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A total of 1,095 shares changed hands on the counter till 10:31AM (IST)

Promoters held 54.9 per cent stake in the company as of 31-Mar-2023, while FIIs owned 14.36 per cent, DIIs 21.4 per cent.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

GAIL (India), incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 70813.82 Crore) operating in Gas & Petroleum sector.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, six stocks crossed their previous 5-year high value at the close on May 24, suggesting bullishness in counters.

Market expert Dilip Bhat advises buying IT stocks, citing companies such as Infosys, TCS and Tech Mahindra as noteworthy, as companies are well managed, offer high EBITDA conversion rates into free cash and strong payouts. Bhat also believes that despite offering potential for solid returns, the banking sector may not offer significantly great returns from current levels so do not expect to make a large amount of money, but holding onto banking stocks will provide resilience for the overall portfolio.

India’s Economic growth looks to be in sync with the market expectations. In fact, as per IMF estimates, India will be among the top-performing countries in CY 23-24 in terms of Economic growth and performance.

From the lows seen in March, Indian equities have rallied by 8-10% with the support of improving macros, lower bond yields, and peaking out of interest rate hikes.

Indiabulls Housing Finance Company and Delta Corp have been placed under a trade ban on 25 May due to the open interest on their stocks exceeding 95% of market-wide position limits (MWPL) for Future & Options contracts. The ban will only be lifted when the open interest falls below 80%. Traders in indices will not be affected. The MWPL for Indiabulls Housing stood at 81.1% on Wednesday while Delta’s MWPL stood at 92.8%. The broader Nifty50 index settled at 18,285.40, lower by 62.60 points or 0.34%.