high for this stock is Rs 2,123.00.
Gold And Silver Prices For The Day
22k gold is priced at Rs 66,140 per 10 grams
24k gold is priced at Rs 72,150 per 10 grams
Silver is priced at Rs 85,300 per kilogram.
Market Experts' Insights
Prashanth Tapse, Senior VP (Research), Mehta Equities
Gains in overseas markets are likely to help local benchmark indices register gains in early trades Friday after yesterday's sharp sell off. However, caution would be the buzzword amid pre-election jitters and intra-day volatility could continue as the election phase gathers momentum. Another worrying factor has been the pace at which FIIs have been deserting Indian equities in the current month so far, which has been making local investors nervous. With inflation in the US staying high, and the American central bank hinting that it is in no hurry to cut rates, FIIs are pulling money out of emerging markets such as India. Nifty’s technical landscape also suddenly looks treacherous again as it is now way below its 21-DMA and 50-DMA with probable double top pattern on the daily charts. The line in the sand is at Nifty’s make or break support at 21710 mark.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)
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