Here is how analysts read the market pulse:
In commentary on the action of the day, Ajit Mishra, senior vice president – research at Religare Broking said that the markets ended flat, after they were strongly oscillated on both sides before they settled with small spending cuts. He believes that the over-sold positions can now lead to some consolidation in Nifty, with strong support around 24,400-24,500 zone and resistance placed on 24,800-25,000. His advice to market participants is to concentrate on selective stock opportunities that are tailored to sectoral trends, while the position sizes are kept under control.
American markets
The S&P 500 and the Nasdaq indexes rose on Monday and came back from last week’s decreases, while investors took the fear of a threatening closure of the government and ragged remarks from a federal reserve officer.
The increase underlines a strong risk-on sentiment among investors, whose expectations of a Dovish-Fed shares have helped in supporting elevated valuations, even in the midst of persistent inflation problems and uncertainties of the labor market.
European markets
European shares ended a little higher on Monday because the profit in health care and luxury shares compensates for the weakness with banks and energy, while investors assessed the possibility of an US government closing that could delay the release of important economic data. The Pan-European Stoxx 600 closed 0.2% higher, from a flat finish of the last week. UCB shares reached a record high after the American rival Moonlake immunotheraputics has released mixed data for his skin disease medicine.
Tech View
The decoding of the graphs, Markt expert Nilesh Jain, head and derivative examination analyst at Centrum Broking said that Nifty has formed a candlestick with many waves, suggesting that a potential break in the running downtrend, although the index continues to be under all important moving crime.
“With the monthly F&O decay date, we expect a continuous volatility in the markets. Although a withdrawal is possible, a decisive movement above the 24,800 level is crucial to activate a short-covering rally to the 25,000 Mark. On the other hand, immediate support is seen at 24,500, followed by 24,500,” Jain.
Most active shares in terms of turnover
Infosys (RS 245 CRORE), National Securities Depositories Limited (NSDL, RS 118 CRORE), Netweb Technologies (RS 105 CRORE), Sammaan Capital (RS 104 CRORE), Bharat Forge (RS 101 CRORE), TATA POSTMORATION (RS POPMORATION), ADANI POSTMORATION), AdanPestment Corporation) Raj (RS 77 Crore) were one of the most active shares on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trade turnover on the day.
Most active shares in volume terms
Vodafone Idea (traded shares: 5.75 crore), PC Jeweler (traded shares: 69.63 Lakh), Sammaan Capital (traded shares: 68.96 Lakh), Suzlon (traded shares: 63.33 lakh), Adani Power (traded shares: SPECTLED STADELLE: Attary: 54.68 Lakh) and SpiceJet (traded shares: 35.89 LAKH) were among the most actively traded shares in volumeweren on BSE.
Shares with buying interest
One Mobikwik systems, Shree Renuka Sugars, Raymond Lifestyle, MRF, ITI, JK Tyre, Alok Industries and CEAT belonged to the shares that witnessed a strong purchase interest rate of market participants.
Also read: Gainers & Losers: Wockhardt, Firstsource Solutions between 6 top movers on Monday. This is why
52 weeks high
More than 140 shares were their 52 weeks high today, while 166 shares slid to their lows of 52 weeks. Among those who reached their 52 weeks of highs, APLAB, Apollo Micro Systems, BGR Energy Systems, Bosch and Bizotic Commercial were.
Atlanta Electrics, Autoriders International, Banco Products (India), Bharat Gears
Shares that see sales pressure
Under the names of the Great Cap, Dr. Reddy’s Laboratories and Mahindra & Mahindra (M&M). Other shares that witnessed considerable sales pressure were Atlanta Electrics, Autoriders International, Banco Products (India), Bharat Gears, Bizotic Commercial, Colab Platforms, Indian Bank and Indo Thai Securities.
Sentiment meter favors bears
Action in heavyweights such as Icici Bank, Axis Bank and Larsen & Toubro (L&T) have dragged the markets the most and ensured a negative closure. The width also remained negative in wider markets. Of the 4,377 shares that were traded on the BSE on September 29, Monday, 1,822 shares witnessed the advances, 2,389 saw decreases while 166 shares remained unchanged.
(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
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