Sensex and Nifty rise over 1% for fourth session

The stock market saw a positive trend on Thursday, with both the Sensex and Nifty indexes rising over 1%. This marked the fourth consecutive day of gains, driven by strong buying across various sectors. Among the stocks to watch was Garden Reach Shipbuilders and Engineers Ltd (GRSE), which rose 4.73% to Rs 1,724. Analysts noted that GRSE has broken above a long-term downtrend, indicating bullish momentum. Given the government's focus on defense modernization, there are expectations for continued upside, with a target of Rs 2,000. In contrast, KEI Industries faced challenges, dropping 12.38% to Rs 2,876.75. The decline was attributed to increased competition, particularly from Adani entering the cable market. The stock fell below important support levels and remains in a downtrend, suggesting potential further losses. InterGlobe Aviation, known as IndiGo, also showed strong performance, increasing 2.2%. The stock has broken through key resistance levels and is trading well above major moving averages, indicating a strong bullish trend. Analysts believe if the momentum continues, the stock could reach a target of Rs 5,650. Overall, while GRSE and IndiGo show promising potential, KEI Industries is considered a sell in the current market conditions. Investors are encouraged to stay informed as trading resumes.