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Monday At Share Market: Adani Group Stocks Show Steady Growth, Keep An Eye On Campus Activewear, IRB Infra

Last trading week saw the market closing on the red mark. Experts say that the market may open firm on Monday but keep an eye before investing

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Last trading week did not end on a good note for the share market. Both Bombay Stock Exchange and National Stock Exchange closed on the red on Friday. The BSE Sensex was down by 398.18 points and closed at 57,527.10, while the NSE Nifty was down by 131.85 points and closed at 16,945.05. Market analysts say that these fluctuations may be there even today. 

The Big Gainers

Let us have a look at some of the big gainers on Friday that are expected to open big on Monday as well. 

Butterfly Gandhimathi Appliances was one of the top stocks for the day. With a jump of 6.55 per cent, it is trading at Rs 1,279. In the last five days, it has gained by 5.18 per cent. 

Foseco India was up by 5.54 per cent on Friday and is trading at Rs 2,550. Its 52 week high is Rs 2,599.90 and in the last one month it has gained by 27.55 per cent. 

Adani Transmission jumped by 4.20 per cent and is available at Rs 1,129.90. The shares of Adani Group are back in action and steadily rising. In the last 5 days, this one has jumped by 12.81 per cent. 

Adani Green Energy too saw a gain of 5 per cent and is trading at Rs 1,031.45. It has gained by 23.92 per cent in the last 5 days. 

Bullish Signs In These Stocks 

According to the momentum indicator MACD, there are some stocks that are showing bullish signals. These include Campus Activewear, IRB Infra, Tata Power and ITC. These stocks closed on the red mark on Friday but have shown a steady growth recently. 

Campus Activewear is available at Rs 338. IRB Infra is available Rs 24.35. Tata Power is available at Rs 192.90, while ITC is limited Rs 378.90. 

Expert Speak 

Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

Markets may see a firm opening in Monday trades on the back of buoyancy in SGX Nifty after US markets closed higher on Friday. Benchmark Nifty is likely to regain the psychological level of 17000, but intra-day gyration could be seen as traders would be wary of weakness in other Asian indices amid concerns over global financial health. Investors would be closely watching another big European financial giant Deutsche Bank, which tumbled 3.11% in Friday’s trade after the bank announced the redemption of $1.5 billion in a set of tier 2 notes due in 2028, and its credit default swaps surged to the highest level since their first introduction in 2019. On the domestic front, the street suspects corporate India’s earnings could come under heavy pressure from inflation, economic downturn, and soaring interest rates. Technically, Nifty has a make-or-break support at 16827 mark, while any strength could be seen above the 17465 mark.