Domestic markets took a temporary breather on Friday after
hitting a new record high earlier in the day, supported by
positive cues from global markets.
The capital goods and industrial sectors showed notable
strength thanks to progress in manufacturing and services.
As earnings season comes to a close, markets are eagerly
awaiting new catalysts, while also taking advantage of the wave
of pre-election momentum.
Concerns now remain about rising crude oil prices, rising US
bond yields and stretched valuations, which could prompt
further selling by foreign institutional investors (FIIs).
Therefore, the possibility of small gains along with consolidation
in the coming week cannot be ruled out, with support expected
at 21,900, coinciding with the 21-day exponential moving
average (EMA).
Conversely, in the event of a recovery, the index may try to
break above the key resistance zone at 22,500.
One stock that deserves your attention on your watchlist next
week is GE Power India Ltd.
On Friday, the stock closed with a marginal gain of 0.
03 per cent at Rs 293.
45, representing deliveries of 2,21,358 shares, representing a
39.
78 per cent deliverable to volume ratio.
transaction.
The Company informed that it has received an order from Tata
Power Company Limited.
for services related to overhaul and other work related to
turbine generators, with a turnaround time of 55 days and a
base value of Rs 6.
75 crore.
Of note is the stock's impressive performance over the past
year, delivering multiple returns with a staggering 153%
increase in share price.
Disclaimer: This article is for informational purposes only and
does not constitute investment advice.
turbine generators, with a turnaround time of 55 days and a
base value of Rs 6.
75 crore.
Of note is the stock's impressive performance over the past
year, delivering multiple returns with a staggering 153%
increase in share price.
Disclaimer: This article is for informational purposes only and
does not constitute investment advice.
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