- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Banking & Finance
- Energy & Infra
- Case Study
- Web Exclusive
- Property Review
- Digital India
- Work Life Balance
- Test category by sumit
Friday Market Update: Hindware, Piramal Up, NMDC Steel, Reliance Power Go Bullish
Thursday turned out to be terrific for the market and it saw a jump. Nifty and Sensex saw significant gains and closed on green, bringing a smile on the investors faces. Friday is the last trading day of the week and experts say that fluctuations may continue
Photo Credit :
It was a terrific Thursday for the stock market, and both BSE and NSE came out of their midweek crisis. The BSE Sensex was up by 98.84 points and closed at 61,872.62, while the NSE Nifty was up by 35.75 points and closed at 18,321.15. Friday i.e. is the last trading day of the week and experts say that there will be fluctuations in the market.
The Big Gainers
Here is a look at the big gainers on Thursday. These included Hindware Home Innovation, Kingfa Science and Technology, Tribhovandas Bhimji Zaveri and Piramal Pharma.
Hindware Home Innovation jumped by 12.87 per cent and is trading at Rs 463. In the last five days, it has gained 11.30 per cent. Kingfa Science and Technology was up by 9.93 per cent and is available at Rs 2,042. In the last one month, it has jumped 23.47 per cent.
Tribhovandas Bhimji Zaveri gained 9.13 per cent and is trading at Rs 78.30. In the last five days, it has jumped by 11.62 per cent. Piramal Pharma jumped 6.09 per cent and is trading at Rs 78.45. The 52 week high of this stock is Rs 200.
Bullish Trend In These Stocks
According to the momentum indicator MACD, there are some stocks which are showing a bullish trend. These include Reliance Power, Vikas Lifecare, NMDC Steel, and L&T Finance Holdings.
Reliance Power has gained 5.79 per cent and is available at Rs 12.80, while Vikas Lifecare is up by 10.91 per cent and is trading at Rs 3.05.
NMDC Steel is trading at Rs 40.95 following a jump of 6.64 per cent. L&T Finance Holdings gained 1.58 per cent and is trading at Rs 102.65.
Rajesh Bhosale, Technical Analyst at Angel One
The US markets reacted negatively to the FOMC meeting minutes and taking cues from there, the SGX Nifty indicated a weak opening. In line with this, our markets started on a negative note and as the day progressed, prices gradually declined to test levels of around 18200. During the last hour, however, the expiry factor came into play and prices bounced back sharply to regain the morning’s lost ground and end with gains of 0.20% above 18300.
There’s no major change in the price action but the strong bounce from the lower levels is a positive sign for the bulls, as it suggests that our markets are still finding support at key levels despite unfavorable global cues. However, going ahead, for the momentum to continue, prices need to sustain a break above 18400 – 18450 levels. A move beyond these levels would end this consolidation phase and trigger momentum towards new highs for the coming month. On the flip side, 18200 is a significant level, as it coincides with the 20-day exponential moving average (EMA). Any move towards this level is likely to be bought into.
Traders should also keep an eye on global developments, as an improvement in global sentiment could be a catalyst for the Indian markets to come out of the recent congestion on the upside and infuse fresh positive momentum.
(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)