National S.E. sharply higher

The market rallied Friday, and Nifty 50 closed at 23907 points after an increase of 2.4 percent. The index has never gained more in one day since Jun 5, when it was up 3.4 percent. The week as a whole showed a gain of 1.6 percent.

922 shares showed a gain and 393 showed a loss. 11 shares were unchanged and closed at the same price as the previous day. There was no trading in 43 shares.

Total value of the trading volume for shares and primary capital certificates Friday was approximately 827.1 billion.

Reliance Industries Limited rose sharply to close at 1265 rupee, up 3.5 percent. We must go back to Jun 26 to find an equally strong rise. That time the stock gained 4.1 percent. Technically, however, it does not look good. The stock is trend wise negative in the medium term and a further decline is indicated.
Adani Green Energy Ltd. closed at 1052 rupee after posting a loss of 8.2 percent. The stock has now fallen for the fourth day in a row. Since the sell signal from the rectangle formation one month ago, the stock now has lost 38.8 percent. The volume was also very high. At session end it was bought and sold shares for about 23178 million rupee in the stock, which equals 21 times mean daily turnover.
Swan Energy Limited closed at 587 rupee after a solid gain of 11.1 percent. We must go back to Oct 27. 2023 to find an equally strong rise. That time the stock gained 12.2 percent. The stock has thereby closed up 12 out of the past 17 days. The volume was also high. At session end it was bought and sold shares for about 7077 million rupee in the stock, which equals three times mean daily turnover. Technically, however, it does not look good. The stock is trend wise negative in the medium term and a further decline is indicated.
Info Edge (India) Limited closed at 8000 rupee after a solid gain of 6.4 percent. The previous time the stock gained this much was Apr 8, when it closed up 9.7 percent. It was also high volume. Overall it was traded for 7896 millions rupee in the stock, which is four times as much as normal daily turnover. Technically it also looks good. The stock is trend wise positive in the medium term and a further increase is indicated.
Praj Industries Limited closed at 779 rupee after a solid gain of 15.4 percent. The previous time the stock gained this much was Nov 23. 2017, when it closed up 20.0 percent. The volume was also very high. At session end it was bought and sold shares for about 7349 million rupee in the stock, which equals 18 times mean daily turnover. Technically it also looks good. The stock is trend wise positive in the medium term and a further increase is indicated.

Winners Friday

Next Mediaworks Limited19.95%
Raymond Limited15.80%
Praj Industries Limited15.35%
Swan Energy Limited11.14%
Mindteck (India) Ltd.10.00%

Losers Friday

Adani Green Energy Ltd.-8.20%
Network18 Media & Investme-5.62%
INFOMEDIA PRESS LIMITED-5.06%
Kavveri Telecom Products L-5.02%
Reliance Home Finance Limi-5.00%

Most traded Friday

Adani Enterprises Limited46652.53
Adani Ports and Special Ec30790.20
Reliance Industries Limite25905.21
Adani Green Energy Ltd.23178.19
HDFC Bank Limited21622.41

Today's free analyses Indian Railway Finance Corporation Ltd.

 


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Investtech guarantees neither the entirety nor accuracy of the analyses. Any consequent exposure related to the advice / signals which emerge in the analyses is completely and entirely at the investors own expense and risk. Investtech is not responsible for any loss, either directly or indirectly, which arises as a result of the use of Investtechs analyses. Details of any arising conflicts of interest will always appear in the investment recommendations. Further information about Investtechs analyses can be found here disclaimer. The content provided by Investtech.com is NOT SEC or FSA regulated and is therefore not intended for US or UK consumers.

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