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Wednesday Market Update: Indian New Year Brings Cheer, Reliance Industries, PVR, Muthoot Cap See Gain
Tuesday became an auspicious day for the market as BSE and NSE closed on green. With the Indian New Year starting from today, experts are hoping for better days
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The festive spirit seems to be gripping the stock market now, as Tuesday saw the market climbing to close on the green mark. The National Stock Exchange’s Nifty was up by 119.10 points at 17,107.50 and the Bombay Stock Exchange’s Sensex was up by 445.73 points at 58,074.68. As the Indian new year begins today, experts are expecting better days ahead.
Big Gainers
As the market opens for trade on Tuesday, here is a look at the shares that became the big gainers for the day. Film production and record label company Tips Films saw an impressive gain of 19.99 per cent in its stocks and traded at Rs 441.70. It has jumped by 17.58 per cent in the last 5 days.
Muthoot Capital Services was also up by 4.21 per cent and is available at Rs 272. This share has been lying low for a while and is fluctuating.
Reliance Industries jumped by 3.21 per cent and is trading at Rs 2,272. Its 52 week high is Rs 2,856.15. Grasim Industries was up by 0.89 per cent and is trading at Rs 1,607. In the last five days, this has given 2.41 per cent returns.
The shares of entertainment company PVR saw a gain of 1.55 per cent and are available at Rs 1,570. It has gained by 0.96 per cent in the last five days.
Bullish Stocks For The Day
As per the momentum indicator MACD, there are some stocks that are showing bullish signals and can be checked for investing. These include AU Small Finance Bank, Swan Energy, IDFC First Bank, Ambuja Cements and Axis Bank.
AU Small Finance Bank saw a gain of 0.50 per cent and is trading at Rs 580. Swan Energy jumped by 1.49 per cent and is available at 227.75. IDFC First Bank saw a gain of 2.67 per cent to be available at Rs 55.75, while Ambuja Cements gained by 1.31 per cent and is trading at Rs 370.20. As for Axis Bank, it gained by 2.04 per cent and is trading at Rs 854.65.
Expert Speak
Prashanth Tapse, Senior VP (Research), Mehta Equities
“Markets rebounded as the street cheered positive global cues on the back of constructive global banking sector development. While the market is eyeing the Fed meeting on interest rate, risk flow too is seen returning. Nifty bulls will aim to hunt for another positive session after rebound witnessed from lower levels, with confirmation of strength only above the 200-DMA at 17456 mark.”