Multibagger stocks: The stock markets continued to rally for the fourth consecutive trading session and the BSE Sensex on Wednesday gained 367 points and reclaimed the level of 60,000 points. The rise in bank and financial stocks limited the profit-booking effect in IT stocks. According to traders, gains in the rupee against the US dollar and continued buying by foreign institutional investors supported the upside.
The market was volatile in the beginning. However, later it gained momentum and in the end the BSE Sensex, based on 30 shares, gained 367.22 points, or 0.61 percent, to close at 60,223.15 points. Earlier, the index closed above the 60,000 mark on November 17, 2021.
Similarly, the Nifty of the National Stock Exchange closed at 17,925.25 with a gain of 120 points or 0.67 percent. We are going to tell you which stocks to watch on Thursday (January 6, 2022):-
HFCL: This stock has dazzled the eyes of investors and traders with a gain of up to 13 per cent on intraday basis on Wednesday. This boom has come because of the improvement in business. It is powering its network with Artificial Intelligence-based analytics. It has partnered with ApreComm, an AI-powered Wi-Fi technology provider. This news has really excited the shareholders and those planning to invest in the AI technology sector.
AU Small Finance Bank: The stock of AU Small Finance Bank has gained 6.88 percent in Wednesday’s trading session. The stock has gained more than 15 per cent in the last 5 days. In the last three trading sessions, the stock has gained traction and given a MACD crossover with positive RSI. Keep an eye on this stock for Thursday’s trading session.
Banking Stocks: On the sectoral front, BSE Bankex on Wednesday outperformed the benchmark index and other sectoral indices with a gain of 2.43 per cent. AU Small Finance Bank, Kotak Mahindra Bank, Bandhan Bank, Axis Bank and HDFC Bank were the top gainers in the index.
Upper Circuit Stocks: Shares of Shree Renuka Sugars and Bajaj Hindustan Sugars settled in Upper Circuit on Wednesday and are likely to remain in focus on Thursday.
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