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Thursday At Market: PNB, Exide, BHEL Witness Upward Trend

Tuesday’s twist continued on Wednesday too, and both BSE and NSE saw a decline. Nifty is expected to gain strength today, but do watch carefully before putting in your money

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Midweek crisis hit the Indian stock markets and both BSE and NSE closed on the red mark for second consecutive day on Wednesday. BSE Sensex closed on 61,560.64 following a fall of 371.83 points, while the NSE Nifty was down by 104.75 points and closed at 18,181.75. The markets are expected to remain fluctuating even on Thursday. 

The Big Gainers 

Let us have a look at the big gainers on Monday. These included Kaynes Technology, Amber Enterprises, Globus Spirits and IIFL Finance

Kaynes Technology jumped by 15.07 per cent and is trading at Rs 1,149.50. In the last five days, it has gained 16.75 per cent. Amber Enterprises was up by 14.40 per cent and is available at Rs 2,153.15. In the last one month, it has jumped 15.98 per cent.  

Globus Spirits gained 10.25 per cent and is trading at Rs 972. In the last five days, it has jumped by 12.94 per cent. IIFL Finance jumped 6.63 per cent and is trading at Rs 469. The 52 week high of this stock is Rs 538. 

Bullish Trend In These Stocks

The momentum indicator MACD has revealed some active stocks which are bullish at the moment. These include Suzlon Energy, Punjab National Bank, Exide Industries, and Bharat Heavy Electricals.

Suzlon Energy has gained 7.32 per cent and is available at Rs 8.80, while Punjab National Bank is up by 0.41 per cent and is trading at Rs 49.20. 

Exide Industries is trading at Rs 205.40 following a jump of 5.47 per cent. Bharat Heavy Electricals gained 0.80 per cent and is trading at Rs 82.25.

Expert Speak 

Prashanth Tapse, Senior VP (Research), Mehta Equities

Domestic markets are likely to edge higher in early trades Thursday, buoyed by firm global cues after US President Biden expressed confidence in achieving a debt-ceiling deal. The silver lining from yesterday’s weak stock market was that FIIs remained as net buyers on Dalal Street, and have bought shares worth Rs 16,520 crore in the current month so far. Technically, Nifty may gain strength only above the 18473 mark, while support is seen at 18079 level.

(All views expressed by experts are personal. Investments are subject to market risks and this article suggests you to invest wisely)