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Stock Market: HDFC, Coal India Shine, Watch Out For HUL, Asian Paints, L&T Today
The stock market continued to ‘go green’ even on Wednesday. Experts say that the trend may continue even today, making investors happy
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The stock market closed with gains for the second consecutive day on Wednesday. Experts contribute this jump to the investment of foreign institutional investors in the market. The BSE Sensex rose 0.64 percent to close at 61,045.74 points and the NSE Nifty closed at 18,165.35 points with a gain of 112.05 points. Today i.e. on Thursday also the market is expected to remain strong.
Signs Of Boom In These Stocks
The Momentum Indicator Moving Average Convergence Divergence (MACD) has shown a bullish trend in HDFC, Coal India, MTNL, Dhani Services and JSW Steel today.
HDFC Bank stock is trading at Rs 1,637.15. On Wednesday, it recorded a gain of 1.76 per cent. It has given a return of 2.81% in the last 5 days and 21.45% in 6 months. The stock is just Rs 100 away from its 52-week high.
The Big Jumps
Coal India shares closed at Rs 216.90 on Wednesday, up nearly 2 per cent. It has been on the rise for the last 5 days and it is likely to continue the same trend today. It has given a return of 9.41% to its investors in six months. Its 52-week high is Rs 263.40. It may be noted that the government on Wednesday said that it has set a coal production target of more than one billion tonnes (BT) for the next financial year. Of the said target, state-owned CIL has been given the task to produce 780 MT of coal.
The stock of Mahanagar Telephone Nigam Ltd (MTNL) also registered an increase. This share, which is available at a price of Rs 27.35, jumped 8.32% on Wednesday.
Chances Of Profit From These Stocks
Dhani Services Ltd also recorded a strong gain of 7.58% on Wednesday. The stock of the company, established in 1995, is trading at Rs 39.05.
Let’s look at JSW Steel now. The stock closed at Rs 767.55 on Wednesday and has given a return of 1.70% in the last 5 days. MACD has given bullish signals in all these stocks today, which means there is still an opportunity to earn profit.
Keep An Eye On These
Today i.e. on 19 January, a number of companies will be releasing their quarterly earning results. These include Hindustan Unilever, Asian Paints, AU Small Finance Bank, Can Fin Homes, L&T Technology Services, Happiest Minds Technologies, Havells India, Hindustan Zinc, Anant Raj, IIFL Wealth Management, IndiaMART InterMESH, ICICI Securities, Mphasis, Polycab India, PVR, and Sterling and Wilson Renewable Energy. The effect of their results is sure to make an impact on their market positions so one should keep a watch on these.