Market Movers: Why BPCL plunged; 75 stocks send sell signals
SECTIONS
Share
Synopsis
Over 270 stocks hit 52-week highs on Tuesday. Adani Power, BHEL, IRCTC, Mindtree, NMDC, UPL, SBI Life Insurance, HDFC Life Insurance, Grasim Industries, Trent and AU Small Finance Bank were among the top names.
Shutterstock.com
Nearly 75 stocks flashed ‘sell’ signals on Tuesday as their prices fell below the MACD signal line. SAIL, Trident, Himadri Speciality, Tata Steel BSL, IDFC, Rail Industries, Concor and Mangalore Chemicals were among them.
Related
NSE
Explore Now
NEW DELHI: Traders and investors shrugged worries over yields and crude oil prices and bought defensive stocks in heaps pushing benchmark equity indices higher on Tuesday.
The domestic equity benchmarks firmed up once again in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 269.36 points or 0.53% to 50,674.68. The Nifty 50 index rose 89.55 points or 0.60% to 15,027.65.
The broader market was trading higher. The S&P BSE Mid-Cap index advanced 0.48%. The S&P BSE Small-Cap index gained 1.03%.
Buyers outnumbered sellers. On the BSE, 1782 shares rose and 1258 shares fell. A total of 218 shares were unchanged.
Numbers to Track:
In the commodities market, Brent crude for May 2021 settlement rose 49 cents to $69.85 a barrel. The contract gained 3.92% or $2.62 to settle at $69.36 a barrel in the previous session.
Key equity barometers turned range bound in early afternoon trade. The Nifty continued to hold its crucial 15,000 mark. PSU banks, metals and pharma stocks were in demand.
At 12:20 IST, the barometer index, the S&P BSE Sensex, advanced 219.15 points or 0.43% at 50,624.47. The Nifty 50 index rallied 80.15 points or 0.54% at 15,018.25.
In the broader market, the S&P BSE Mid-Cap index rose 0.76% while the S&P BSE Small-Cap index added 1.04%.
The market breadth was strong. On the BSE, 1,806 shares rose and 1,100 shares fell. A total of 208 shares were unchanged.
Gains were capped as the Brent crude futures surged above $70 a barrel on Monday, following reports of attacks on Saudi Arabian facilities. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation..
Domestic equity benchmarks declined for second trading session on Friday. Resurgent worries about rising US bond yields hit global stocks. Firm crude oil prices also spooked investors. Higher crude oil prices could increase fiscal deficit, current account deficit and stoke fuel price inflation. The Nifty closed below the crucial 15,000 mark.
The S&P BSE Sensex, tumbled 440.76 points or 0.87% at 50,405.32. The Nifty 50 index slumped 142.65 points or 0.95% at 14,938.60. Both these indices have fallen a little over 2% each in two consecutive sessions.
ICICI Bank (down 1.80%), HDFC (down 1.55%), HDFC Bank (down 1.52%) and Infosys (down 1.07%) were major drags today.
Selling was broad based. The S&P BSE Mid-Cap index fell 1.89% and the S&P BSE Small-Cap index tumbled 1.50%. Both these indices saw profit taking after rallying over 5% in the past four days.