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Budget Day For Stock Market: All Eyes on FM, Watch Out For Nykaa, Vedanta, Ashok Leyland

While Tuesday brought a smile on the investor’s faces with both Sensex and Nifty closing at a green mark, today all eyes are on the union budget 2023-24 and the upwards trend is expected to continue

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Tuesday seemed to be a good pre-budget announcement day for the stock market. The Nifty closed at 17,662.15 with a gain of 0.075 per cent, while the BSE Sensex closed at 59,549.90 with a gain of 0.083 per cent. With the Union Finance Minister Nirmala Sitharaman all set to table the Budget 2023-23 in the parliament today, the market is expected to kick off the day in the green. 

Day’s Big Bulls 

Apar Industries saw a good jump on Tuesday of 20.00 per cent. The share of this aluminium and alloy conductor manufacturer is trading at Rs 1,686.80 and although it has seen its ups and downs, it has given a return of 142.86 per cent in the last one year. 

Kalyan Jewellers saw a jump of 12.62 per cent and closed at Rs 118.25. This share has seen a roller coaster ride and its 52-week high is Rs 134.20. 

Universal Cables too was amongst the top gainers of the day. A company of the MP Birla Group, their share was trading at Rs 330.95 with a jump of 11.88 per cent. In the last 5 days, this stock has seen a gain of 8.62 per cent. 

Bullish Signals In These Stocks

Here’s a look at the stocks that are being given bullish signals by the Momentum Indicator Moving Average Convergence Divergence (MACD) today. According to MACD, today i.e. on Wednesday, good growth can be seen in the shares of Vedanta, Ashok Leyland, Trident, Nykaa and Zee Entertainment Enterprises. Shares of Vedanta closed at Rs 332.70 on Tuesday with a jump of 3.36 per cent. This stock has given a return of 30.27 per cent to its investors in the last six months.

Let’s look at Ashok Leyland. The stock of this commercial vehicle maker closed yesterday with a gain of 3.50 per cent. Currently, it is trading at Rs 149.35 and its 52 week high level is Rs 169.45. It has given a return of 14.49 per cent in the last one year. 

Trident shares closed with a gain of 8.18 per cent on Tuesday. Available at Rs.34.40, this stock has given a return of 3.77 per cent in the last 5 days. Similarly, shares of Nykaa (Fsn E-Commerce Ventures) also closed at Rs 136.90, up by 2.28 per cent, and Zee Entertainment at Rs 226.70, up by 3.35 per cent, on the previous trading day.

Q3 Results expected 

The Q3 Results of these companies are expected today - Britannia Industries, Ashok Leyland, Ajanta Pharma, Alembic Pharmaceuticals, Gillette India, IDFC, Jubilant FoodWorks, Kaya, Mahindra Logistics, Ramco Systems, Raymond, Redington, RPG Life Sciences, Sundram Fasteners, Tata Chemicals, Timken India, UTI Asset Management Company, Whirlpool of India and Zuari Agro Chemicals. These companies will be in focus today and the rest of the trading week.