Share market in April: M&M, Axis Bank among top 5 gainers as Nifty gains 1%; HCL Tech, Kotak Bank among top 5 losersPersonal FinanceShare market in April: M&M, Axis Bank among top 5 gainers as Nifty gains 1%; HCL Tech, Kotak Bank among top 5 losers

Share market in April: M&M, Axis Bank among top 5 gainers as Nifty gains 1%; HCL Tech, Kotak Bank among top 5 losers


Sensex hit its fresh RECord high of 75,124.28 on April 9 and the Nifty 50 scaled its fresh peak of 22,783.35 on April 30.

The overall market capitalisation of firms listed on BSE rose to nearly 406.56 lakh crore on April 30 from nearly 386.97 lakh crore on March 28, making investors richer by nearly 20 lakh crore in a month.

The undercurrent of the Indian stock market remains positive due to the bright outlook of the nation’s economy, the prospects of political stability after the Lok Sabha election and the strong influx of domestic investors.

In the near term, geopolitical trends, macroeconomic numbers, and rate-cut expectations will influence the market movement.

“Going ahead, the outcome of the US Fed meeting will likely set the intermediate market trend; hence, one must stay watchful of the key event. We remain sanguine with the near-term view, but a pragmatic approach would be prudent in the current scenario. Also, avoid complacency and maintain exclusivity in the stock selection to achieve outperformance,” said Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One.

Also Read: Zerodha’s Nithin Kamath hails Sebi’s move that boosts retail participation in bond market

Krishan advises investors to maintain a positive stance and view dips as potential buying opportunities.

“Immediate support for Nifty will likely shift towards the 22,500 mark, followed by 22,400, coinciding with 20 DEMA. On the contrary, the lifetime high zone around 22,775 – 22,800 is expected to serve as immediate resistance before the index heads toward the 23,000 mark,” said Krishan.

Also Read: General Elections 2024: Will Nifty50 extend gains for 4th straight month in May? What strategy should investors use?

Top five Nifty 50 gainers in April

Shares of Divi’s Labs rose about 16 per cent in April, ending as the top gainer in the key index. On Tuesday, April 30, the stock closed with a mild gain of 0.33 per cent at 4,002.40 on NSE.

Hindalco Industries shares rose about 15 per cent last month. The stock saw profit booking in the previous session and ended 0.87 per cent lower at 644.40, snapping its four-session winning streak.

Eicher Motors shares rose about 14 per cent last month. The stock ended 0.56 per cent higher at 4,597.40 apiece on NSE on Tuesday.

Mahindra and Mahindra (M&M) shares rose 12 per cent in April. The stock settled ended with a strong gain of 4.57 per cent at 2,156.35 on April 30.

Axis Bank share price rose 11 per cent in April. On the last day of the month, the stock settled 0.57 per cent up at 1,165.90, extending the gains into the eighth consecutive session.

Also Read: Top Stock Recommendations: Sagar Doshi of Nuvama recommends L&T Finance, Prestige Estates and Lupin for tomorrow

Top five Nifty 50 losers in April

HCL Tech shares, with a loss of about 11.5 per cent, closed as the top loser in the Nifty 50 index in April. Extending the losses into the third consecutive session, the stock closed 1.5 per cent lower at 1,366.60 apiece on April 30.

Kotak Mahindra Bank shares fell 9 per cent last month. On April 30, the stock ended lower by a per cent at 1,623.95.

Shares of HDFC Life Insurance Company fell nearly 8 per cent in April. The stock closed 1.5 per cent higher at 583.65 on NSE.

Shares of Sun Pharma fell over 7 per cent last month. The stock closed 1.28 per cent lower at 1,502.10 on April 30.

With a loss of 6.5 per cent, shares of Cipla also featured among the top losers in the Nifty 50 pack last month. Cipla shares closed 0.57 per cent lower at 1,400 on Tuesday.

Also Read: Stocks to buy or sell: REC, Gokaldas Exports to Astral — Sumeet Bagadia recommends 5 breakout stocks for tomorrow

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Finplay.
Download Finplay News App to get Daily Market Updates.

More
Less

Published: 01 May 2024, 11:27 AM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




Leave a Reply

Your email address will not be published. Required fields are marked *

Finplay

AMFI-registered Mutual Fund Distributor ARN-192179

Company

© 2024 Finplay Technologies Private Limited. All Rights Reserved.