Momentum Stocks: Shanthi Gears, Kirloskar Brothers, GVP Infotech down 4% each; Essar Shipping locked at…

The latest market report highlights that In a market short on fresh triggers, several stocks quietly grabbed attention on September 30, fuelled by technical breakouts, firm price action, and sustained buying interest.

The selected stocks are showing firm upward momentum, trading well above their key short- to medium-term moving averages, which indicates a positive trend in the near term.

Ester Industries shares rose 11.56% to ₹101.46, trading above its 30-day, 50-day, 150-day and 200-day simple moving averages (SMAs), which stood at ₹90.95, ₹91.33, ₹91.98 and ₹93.86, respectively.

GenXAI Analytics shares advanced 9.90% to ₹86.70, trading above its 30-day and 50-day SMAs of ₹78.89 and ₹77.63, respectively.

India Tourism Development Corporation shares advanced 7.95% to ₹718.55, trading above its 30-day, 50-day, 150-day and 200-day SMAs of ₹665.62, ₹685.09, ₹602.35 and ₹589.91, respectively.

The selected stocks are witnessing downward pressure, as reflected in negative price movements and their positioning relative to key moving averages, indicating a wary market sentiment.

Shanthi Gears shares declined 4.35% to ₹573.55, trading below its 30-day SMA of ₹599.66, but above its 50-day, 150-day and 200-day SMAs of ₹523.47, ₹474.35 and ₹469.53, respectively.

Kirloskar Brothers shares declined 4.21% to ₹1,764.50, trading below its 30-day and 50-day SMAs of ₹1,842 and ₹1,864.15, respectively, but above its 150-day and 200-day SMAs of ₹1,749.19 and ₹1,710.13.

GVP Infotech shares eased 4.16% to ₹7.38, trading below its 30-day, 50-day and 200-day SMAs of ₹7.70, ₹7.40 and ₹7.30, respectively, but above its 150-day SMA of ₹6.92.

Several stocks touched fresh 52-week low, highlighting persistent selling pressure in the market. Notable names that hit new low included PB Fintech, Britannia Industries, Voltas, Godrej Consumer, Waaree Energies, Havells India, Escorts Kubota, CG Consumer, DCM Shriram, General Insurance, Wipro.

Essar Shipping, Ester Industries, JHS Svendgaard Retail Ventures among others were locked in their upper circuits, reflecting firm buying and signalling bullish near-term sentiment.