Share Market Update: Over the past week, banking and financial stocks rose sharply in the market. Main indices closed nearly 2 percent higher on Friday. Talking about the entire week, the Nifty gained about 3.4 percent. Even today the market is expected to boom. In such a situation, you can earn a bumper profit by investing in select stocks.
These stocks can be seen rising
Today, several stocks, including Adani Total Gas, Motilal Oswal, Shriram City Union, may see a spurt. You can earn good profits by investing in these stocks. Apart from these, you also need to monitor the shares of Bandhan Bank, Cholamandalam Investment, Religare Enterprises, Infosys, and Kotak Mahindra Bank. Moving Average Convergence Divergence (MACD) is showing signs of acceleration in these Share Market.
Signs of weakness in these stocks
MACD is also showing signs of softening in many stocks. These include GAIL, Tata Steel BSL, Dwarikesh Sugar, Sun Pharma, Marico, Mangalam Drugs, and GSK Pharma. You will be fine to stay away from these stocks. Apart from these, DSJ Communications, Kirti Knowledge and Skills, and Moksha Arunments may also fall.
Foreign investors continue to sell
Foreign investors have withdrawn Rs 4,444 crore from Indian markets so far in May, worrying about the second wave of the covid-19 pandemic and its impact on the Indian economy. According to the depository data, Foreign Portfolio Investors (FPIs) pulled out Rs 6,370 crore from the stock market during May 1 to 21, while bonds raised Rs 1,926 crore. Thus, FPIs netted Rs 4,444 crore. Experts say that the pressure on the domestic market may come as foreign investors continue to sell.
Market sentiment strong
The Share Market has breathed a sigh of relief in Kovid’s affairs. This makes the market sentiment stronger. It had a big hand in the boom that came last week. Experts say that states may take steps to remove the lockdown if the continuation of the decrease in corona cases continues. This is expected to resume economic activities. This will be good news for the market.