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Market Update: Hi Tech Gears, Unichem Make It A Joyride For Investors, Watch Out For Coal India, Power Grid

Tuesday i.e. today is a very important day for the share market as the Union Budget 2023-24 will be tabled tomorrow on 1 February. The entire week will see the impact of the budget

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The impact of the Hindenburg report was seen on the share market on the first trading day of the week as well. The BSE Sensex closed at 59,500.41 while the NSE Nifty closed at 17,648.95, up by 0.25 per cent. This week is an important one for the market for two reasons - The union budget that would be tabled tomorrow i.e on 1 February and the increase in interest rates by US Federal. The market is expected to be on a roller coaster ride even today. 

Top Gainers 

Hi-Tech Gears continued to be bullish even on Monday. It was trading at Rs 259.00 and jumped 12.05 per cent. In the last five days this stock has seen a gain of 1.55 per cent. Unichem Laboratories too was amongst those which made the investors happy. Trading at Rs 328.00, this stock jumped 10.27 per cent on Monday and 14.57 per cent in the last 5 days. Mahindra CIE Automotive continues its upward ride closing at Rs 387.80, with a gain of 7.53 per cent. In the last one month this stock has given a return of 10.85 per cent to the investors. 

Benares Hotels released its Q3 report on Saturday and it has reported the highest ever EBITDA. This stock saw a gain of 8.84 per cent, closing at Rs 3,450.00. In the last one month, this stock has given a return of 27.88 per cent. 

Bullish Signals Here 

The Momentum Indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend in the shares of Reliance Industries, Mphasis, Bajaj Finserv Ltd, Samvardhana Motherson and West Coast Paper Mills

Shares of Mukesh Ambani-led Reliance closed at Rs 2,363.55 yesterday, up 1.12 per cent. For the last few days, there is a trend of softening in the shares of Reliance. It has lost 3.42 per cent in the last 5 days. Its 52-week high level is Rs 2,856.15.

Shares of IT company Mphasis also closed at Rs 2,114 on Monday with a gain of 2.01 per cent. It has given a return of 5.08 per cent in the last 5 days and 7.34 per cent in a month. Bajaj Finserv is also among those stocks which closed on the green mark on Monday. Trading at Rs 1,344.45, the stock has given a return of 1.39 per cent in the last 5 days. Whereas yesterday it went straight up to 2.30 per cent. 

Similarly, shares of Samvardhana Motherson also gained 2.37 per cent on the previous trading day, closing at Rs 73.30. The shares of West Coast Paper Mills have done exceptionally well in the midst of a soft market. The stock closed at Rs 500.70 with a gain of 4.90 per cent. Even today, these stocks are showing strong signs. 

Q3 Results expected 

The Q3 Results of these companies are expected today - Coal India, Power Grid Corporation of India, Sun Pharmaceutical Industries, UPL, ACC, BASF India, Blue Star, Edelweiss Financial Services, Great Eastern Shipping, Godrej Consumer Products, Indian Hotels, Indian Oil Corporation, Jindal Steel & Power, KEC International , KPIT Technologies, Max Financial Services, MOIL, RailTel Corporation of India, Spandana Sphoorty Financial, Star Health and TTK Prestige. Watch out on their market position as the results will have an impact on it.