Last week, it was a good trading week for the stock market as it closed with significant gains. The NSE Nifty was up 247. 35 points and closed at 21,894.
55, and the BSE Sensex was up 847. 27 and closed at 72,568. 45.
As per experts, the IT stocks have fuelled the bullish movement of the market and it may continue for a while. Bullish Momentum In These Stocks The momentum indicator MACD has given indications about some stocks that are in a bullish mode at the moment. These include Indian Railway Finance Corp, Jio Financial Services, Tata Steel and Rail Vikas Nigam.
After a good run in 2023, Indian Railway Finance Corp is trading at Rs 113. 55 following a jump of 6. 27 per cent.
Jio Financial Services too continued with its bullish run in the market and gained 1. 33 per cent, trading at Rs 254. 90.
Tata Steel gained 0. 41 per cent, and is available at Rs 135. 45.
In the last one year it has given 12. 92 per cent returns. Rail Vikas Nigam is up by 1.
33 per cent and is trading at Rs 202. 45. Top Gainers Of The Day That Closed On A High Note Here are some of the top gainers during Thursday’s trading session that closed on a high note.
These included Dhanlaxmi Bank, Aditya Birla Money, Zuari Agro Chemicals and Coffee Day Enterprises. Dhanlaxmi Bank saw a gain of 19. 97 per cent and is trading at Rs 36.
35. In the last five days, it has gained a good 17. 45 per cent.
Aditya Birla Money was up by 11. 25 per cent, available at Rs 140. 40.
In the last one month it has jumped 31. 09 per cent. Zuari Agro Chemicals gained 10.
42 per cent, trading at Rs 230. In the last five days, it has gained 16. 63 per cent.
Coffee Day Enterprises jumped 8. 45 per cent and is trading at Rs 66. 10.
The 52-week high for this stock is Rs 68. Gold And Silver Prices For The Day 22k gold is priced at Rs 58,000 per 10 grams 24k gold is priced at Rs 63,270 per 10 grams Silver is priced at Rs 76,500 per kilogram. Market Experts’ Insights Prashanth Tapse, Senior VP (Research), Mehta Equities : The GIFT Nifty reflects a positive start for the stock market, with Nifty and Sensex reaching historic highs fueled by robust gains in IT stocks.
Despite the bullish momentum, concerns arise from India’s retail inflation hitting a four-month high of 5. 69 per cent and a significant drop in the industrial growth rate to an 8-month low of 2. 4 per cent.
Technically, Nifty’s bias remains positive, targeting 22,100, while Bank Nifty’s intraday support is at 47,401. Recommended trades include buying Nifty at CMP with a stop at 21,501 and targets at 22,000/22,100, and Bank Nifty at CMP with a stop at 46,851 and targets at 48,100/48,636. The chart of the day is bullish on specific stocks, and CEINSYS TECH is highlighted as a top buy with a rationale for a 12-15 months holding period.
Noteworthy corporate earnings include Jio Financial Services, Angel One, PCBL, Choice International, Kesoram Industries, Fedbank Financial Services, and Nelco. Finally, a reminder that Wall Street is closed today for Martin Luther King Jr. Day.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely).
From: businessworld
URL: https://www.businessworld.in/article/Monday-At-Market-IRFC-Jio-Financial-To-Open-Strong-Coffee-Day-Wakes-Up-To-Strength-/15-01-2024-506069
