Dalal Street ended lower for the third consecutive session on Wednesday, as selling pressure in consumer durable, private banking, and IT stocks weighed on indices. The BSE Sensex slipped 275.01 points to close at 84,391.27, marking its lowest level since 11 November. During the day, the benchmark touched an intraday high of 85,020.34 and a low of 84,313.62.
Similarly, the NSE Nifty fell 81.65 points to settle at 25,758, dragged down by heavy selling in the final hour of trade.
Top Losers and Gainers
Several frontline stocks ended in the red. Major laggards included:
- Eternal, Trent, Bharti Airtel, Infosys, Tech Mahindra
- UltraTech Cement, ICICI Bank, HDFC Bank
- Bajaj Finance, Tata Consultancy Services, BEL, Larsen & Toubro
- Tata Motors Passenger Vehicles
However, select heavyweight counters provided some cushion to the market. Notable gainers were:
- Tata Steel, Sun Pharmaceutical, ITC, NTPC
- Reliance Industries, HCL Technologies, Power Grid, Asian Paints
Stocks Showing Strong Buying Interest
Several stocks have broken past their 52-week highs, signalling bullish momentum and potential upside. These include:
- Balrampur Chini
- Welspun India
- Hindustan Zinc
- Navin Fluorine
- Century Ply
- Lloyds Metals
- EID Parry
Analysts say that crossing their yearly peaks indicates strong accumulation and positive sentiment.
Stocks Showing Weakness
The MACD indicator has turned negative on several counters, suggesting potential downside ahead. Stocks showing bearish signals include:
- Kaynes Technology
- Dixon Technologies
- Latent View Analytics
- Eris Lifesciences
- BSE Ltd.
- Triveni Engineering & Industries
- MCX India
According to technical analysts, these stocks may witness further declines in the short term.
Disclaimer
The views and recommendations mentioned in this analysis belong to individual analysts and brokerage firms and not NBT. Investors are strongly advised to consult certified financial experts before making any investment decisions, as market conditions can change rapidly.
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