- by Stocktry Expert
- 05th Aug 2020
Volume spike of 100% seen in HDFC
On Tuesday, August 4th, there was the return of bulls in the market which pushed the benchmark indices above the crucial resistance level, as S&P BSE Sensex reclaimed 37000 whereas nifty 50 closed a shade below at 11, 100.
Taking a positive global hint and fierce index heavyweights, both Sensex and nifty surpassed the crucial resistance level.
The S&P BSE Sensex rose 748 points to close at 37,687 while the Nifty50 closed 203 points higher at 11,095.
Sector-wise performance:
The top sectors which gained in today; a market where agriculture, automobile and ancillary, aviation, banks, and capital goods while others followed the lead.
However, hospitality, industrial gases, and fuel, and the software and IT sector declined at a very high rate.
Stocks & Sectors
Sectorally, the S&P BSE Energy index rose 5.6 percent followed by the S&P BSE Finance index that was up 2 percent and the S&P BSE Realty index closed with gains of 2.01 percent.
A volume spike of more than 100 percent was seen in stocks like HDFC Bank, ZEE Entertainment, BPCL, Voltas and Exide Industries.
Long buildup was seen in stocks like Apollo Tyre, Voltas and MRF.
Short buildup was seen in stocks like Bandhan Bank, Shriram Transport, and MFSL.
Alkem Laboratories, Torrent Pharma, L&T Infotech and MCX India were among more than 100 stocks on the BSE hit a 52-week high.
The stock of the Day
- 1.Bandhan Bank
- The stock of Bandhan bank has reversed sharply from 200-days moving average and has faced a sharp correction to buy at current levels and decline at a lower level for higher-level targets of the next 360 levels.
- 2. Tata Motors
- The stocks of this company have broken out from it’s the narrow range and closed at 8 weeks high with strong volumes.
- 3.The top market givers at Nifty include Maruti Suzuki, HDFC Bank, and RIL. Whereas, t3h top losers included HCL Technologies, Indusland Bank, and Tech Mahindra.
Nifty Bank
Today, the Nifty Bank index closed at 1.99 percent higher at 21,490.50. The turning point that will act as the crucial support for the index, is placed at 21,173.43, followed by 20,856.37.20. On the upside, key resistance levels are placed at 22,691.93 and 21,893.37.
Stocks in News
- 1.HDFC Bank’s announcement of RBI’s nod for new CEO helped the stock gain 4 percent.
- 2.Reliance Industries surged 7 percent to post the biggest one-day gain in more than three months.
3.Auto stocks move higher on hopes of demand recovery and Maruti Suzuki up over 3 percent.
4.Varun Beverages up nearly 5 percent after earnings.
5.Godrej Consumer fell 1 percent after it reported Q1 domestic volume growth that was below estimates.
- 6.IT Stocks slipped after the US President Donald Trump signed executive order to prioritize American workers.
