Domestic equity markets remained under pressure on Monday as both benchmark indices closed in the red. The Bombay Stock Exchange (BSE) Sensex fell 331.21 points to settle at 84,900.71, while the National Stock Exchange (NSE) Nifty slipped 108.65 points to close at 25,959.50, dropping below the 26,000 mark. The weakness came on the back of cautious investor sentiment and absence of strong market triggers.
Market Recap: Second Consecutive Day of Decline
The BSE Sensex, after losing early gains, ended the session with a 0.39% fall. During intra-day trade, it had dropped as much as 521.81 points. The Nifty 50 also declined by 0.42%, signaling broad-based weakness across sectors.
Key stocks that dragged the market included Bharat Electronics, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Bajaj Finserv, and Tata Motors Passenger Vehicles.
However, the session also saw pockets of strength, with Tech Mahindra, Asian Paints, Infosys, Adani Ports, Sun Pharma, and HDFC Bank closing in the green.
Stocks Showing Strong Buying Interest
Several stocks are witnessing strong buying momentum and have even crossed their 52-week highs, indicating bullish sentiment. These include:
- Asahi India Glass
- Mahindra Finance
- PTC Industries
- Eicher Motors
- Federal Bank
- AU Small Finance Bank (AU SFB)
- Shriram Finance
Crossing the 52-week high is often considered a strong technical indicator of potential further upside.
Stocks Showing Bearish Signals
On the downside, the MACD (Moving Average Convergence Divergence) indicator has flashed bearish signals for several stocks, suggesting that downward movement may continue. These stocks include:
- Reliance Infra
- Advent Hotels
- Chambal Fertilisers
- Deepak Nitrite
- Tejas Networks
- Suven Pharma
- Brigade Enterprises
A negative MACD crossover typically signals weakening momentum and potential short-term correction.
Disclaimer
The stock recommendations and technical views mentioned above belong to individual analysts or broking firms, not Navbharat Times. Market conditions can change rapidly. Investors are strongly advised to consult certified financial experts before making any investment decisions.
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