Stock Market On Friday: Market Gains Again, Good Time For Investors
Thursday managed to revive the market once again. Will the trading week end on a positive note? Here is what the experts feel
Thursday saw the market glory back again. The NSE Nifty gained 203.30 points and closed at 22,403.85, while the Sensex gained 676.69 points, closing at 73,663.72. As per the market experts, Corporate results from major companies like JSW Steel and Pfizer are expected today which may give some positive boost to the market.
Bullish Momentum In These Stocks
The momentum indicator MACD has been hinting bullish movement in some stocks. These include Ircon International, Punjab National Bank, GTL Infrastructure and Oil and Natural Gas Corporation.
Ircon International is trading at Rs 262.10, following a jump of 7.97 per cent. Punjab National Bank saw a gain of 0.80 per cent, trading at Rs 125.30.
GTL Infrastructure has been showing a bullish momentum and gained 3.33 per cent, currently available at Rs 1.55. In the last one year, it has given 93.75 per cent returns.
Oil and Natural Gas Corporation is up by 1.12 per cent and is trading at Rs 276.50.
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 Somany Ceramics, Hindustan Aeronautics, Titagarh Rail Systems and Blue Star.
Somany Ceramics saw a gain of 15.60 per cent and is trading at Rs 718. In the last five days, it has given 13.95 per cent returns. Hindustan Aeronautics was up by 10.89 per cent, available at Rs 4,637.90. In the last five days, it has gained 20.18 per cent.
Titagarh Rail Systems gained 9.30 per cent, trading at Rs 1,216. In the last one month, it has jumped 23.86 per cent. Blue Star jumped 7.50 per cent and is trading at Rs 1,599. The 52-week high for this stock is Rs 1,634.40.
Gold And Silver Prices For The Day
22k gold is priced at Rs 67,860 per 10 grams
24k gold is priced at Rs 74,030 per 10 grams
Silver is priced at Rs 89,200 per kilogram.
Market Experts' Insights
Prashanth Tapse, Senior VP (Research), Mehta Equities
The Dow Jones Industrial Average has hit 40,000 for the first time, buoyed by optimism from a softer-than-expected April inflation report, which has increased bets on a September rate cut by the Federal Reserve. This positive sentiment extends to Indian markets, with the Nifty likely trading between 22000-22500, facing resistance at 22500 and support at 22000. Key stock picks include TVS Motors, Indian Hotels, IRCTC, and Coal India. Notably, Balrampur Chinni is recommended for buying at CMP 379, targeting 395/403 with aggressive targets at 419 due to its oversold status. Corporate results from major companies like JSW Steel and Pfizer are also expected today.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)
