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Market Update: Sun Pharma, GAIL, Ashok Leyland Keep Bull Happy, Eye On Axis Bank, Poonawalla Fincorp
The week opened with a smile for the stock market, as both Nifty and Sensex closed at the green mark. Experts say that even today, the market will have its share of ups and downs
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Monday proved to be a good day for the stock market, as both Nifty and Sensex closed on the green mark. Nifty closed at 18,118.55 with a gain of 0.50 per cent, while the Sensex closed at 60,941.67 with a gain of 0.53 per cent. The selling of shares by Foreign Institutional Investors (FII) proved to be a shot in the arm for the market. Tuesday too will see a lot of ups and downs in the market.
The Big Jumps
Monday saw some stocks taking a big leap. The stocks of Goldstone Technologies jumped by 19.94 per cent to close at Rs 64.95. This stock has seen a growth of 44.17 per cent in the last five days. The shares of Kabra Extrusion Technik too saw a good gain of 18.26 per cent to close at Rs 554.95. This company has been around since 1982 and has seen a good gain of 8.77 per cent in the last five days.
Meanwhile, stocks of Ashok Leyland, Sun Pharmaceutical Industries and Bajaj Auto too closed with a gain on Monday. Ashok Leyland closed at Rs 147.45 with a gain of 2.36 per cent, while Bajaj Auto was trading at Rs 3,626.95 up by 1.52 per cent. Sun Pharmaceutical Industries closed at Rs 1,050.10, up by 1.92 per cent. This stock is moving towards its 52-week level of Rs 1,070.95.
Bullish Signals In These Stocks
If the Momentum Indicator Moving Average Convergence Divergence (MACD) is to be believed, the shares of Torrent Power, Bandhan Bank, GAIL and Kotak Mahindra Bank may remain bullish today. Torrent Power's share is currently available at Rs.490. On Monday, it registered an impressive increase of about 7 per cent. It has given a return of 2.53% in the last five days. Torrent Power, if one may recall, is in the race to buy Reliance Capital. The stock of Bandhan Bank also gave a return of 4.68 per cent to its investors yesterday. This share is trading at Rs 248.25.
GAIL's share is available at Rs 102.20. It has gained 5.36 per cent in the last 5 days. Its 52-week high level is Rs 115.67. Kotak Mahindra Bank registered a gain of more than 1 per cent on Monday. Available at Rs 1,781.75, the stock is moving towards its 52-wk high of Rs 1,997.55. Even today, a boom can be seen in these shares.
Watch Out For These
Keep an eye on the shares of Axis Bank, Dilip Buildcon and Poonawalla Fincorp today. An increase in the profit of the private sector Axis Bank has been recorded in the December quarter. Similarly, the third quarter profit of Poonawalla Fincorp has been 89 per cent higher. While the joint venture of Dilip Buildcon and Skyway Infraprojects has got a big project in Madhya Pradesh. Shares of Dilip Buildcon are currently available at Rs 216.30, Axis Bank at Rs 930 and Poonawalla Fincorp at Rs 291.50.