Market On Thursday: Dull Days To Continue, NHPC, IDFC First, JM Financial Show Strength

The week continues to be a dull mood and on Wednesday too, the market saw a decline. The NSE Nifty was down 38.55 points and closed at 22,604.85 and the BSE Sensex was down 188.50 points and closed at 74,482.78. Experts say that even Thursday’s trading is expected to be volatile. 

Bullish Momentum In These Stocks

The momentum indicator MACD has been hinting bullish movement in some stocks. These include NHPC, IDFC First Bank, Power Finance Corporation and JM Financial.

NHPC is trading at Rs 95.95, following a jump of 2.73 per cent. IDFC First Bank saw a gain of 0.55 per cent, trading at Rs 82.10. In the last one year, it has given 28.58 per cent returns. 

Power Finance Corporation has been showing a bullish momentum and gained 5.78 per cent, currently available at Rs 439.50. JM Financial is up by 8.83 per cent and is trading at Rs 88.70. 

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 Hisar Metal Industries, Hindustan Motors, Gillette India & Holidays and Godrej Industries.

Hisar Metal Industries saw a gain of 20 per cent and is trading at Rs 222. In the last five days, it has given 18.91 per cent returns. Hindustan Motors was up by 10 per cent, available at Rs 34.65. In the last five days, it has gained 2.97 per cent.  

Gillette India gained 7.26 per cent, trading at Rs 6,658. In the last five days, it has given 4.23 per cent returns. Godrej Industries jumped 6.16 per cent and is trading at Rs 965. The 52-week high for this stock is Rs 968.

Gold And Silver Prices For The Day 

22k gold is priced at Rs 65,540 per 10 grams

24k gold is priced at Rs 71,500 per 10 grams

Silver is priced at Rs 82,900 per kilogram. 

Market Experts' Insights

Prashanth Tapse, Senior VP (Research), Mehta Equities 

“Today's trading is expected to be volatile as the Federal Reserve maintains interest rates at a 23-year high due to inflation concerns. Positive factors include record-high GST revenue, FIIs and DIIs being net buyers, and WTI oil prices falling below $80 a barrel. Investors anticipate a pre-election rally and Federal Reserve Chair Powell dismissing talks of 'stagflation'. Nifty's crucial levels are at 22800 resistance and 22000 support. Preferred trades include buying Nifty and Bank Nifty within specified zones. Stocks like COAL INDIA, GRASIM, INDUSINDBANK, and COLPAL are bullish with an inter-week/inter-month perspective. IRCTC stands out as a top buy, driven by momentum with targets set at 1068/1119 and aggressive targets at 1309.”

(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)