Keep an eye on the shares of South Indian Bank, Laurus Lab and MOIL today
Which stocks will remain volatile
According to the momentum indicator MACD, shares of Kotak Bank, NCC, Canara Bank, Arvind and IndiGo’s parent company Interglobe Aviation may gain momentum on Thursday. On the other hand, the shares of Coal India (Coal India), Axis Bank (Axis Bank), Reliance Industries (RIL), NTPC (NTPC) and Adani Power (Adani Power) are expected to decline.
market conditions
The rally in the domestic stock markets for the last four trading sessions came to an end on Wednesday and the BSE Sensex closed down by about 347 points. The market declined due to profit-booking in bank, petroleum and metal stocks amid a weak trend in global markets. The 30-share Sensex closed at 62,622.24, down 346.89 points, or 0.55 per cent. At one point during the trading, it had gone down by 568.11 points. The National Stock Exchange’s Nifty also closed at 18,534.40, down 99.45 points, or 0.53 percent. Earlier, the Sensex had gained 1,195 points and the Nifty 348 points in a four-day rally till Tuesday.
Axis Bank, State Bank of India, Reliance Industries, HDFC, HDFC Bank, NTPC, Tata Steel and UltraTech Cement were major losers in the Sensex pack. On the other hand, Bharti Airtel, Tech Mahindra, Asian Paints, Sun Pharma, Tata Motors and Kotak Mahindra Bank were among the gainers. South Korea’s Cospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hangseng were among the losers in other Asian markets. Major markets in Europe were in a negative trend in early trade. A mixed trend was seen in the US markets on Tuesday.