Buying was seen in realty, utilities, metal, power and capital goods on Tuesday while selling was seen in telecom, FMCG and healthcare. Stocks that were in focus on Tuesday include names like Finolex Industries that gained over 7%; BEML that rose over 13% and Gujarat Pipavav Port that closed with gains of over 7%.
Stocks that were in focus include names like NLC India which rose more than 6%, Ircon International gained nearly 7% and Dr Reddys Laboratories closed with gains of over 3% to hit a fresh 52-week high on Wednesday.
The oil & gas, energy, public sector, and metals sectors performed well, while healthcare, capital goods, auto, and IT sectors experienced some selling pressure. Stocks like Suzlon, L&T Finance, and HPCL were in focus. Analyst Kumar Saurabh highlights that Suzlon and L&T Finance have potential for gains, but caution is needed due to their distance from key support levels. HPCL s good Q4 results and a rounding bottom base indicate swing trading opportunities.
The Indian market soared to a new all-time high, with the S&P BSE Sensex surpassing 64,000 and the Nifty50 reaching 19,011. Sectors such as capital goods, power, healthcare, auto, and oil & gas witnessed buying activity. Stocks like Tata Motors, BLS International, and JBM Auto gained significantly, hitting fresh 52-week highs. Analysts suggest that while Tata Motors may have experienced a base breakout, better opportunities may be found elsewhere due to the absence of significant earnings growth triggers.