Large Cap Segment Remains Strong Amidst Mixed Market Trends

Apr 02 2024 12:00 PM IST
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The technical calls for UltraTech Cem. and ICICI Lombard have been upgraded to Buy, indicating a positive outlook for these stocks. The advance decline ratio for large cap stocks is also positive, with 58 advancing and 42 declining.
Today, the market is being driven by a mix of positive and negative factors. On one hand, we have seen a slight dip in the Large cap (BSE 100) index, with a decrease of -0.03%. However, this has not affected the overall performance of the large cap segment, which has been the best performer in the market. Bharat Electron has shown a return of 4.92%, making it the top performer in this segment. On the other hand, Hero MotoCorp has been the worst performer with a return of -2.70%. Looking at the technical calls for the large cap stocks, we can see that UltraTech Cem. and ICICI Lombard have been upgraded from Hold to Buy. This indicates a positive outlook for these stocks in the near future. The advance decline ratio for this segment is also positive, with 58 stocks advancing and only 42 declining, resulting in a ratio of 1.38x. Investors should keep an eye on the upcoming results of TCS, ICICI Lombard, Infosys, Bajaj Auto, and HDFC Life Insur. These companies will be declaring their results in the next few days, which could have an impact on the market. In terms of stock score upgrades, NTPC, Hero MotoCorp, Trent, IndusInd Bank, and DLF have all been upgraded from mildly bullish to bullish. This indicates a positive sentiment for these stocks and could potentially lead to an increase in their prices. Overall, the market is showing a mix of positive and negative trends, with the large cap segment remaining the best performer. Investors should keep a close watch on the upcoming results and stock score upgrades to make informed decisions in the market.

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