Indian stocks rising against global tide

Indian stocks rising against global tideWith the Nifty up by just 1.44 % and the Sensex closing at just a 1.29% high, our stock market endures to stay unfazed by the downfall in the international markets.

While stocks whose index went up includes ITC, HDFC bank, HDFC, Jindal Steel and Power and Hindalco which topped the list with a rise in 7.1%, the stocks to tumble down were SBI, Cipla, Tata Power and Jubilant Food works which lost the maximum with a 17.1% loss.

While our market's intermediate uptrend has survived to be intact, many other countries have shown intermediate downtrends.

The global downfalls have not had much effect on our economy with the Nifty on a gradual upward motion when various other global economies have not been able to rise above their 200 day moving average for approximately the past three months and are considered to be mild bear markets.

With the prospects of the Indian market looking brighter, stocks that have shown consistent up trends are the finest potentials though the telecom sector looks the most favorable in spite of being ambiguous. Indian stock market managed a 9th rank, as the Sensex gained by 22.9% over a period of a year, amongst the 35 celebrated international indices.