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Thursday Stock Market: Coastal Corp, Eros International Rally On The Budget Day, Check Out PVR, HDFC, Tata Consumer Products Today

The budget day saw a highly volatile market, with the NSE witnessing a fall, while BSE closing at a gain. Even today, this momentum is expected to continue

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The market rallied on Wednesday as the Finance Minister started with her budget speech in the Parliament to present the Union Budget 2023-24. The ‘Middle class friendly’ budget made an impact on the markets as well and it remained volatile all day long. 

At the end of the trading day, NSE Nifty closed at 17,616.30, following a fall of 45.85 points. However, the BSE Sensex saw a gain of 158.18 points and closed at 59,708.08. 

Experts feel that this momentum will be seen even today. 

Big Gainers of The Day 

Coastal Corporation was one of the biggest gainers of the day. Closing at Rs 231.00, it saw a jump of 10.08 per cent and has given a return of 8.60 per cent in the last 5 days. However this is a very volatile stock. 

Eros International Media too featured in the Big list. Available at Rs 27.85, this stock gained by 4.90 per cent and has gained 9.86 per cent in the last 5 days. Ansal Properties and Infrastructure too saw a jump of 4.82 per cent to close Rs 13.05. 

Bullish Signs Here 

The Momentum Indicator Moving Average Convergence Divergence (MACD) has given bullish signals in three stocks today. These include Galaxy Surfactants, PVR Feb Futures and SRF. Shares of Mumbai-based chemical company Galaxy Surfactants closed at Rs 2,381.10, up 2.13 per cent on Wednesday. For the last few days, this stock has shown bullish signs.

SRF is also a chemical company and its shares also closed strongly on the budget day. At present, this share is available at a price of Rs 2,225 and has given a return of 5.50 per cent in the last 5 days. Experts believe that SRF shares can be bought at the level of Rs 2224. It can touch the target of 2300 soon.

Watch Out For the Adani Group Stocks 

The stocks of Adani group companies have been highly volatile since the last few days. The budget day saw a huge decline in the shares of the group’s companies. The stock of Adani Enterprises had closed with a gain on Tuesday, but fell by 26.70 per cent on Wednesday. Similarly, the stock of Adani Ports also fell by 17.73 per cent. Adani Power shares hit the lower circuit on Wednesday. The stock closed at Rs 212.75, down 4.98 per cent. Even today, softness can be seen in the shares of the company.

Q3 Results Expected Today 

The Quarter 3 results of these companies are expected to be out today. The results will affect their stock position too - 

HDFC, Tata Consumer Products, Titan Company, Aditya Birla Capital, Aegis Logistics, Apollo Tyres, Bajaj Electricals, Berger Paints India, Birlasoft, Cera Sanitaryware, Coromandel International, Crompton Greaves Consumer Electricals, Dabur India, Deepak Frtlsrs and Ptrchmcls Corp , Godrej Properties, Karnataka Bank, Max India, SIS, Ujjivan Small Finance Bank and Welspun Corp.