Stock Market Update: Dalal Street witnessed a bullish trend last Friday, with both benchmark indices closing higher. The BSE Sensex, comprising 30 stocks, gained 316.57 points to settle at 82,814.71, while the NSE Nifty rose 116.90 points to close at 25,571.25.
Stocks to Watch on 23 February:
The market saw renewed optimism on Friday, supported by buying activity in banking and metal stocks, progress in trade agreements, and reports of India’s participation in Pax Silica. The Sensex surged during intraday trade to a high of 83,132.08 before closing at 82,814.71, up 0.38%. Similarly, the Nifty touched a peak of 25,663.55 points before ending the day at 25,571.25, marking a 0.46% gain.
Among Sensex constituents, NTPC, Larsen & Toubro, Hindustan Unilever, PowerGrid, Tata Steel, Kotak Mahindra Bank, Bharat Electronics Limited, Bajaj Finance, Titan, Maruti Suzuki India, Axis Bank, and IndiGo recorded the highest gains. On the other hand, Tech Mahindra, Infosys, Eternal, HCL Technologies, Bharti Airtel, HDFC Bank, Mahindra & Mahindra, and Adani Ports ended in the red.
Stocks Showing Strong Buying:
Investors are showing robust interest in Hindalco Industries, Novartis India, GMDC, VL E-Governance & IT Solutions, KRN Heat Exchanger & Refrigeration, Centum Electronics, and Control Print. These stocks have surpassed their 52-week highs, indicating bullish momentum.
Stocks Showing Bearish Signals:
On the downside, MACD (Moving Average Convergence Divergence) has signaled weakness in Eternal, Infosys, Tech Mahindra, Newgen Software Technologies, Godfrey Phillips, Vikram Solar, Transworld Shipping Lines, and Power & Instrumentation. These stocks are showing early signs of a potential downward trend.
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