New Delhi: Indian equity markets continued to decline for the third consecutive session on Wednesday, as sustained selling in consumer durables, private banks and IT stocks dragged benchmarks lower. The BSE Sensex slipped 275.01 points (0.32%) to close at 84,391.27, marking its lowest level since November 11. During the session, it touched a high of 85,020.34 and a low of 84,313.62.
Similarly, the NSE Nifty ended the day 81.65 points (0.32%) lower at 25,758, weighed down by last-hour selling pressure.
Market Movers
Among Sensex constituents, stocks such as Eternal, Trent, Bharti Airtel, Infosys, Tech Mahindra, UltraTech Cement, ICICI Bank, HDFC Bank, Bajaj Finance, Tata Consultancy Services, BEL, L&T and Tata Motors PV witnessed declines.
However, Tata Steel, Sun Pharma, ITC, NTPC, Reliance Industries, HCL Technologies, Power Grid and Asian Paints ended with gains.
Stocks Showing Bullish Momentum
Strong buying interest is visible in several stocks, many of which have crossed their 52-week highs, signaling bullish bias. These include:
- Balrampur Chini
- Welspun India
- Hindustan Zinc
- Navin Fluorine
- Century Ply
- Lloyds Metals
- EID Parry
Crossing a yearly high typically indicates strong momentum and continued investor confidence.
Stocks Triggering Bearish Signals
The MACD indicator has shown bearish trends in the following stocks, signaling that downward movement may begin:
- Kaynes Technology
- Dixon Technologies
- Latent View Analytics
- Eris Lifesciences
- BSE Ltd
- Triveni Engineering & Industries
- MCX India
A bearish MACD crossover generally indicates weakening momentum and potential decline.
Disclaimer:
The stock suggestions and technical signals mentioned above are based on inputs from individual analysts and brokerage firms, not Navbharat Times. Investors are strongly advised to consult certified financial experts before making investment decisions, as stock market conditions can change rapidly.