To earn profit, you can bet on these stocks including IDBI Bank, signs of boom are visible


New Delhi: The domestic stock market was declining for the third consecutive day on Thursday. The BSE Sensex had lost 542 points. The market remained down due to weak trend in global markets and continued withdrawal of capital by foreign institutional investors. Market sentiment was weighed down by losses in stocks such as ICICI Bank and HDFC Bank. The thirty-share BSE Sensex closed at 65,240.68 points, down 542.10 points, or 0.82 percent. It had gone down to 819.7 points during trading. The National Stock Exchange’s Nifty also closed at 19,381.65 points, down 144.90 points, or 0.74 percent. Among Sensex stocks, Titan was down over two per cent. Apart from this, Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major losers.

On the other hand, Infosys, JSW Steel, NTPC and PowerGrid were among the gainers. In other Asian markets, Kospi of South Korea, Nikkei of Japan and Hangseng of Hong Kong were in loss while China’s Shanghai Composite was in profit. European markets were in losses in early trade. The US market was in losses on Wednesday after Fitch Ratings downgraded the credit rating of the US government.

Foreign institutional investors sold shares worth Rs 1,877.84 crore on Wednesday, according to stock market data. Global oil benchmark Brent crude was down 0.46 per cent at $82.82 per barrel. On Wednesday, the BSE Sensex closed at 65,782.78, down 676.53 points, or 1.02 percent, and the Nifty closed at 19,526.55, down 207 points, or 1.05 percent.

Top Loser Stock: Even after the announcement of giving free shares, the stocks of this company are falling, selling fast

There is a boom in these stocks

Momentum indicator moving average convergence divergence (MACD) is showing a bullish trend on Laurus Labs, Balaji Amines, Shoppers Stop, Indian Hotels and Meghmani Finechem. MACD is known to signal trend reversals in traded securities or indices. When the MACD crosses the signal line, it indicates a bullish trend. This indicates that an upward movement can be seen in the share price. Similarly, it also indicates recession.

Signs of recession in these stocks

The MACD signals bearish on Triveni Engineering, CE Infosystems, KEC International, CSB Bank and Shyam Metalics. This means that now these stocks have started to decline.

Foreign investors buying heavily in the Indian market, have made a bumper investment of Rs 45,365 crore so far in July

Buying visible in these stocks

The stocks which are seeing strong buying include IRFC, Indiabulls Housing, FDC, Poonawalla Fincorp and IDBI Bank. The stock has crossed its 52-week high. This indicates an uptrend in the stock.

There is selling pressure in these stocks

The stocks which are seeing selling pressure include UPL and VIP Industries. There is a lot of selling in these stocks. These stocks have registered a 52-week low. This is a bearish signal for these stocks.

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