Stocks to Watch: MMTC, Jupiter Wagons Among Picks Showing Bullish Momentum

The Indian stock market was closed on Thursday due to municipal elections in Maharashtra. Prior to that, markets had ended lower on Wednesday amid global uncertainties and profit-booking in IT and select banking stocks.

Market Recap
On Wednesday, the BSE Sensex fell 244.98 points (0.29%) to close at 83,382.71, while the NSE Nifty 50 dropped 66.70 points (0.26%) to end at 25,665.60. During intraday trade, the Sensex had slipped as much as 442.49 points to 83,185.20. Investor sentiment was influenced by continued foreign fund outflows and renewed uncertainties surrounding US tariffs.

Among Sensex constituents, Tata Consultancy Services, Asian Paints, Maruti Suzuki, Sun Pharma, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank, and Larsen & Toubro were the major losers. In contrast, Tata Steel, NTPC, Axis Bank, and UltraTech Cement witnessed gains.

Stocks Showing Strong Buying
Investors are showing strong interest in MMTC, Jupiter Wagons, MRPL, Union Bank of India, Chennai Petro, Hindustan Copper, and Vedanta, with several of these stocks crossing their 52-week highs. This indicates a bullish trend and potential upside in the near term.

Stocks Showing Weakness
Conversely, the MACD (Moving Average Convergence Divergence) indicator signals bearish trends in Tata Elxsi, V-Guard, Nippon Life AMC, Polycab India, Kalyan Jewellers, Go Digit General Insurance, and Hexaware Technologies, suggesting that these shares may experience downward pressure.

Investor Advisory
(Disclaimer: The above analysis reflects the views of individual analysts or brokerage firms, not Navbharat Times. Investors are advised to consult certified experts before making any investment decisions, as market conditions can change rapidly.)