Today, the Nifty50 once again reached a new all-time high of 21,026.1 before closing at 20,997.1, up by 27.7 points or 0.13% compared to the previous close. The market exhibited a bullish trend, experiencing a slight struggle between bulls and bears, resulting in a Doji-like candle formation with wicks on both sides.
Among the top gainers were Ultratech Cement, UPL, Adani Enterprises, Nestle India, and PowerGrid. On the flip side, the top losers included Dr Reddy’s, Axis Bank, Cipla, Eicher Motors, and Mahindra and Mahindra.
The Sensex saw an increase of 102.9 points, closing at 69,928.5 after surpassing the 70,000 level. Among all sectoral indices Nifty Pharma and Nifty Healthcare saw a selloff today
In the broader market indices, the Nifty Midcap 100 and Nifty Smallcap 100 both outperformed the Nifty50 benchmark, closing up by 0.74% and 0.84%, respectively.
Advanced Enzyme Technologies Limited operates in the enzyme manufacturing and sales sector. As the foremost Indian enzyme company, it holds the second-highest market share in the country and is the second globally listed integrated enzyme player. The stock reached its 52-week high at Rs 372.5 today, signalling robust bullish momentum. It’s advisable to include this stock in your watchlist.
Steelcast Limited (SCL) operates in the manufacturing of Steel and Alloy Steel Castings, serving Original Equipment Manufacturers (OEMs) across various industrial sectors. Today, the stock recorded a notable increase of 5.78% in closing price and experienced a substantial surge in trading volume, exceeding 23 times its weekly average. It is advisable to consider adding this stock to your watchlist.
Today, shares of KPI Green Energy Ltd experienced a lock in the upper circuit and reached a new 52-week high at Rs 1261.90, marking a 10% increase from the previous close. This surge indicates strong buying pressure in the market. KPI Green Energy Ltd is engaged in the solar power generation business, serving as both an Independent Power Producer (IPP) and offering Engineering, Procurement, and Construction (EPC) services to Captive Power Producers (CPP).
Capri Global is a diversified Non-Banking Financial Company (NBFC) operating in various segments such as MSME, Construction Finance, Affordable Housing, and Indirect Retail Lending. Today, the company announced that it has obtained a Corporate Agency license from the Insurance Regulatory and Development Authority of India (IRDAI) to establish an insurance business. Anticipated projections indicate a net Insurance Income of approximately Rs. 20 Crore in the fiscal year 2024-25. This expansion is expected to result in an approximate annual increase in variable costs ranging between Rs. 2-3 Crore.
Sandur Manganese & Iron Ores (SMIORE) engages in the mining of low-phosphorous manganese and iron ore in the Hospet-Ballari region of Karnataka. The stock reached a new 52-week high at Rs 2264.70, demonstrating a noteworthy performance. With a remarkable return of over 35% within three trading sessions, this indicates a strong bullish momentum. Consider adding this stock to your watchlist for potential investment opportunities.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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