Closing Bell: Sensex tumbles for 3rd day, ends 571 pts lower; Nifty below 19,750; NHPC falls 6%, M&M 3%

"The strong performance helps them to take on more projects with the help of internal accruals only. As a result, we remain positive on the company and advise investors who are allotted the shares to hold them from a medium-to-long-term perspective," said Shreyansh Shah, Research Analyst, StoxBox.

MACD or Moving average convergence divergence is a momentum indicator. The metric shows the relationship between the 2 moving averages of a security’s price. For calculating MACD, 26-day EMA is subtracted from 12-day EMA. Further, a 9-day EMA of the MACD called the signal line, is plotted on the top of the MACD, which provides the likely trading strategy in a stock i.e. a buy or a sell.

On September 20, Wednesday, StockEdge identified 14 stocks in the overbought zone, but with declining RSI trends. ETMarkets explores the significance of RSI and why these stocks are intriguing despite their bearish signals.

Shares of BLS International Services dropped 3% after reports that Indian visa services in Canada have been suspended. The suspension comes amid strained relations between India and Canada following Canadian PM Justin Trudeau's allegation of Indian government involvement in the killing of a banned terrorist. The Indian Ministry of External Affairs has advised Indian citizens in Canada to exercise caution due to growing anti-India activities and hate crimes in the country. BLS International Services' stock has seen significant gains in recent years.

RSI is a momentum indicator which gives short-term buy and sell signals and helps to determine a stock’s overbought and oversold state. It is the ratio of the recent upward price movement to the absolute price movement. The value of RSI ranges between 0-100. The StockEdge data computes the value of RSI by taking 14 days as the reference period.So, here are the major stocks whose RSIs have crossed the 70 mark from below, suggesting an overbought state. Typically, this situation hints at a sell signal on the counter. Note the data is from the previous day i.e. September 20. (Source: StockEdge)

Shares of the public sector company plunged 11% to Rs 72.75 on the National Stock Exchange. Traded volumes of about 100 million shares, was nearly five times higher than the six-month average traded volumes.

On September 20, Wednesday, StockEdge identified 13 stocks with a trending up Relative Strength Index (RSI). ETMarkets spotlights 10 of these stocks, explaining the significance of RSI and how it can guide investors' decisions.

On September 21, Thursday, Trendlyne identified over 40 Nifty stocks with the Golden Crossover pattern. ETMarkets spotlights 10 of these stocks, explaining the significance of the Golden Crossover and how it can guide investors' decisions.

The ongoing diplomatic tension between India and Canada has brought into limelight Canadian investments in India. The Canada Pension Plan Investment Board currently possesses a publicly disclosed portfolio of six stocks in the Indian equity market, collectively valued at more than Rs 16,093 crore as of September 20. Here's the full list

While the markets are in corrective mode, if one looks at the markets breadth it is not as bad as it normally is when such corrective moves have happened in the early part 2023. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.

On the weekly chart, the stock has been trading near its Lower Band of Rectangle Formation which suggests the possibility of a bounce back in the counter. “Moreover, the stock has been trading above its 100 Weeks Exponential Moving average, suggesting that the trend is up only and we can see further an up move in the counter from the present level,” said KKunal V Parar of Choice Broking.

Shares of BLS International Services dropped 3% after reports that Indian visa services in Canada have been suspended. The suspension comes amid strained relations between India and Canada following Canadian PM Justin Trudeau's allegation of Indian government involvement in the killing of a banned terrorist. The Indian Ministry of External Affairs has advised Indian citizens in Canada to exercise caution due to growing anti-India activities and hate crimes in the country. BLS International Services' stock has seen significant gains in recent years.

India's benchmark indexes extended declines for the third consecutive session on Thursday, dragged by IT stocks, after the U.S. Federal Reserve signalled that interest rates could stay higher for longer. Sensex tanks 600 points, Nifty below 19,800; PSU bank stocks buck weak trend, jump up to 6%.

The Sensex, India's headline equity index, has experienced a sharp decline, losing over 1,600 points in just three days. This has resulted in investors losing approximately Rs 4 lakh crore. The market capitalization of all companies listed on the BSE has also fallen to Rs 319.5 lakh crore. The decline in the market is attributed to factors such as the US Federal Reserve's decision to project an interest rate hike, rising bond yields, a stronger dollar, higher crude oil prices, expensive valuations, foreign institutional investor selloff, and technical factors.

After remaining under the control of bulls, mid-cap stock witnessed a sharp correction early last week and also this week, which is a short week for trading, there is some correction taking place in a few select sectors. However analysts are still bullish on select mid-cap stocks. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.

"The company is in discussions and negotiations with the labour union representatives to address their concerns and find an amicable resolution," Apollo Tyres said in an exchange filing.

In the 12-pack Nifty PSU Bank index, 11 stocks rose, barring Union Bank. The weekly gains for the index stood at 5.55%, according to Trendlyne data, the highest among the sectoral indices. The year-to-date (YTD) gains of the index are above 61%.

The resolution plan, submitted by West Coast Paper Mills Ltd and previously approved by the Committee of Creditors of Uniply Décor Ltd, marks a crucial step towards the company's expansion and diversification efforts.

SEBI's latest communication further says that if a company's promoter, or promoter group, is also a major shareholder in another company, then that other company will be considered part of the same group, a person familiar with the matter said, declining to be named as he is not authorised to speak to the media.

In a large number of countries, the transportation index is considered a leading indicator of what is happening in the economy. There is a good reason for it, higher activity in the transportation sector indicates higher economic activity and gives an advance indication of any slowdown or recovery. In India, we don't have any such reliable index given the fact that in our country a large part of transportation is done by railways. However in India probably what is happening in the auto sector gives a fair idea of what is happening to the economy. We take a look at what analysts' views are on segments and sub-segments of the auto industry.

Morgan Stanley maintained an overweight rating on Zomato but raised the target price to Rs 125 from Rs 115 earlier.

According to an exchange filing by SJVN, the government proposes to sell up to 96.6 million equity shares having a face value of Rs 10 each, representing 2.46% of the total paid-up equity share capital to non-retail investors on Thursday.

Investors like public sector stocks for their ability to pay consistent dividends. Here are 9 PSU stocks that paid the highest dividend yields in the past 12 months. (Source: Axis Securities)

Similarly, after the decline observed on September 12th, 2023, both the Nifty Midcap 150 and Small Cap 250 indices have not yet completely bounced back. However, there are 26 stocks within the Nifty Midcap 150 and 54 stocks within the Small Cap 250 that are now trading above their September 11 highs.

While the price return variant of Sensex, a plain vanilla index which captures only capital gains of its constituents, is popular, a few track the trajectory of the lesser-known Total Returns index also known as Sensex TRI. Demonstrating the power of dividends and reinvesting those dividends back for compounding gains, Sensex TRI is trading around 102,000-level while the Sensex has been unable to cross the barrier at 68,000.