. Defence stocks are likely to stay in the spotlight, supported by positive sentiment and expectations of continued policy backing. Despite the profit booking, sustained
FII inflows, underpinned by favorable macroeconomic conditions, are expected to uphold overall market optimism," said Nair.
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5 Wall Street moguls who dismissed Bitcoin as a fad — Guess what they’re saying now!Wall Street stocks fell early on Monday before climbing back after Moody's slashed the United States' credit rating as markets awaited further action on President Donald Trump's sweeping tax cut measure.
Monday's session was the first since Moody's late Friday announced the downgrade, citing rising levels of US government debt and interest payment ratios "to levels that are significantly higher than similarly rated sovereigns."
Markets are closely watching Congress, where the full House is expected to vote this week on Trump's fiscal legislation, which pairs tax reductions with cuts to health coverage for low-income Americans.
Technically, the Nifty appears to be in a consolidation phase, which may continue for the next few days, said Rupak De, Senior Technical Analyst at LKP Securities, adding that “the Nifty closed below the 25,000 mark after two days of holding above it. The index may remain under pressure unless it reclaims the 25,000 level.”
“On the downside, the Nifty could drift toward the 24,800–24,750 zone. A deeper correction may be likely if it breaks below 24,750. Conversely, a move above 25,000 could trigger a rally toward the 25,250–25,350 range," said De.
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Cochin Shipyard (Rs 4,064 crore),
Mazagon Dock Shipbuilders (Rs 2,912 crore),
Hindustan Aeronautics Ltd (Rs 2,428 crore), GRSE (Rs 2,401 crore), BEL (Rs 1,910 crore),
Divis Labs (Rs 1,784 crore) and BSE (Rs 1,672 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Vodafone Idea (Traded shares: 171.22 crore),
YES Bank (Traded shares: 14.65 crore), IRFC (Traded shares: 5.62 crore), Suzlon Energy (Traded shares: 5.33 crore), Reliance Power (Traded shares: 5.29 crore), BEL (Traded shares: 5,20 crore) and UCO Bank (Traded shares: 5.12 crore) were among the most actively traded stocks in volume terms on NSE.
Shares of Graphite India, Alembic Pharma, Delhivery, HEG, Caplin Point,Usha Martin and BASF India were among the stocks that witnessed strong buying interest from market participants.
Over 118 stocks hit their 52 week highs today while 35 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included
ICICI Bank.Stocks which witnessed significant selling pressure were Vodafone Idea, CreditAccess Grameen, Apar Industries, GMR Infra, Godfrey Philips, Inventurus Knowledge and Policy Bazaar.
The market sentiments were bullish. Out of the 4,273 stocks that traded on the BSE on Monday, 1,616 stocks witnessed declines, 2,492 saw advances, while 165 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
