Top 20 Gainers Shares of today, will the trend continue even on September 2, 2024, understand the analysis of big investors
On August 30, 2024, the Indian stock market experienced a remarkable rally, with the Sensex and Nifty indices reaching new all-time highs. This surge was primarily driven by significant gains in key stocks such as Bajaj Finance, M&M, and NTPC. The market’s positive momentum reflects a broader trend of investor optimism, bolstered by favorable economic indicators and strong corporate performances.
Main Points
Market Overview
The BSE Sensex closed at 82,134, up by 349 points, while the NSE Nifty finished at 25,152, marking an increase of 99.6 points. This upward trajectory is part of a nine-day bull run, showcasing resilience in the face of global economic challenges. Major contributors to this growth included Bharti Airtel, ICICI Bank, and Infosys, which played pivotal roles in lifting market sentiment.
Top Gainers of the Day
The following shares were among the top gainers on August 30, 2024:
- Bajaj Finance: Continued its upward trend, reflecting strong consumer demand and financial performance.
- M&M (Mahindra & Mahindra): Benefited from robust sales figures in the automotive sector.
- NTPC: Gained from positive developments in the energy sector and government initiatives.
- Power Grid: Increased demand for electricity and infrastructure projects supported its growth.
- Bharti Airtel: Strong performance in the telecom sector, driven by subscriber growth.
- TCS (Tata Consultancy Services): Continued to benefit from digital transformation trends across industries.
- Sun Pharma: Positive news regarding drug approvals and market expansion contributed to its rise.
- ICICI Bank: Strong quarterly results and improved asset quality attracted investor interest.
- HDFC Bank: Continued to show resilience with steady loan growth.
- Infosys: Benefited from strong demand for IT services and digital solutions.
Here’s the data presented in a table format:
| Symbol | Open | High | Low | Prev. Close | LTP | %chng | Volume (Shares) | Value (₹ Lakhs) | CA |
|---|---|---|---|---|---|---|---|---|---|
| CIPLA | 1,615.00 | 1,663.70 | 1,615.00 | 1,618.55 | 1,654.60 | 2.23 | 32,96,701 | 54,410.73 | 02-Aug-2024 |
| BAJFINANCE | 7,071.05 | 7,215.05 | 7,071.05 | 7,063.55 | 7,210.00 | 2.07 | 20,44,367 | 1,46,742.01 | 21-Jun-2024 |
| M&M | 2,780.00 | 2,821.55 | 2,765.00 | 2,757.60 | 2,812.00 | 1.97 | 48,95,220 | 1,37,207.63 | 05-Jul-2024 |
| DIVISLAB | 5,019.50 | 5,132.50 | 5,019.50 | 5,012.55 | 5,105.00 | 1.84 | 8,53,203 | 43,495.09 | 02-Aug-2024 |
| NTPC | 412.70 | 419.20 | 411.50 | 409.90 | 417.20 | 1.78 | 2,26,33,988 | 94,051.01 | 07-Aug-2024 |
| HEROMOTOCO | 5,400.00 | 5,518.00 | 5,385.85 | 5,374.50 | 5,467.00 | 1.72 | 15,69,946 | 85,805.56 | 01-Aug-2024 |
| BAJAJFINSV | 1,769.95 | 1,793.50 | 1,750.05 | 1,755.65 | 1,782.00 | 1.50 | 38,65,499 | 68,646.24 | 21-Jun-2024 |
| POWERGRID | 335.00 | 340.85 | 334.05 | 333.30 | 338.00 | 1.41 | 2,27,13,812 | 76,788.58 | 16-Aug-2024 |
| SUNPHARMA | 1,798.15 | 1,828.15 | 1,791.30 | 1,799.20 | 1,823.35 | 1.34 | 30,36,374 | 55,249.86 | 12-Jul-2024 |
| BHARTIARTL | 1,576.00 | 1,608.40 | 1,561.60 | 1,565.90 | 1,584.00 | 1.16 | 3,78,20,442 | 6,01,102.98 | 07-Aug-2024 |
| TCS | 4,500.00 | 4,592.25 | 4,487.80 | 4,511.80 | 4,562.70 | 1.13 | 36,37,222 | 1,65,339.02 | 19-Jul-2024 |
| APOLLOHOSP | 6,865.00 | 6,990.00 | 6,851.00 | 6,857.20 | 6,933.00 | 1.11 | 4,99,581 | 34,601.83 | 16-Aug-2024 |
| TITAN | 3,550.00 | 3,598.00 | 3,542.50 | 3,533.20 | 3,570.00 | 1.04 | 21,16,894 | 75,516.81 | 27-Jun-2024 |
| ULTRACEMCO | 11,225.05 | 11,360.90 | 11,222.00 | 11,222.00 | 11,320.00 | 0.87 | 4,62,185 | 52,216.92 | 30-Jul-2024 |
| INFY | 1,938.00 | 1,950.00 | 1,928.00 | 1,933.35 | 1,949.85 | 0.85 | 1,34,66,759 | 2,61,344.01 | 31-May-2024 |
| BAJAJ-AUTO | 10,835.00 | 10,921.35 | 10,705.00 | 10,807.85 | 10,900.00 | 0.85 | 4,98,560 | 54,058.26 | 14-Jun-2024 |
| DRREDDY | 6,938.00 | 7,045.00 | 6,938.00 | 6,931.15 | 6,990.00 | 0.85 | 6,83,042 | 47,935.27 | 16-Jul-2024 |
| ICICIBANK | 1,230.00 | 1,235.55 | 1,218.90 | 1,221.90 | 1,232.00 | 0.83 | 2,12,11,148 | 2,60,511.08 | 12-Aug-2024 |
| EICHERMOT | 4,901.05 | 4,979.50 | 4,896.00 | 4,915.90 | 4,956.25 | 0.82 | 4,65,200 | 23,048.10 | 07-Aug-2024 |
| GRASIM | 2,676.20 | 2,708.90 | 2,676.20 | 2,676.20 | 2,696.95 | 0.78 | 9,94,826 | 26,839.51 | 06-Aug-2024 |
Technical Analysis
A technical analysis of the market indicates that the Nifty index has broken through key resistance levels, suggesting a bullish trend in the near term. Traders are advised to monitor support levels at around 25,000 and resistance at 25,500. The Relative Strength Index (RSI) indicates that the market is currently in an overbought condition, which may lead to minor corrections.
Fundamental Analysis
From a fundamental perspective, the positive economic indicators, including GDP growth projections and strong corporate earnings, have significantly influenced market sentiment. The Indian economy is expected to grow at a rate of 6.9% year-on-year, reflecting resilience despite global economic uncertainties. This growth is supported by robust domestic consumption and government spending in infrastructure projects.
Today’s Target Prediction
Investors should consider setting target prices based on the recent performance of top gainers. For instance, Bajaj Finance could see a target of ₹2,427, while M&M may aim for ₹1,500 in the short term.
Movement Causes
Several factors have contributed to the market’s upward movement:
- Positive Global Cues: Global markets have shown signs of recovery, with major indices in the US and Europe hitting record highs.
- Strong Corporate Earnings: Many companies have reported better-than-expected earnings, boosting investor confidence.
- Government Initiatives: Policies aimed at enhancing infrastructure and economic growth have positively impacted market sentiment.
52-Week High and Low
As of August 30, 2024, many stocks have reached their 52-week highs, indicating strong investor interest. For example, Bajaj Finance and TCS have both achieved significant milestones, reflecting their robust business models and market positions.
Buyback News
Investors are also keenly observing buyback announcements from major companies. For instance, Reliance Industries has announced a potential buyback, which could further enhance shareholder value and market confidence.
Important Levels
Key levels to watch for in the upcoming trading sessions include:
- Support Levels: 25,000 and 24,870
- Resistance Levels: 25,320 and 25,500
These levels will be crucial for traders looking to make informed decisions.
