Nifty climbs and closes past 26,000 for the first time. Sensex too ends above 85000 mark.

Review & Preview @4PM —— Wednesday, September 25th 2024

NIFTY (+64, 26004)
Sensex (+256, 85170)
Bank Nifty (+133, 54102)

Nifty climbs and closes past 26,000 for the first time. Sensex too closes above 85000 mark.

This achievement is a big psychological boost for the bulls and a testament for many ‘Indian Investors’, as suggests

1) Corporate India is in pretty good shape
2) Indian economy’s resilience.

# Buzzing stocks:

1) Piramal Pharma was in limelight, up 4.75% after the pharma company revealed its ambitious revenue goal by the financial year 2030 (FY30). The firm informed investors that it aims to achieve over $2 billion in revenue by FY30, which implies 2 times growth in revenue. Further, it aims to achieve 25 per cent earnings before interest, tax, depreciation, and amortisation (Ebitda) margin, which translates to 3 times growth.

2) Imagicaaworld Entertainment was on the spotlight after the company announced its entry into new geographies, with a new water park located between Indore and Ujjain.

# Sentimental Overview:

Bulls must be simply blushing…

As the rush of ‘Emotional Buying’ has transformed into ‘Momentum Buying’ which moved further towards ‘Buying Stampede’ and then ‘Raging Bull’ market rockets Nifty to fresh all-time-high at 26032.80 mark.

# Technical Overview:

Nifty’s ongoing bull market seems in full stampede mode and the short-term technical outlook continues to remain in favor of bulls on backdrop higher/high low pattern on all time frames.

Nifty’s immediate goalpost now at 26250 milestone.

The line in the sand is at Nifty’s psychological support at 25750 mark.

# Outperforming Nifty Sectors:
Nifty Media (+2.85%)
Nifty Reality (+0.57%)
Nifty PSE (+0.54%)

# Underperforming Nifty Sectors:
Nifty PSU BANKS (-0.85%)
Nifty IT (-0.66%)
Nifty FMCG (-0.44%)
(Source NSSEINDIA.com)

# Bulls of the day:
POWERGRID (+4.04%)
AXISBANK (+2.39%)
NTPC (+2.02%)
BAJAJFINSV (+1.59%)
GRASIM (+1.55%)

# Bears of the day:
LTIM (-3.69%)
TECHM (-2.27%)
TATACONSUM (-1.87%)
TATAMOTORS (-1.36%)
TITAN (-1.13%)

(Source NSSEINDIA.com)

 

 

Disclaimer: This does not construe to be an investment advice. Stock market investments are subject to market risks. All information is a point of view, and is for educational and informational use only. The author accepts no liability for any interpretation of articles or comments on this platform being used for actual investments. Returns mentioned herein are in no way a guarantee or promise of future returns. Stock market investments are subject to market risks.

 

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