The Indian stock market is dependent on foreign investors. With US federal Reserve not cutting interest rates any time around, foreign investors are pulling money from the Indian market and its impact can be clearly seen.
The market closed on a red mark on Thursday. In the last 2 days, Sensex has plunged more than 1200 points and Nifty has plunged more than 300 points. Currently, the Sensex is at 60,353.27 and the Nifty at 17,999.15. Looking at the global trends, there can be a period of ups and downs in the market even today.
Dabur To Make Investors Happy
Momentum Indicator Moving Average Convergence Divergence (MACD) has indicated a rise in some stocks today i.e. on Friday. The shares of Dabur closed at Rs 571.40 on Thursday, with a jump of 2.06 per cent. It may be recalled here that Dabur has acquired a 51 per cent majority stake in Badshah Masala which has strengthened the company’s portfolio in the FMCG market. Experts say that this rise will continue even today.
Keep An Eye On These
Despite a fall in the market, HDFC Life closed with profit yesterday. Available at the price of 607.20, this share has given a return of 6.16% in the last 5 days. Its 52-week high is Rs 678.80. Similarly, Zydus Lifesciences Ltd and Hero Motocorp Ltd may also remain strong. Both these stocks had closed with gains on Thursday. Hero Motocorp closed at Rs 2,757.90, with a rise of 1.79 per cent. Zydus Lifesciences closed at Rs 432.90 with a jump of 2.14 per cent. Though Hero's performance in the last five days has been nothing special, it may now pick up momentum.
These Stocks Are In Spotlight
Besides this, Rail Vikas Nigam, Larsen & Toubro, IDBI Bank and RHI Magnesita are in news. Rail Vikas Nigam has bagged a project worth Rs 166.26 crore in joint venture with ISC Projects. Currently, the company's stock is trading at Rs 72.10. However, it closed on the red mark on Thursday. Whereas, RHI Magnesita has entered into a major deal with Dalmia Bharat Refractories. Its share is currently available at Rs 879.40. Larsen & Toubro is selling 99% stake of its subsidiary Think Tower Developers. Its stocks closed at Rs 2,089.50 on Thursday with a rise of 0.92 per cent.