BEL, BDL, Tata Communications, Astral and Sarda Energy trade above 200 EMA levels on Thursday; will the gains sustain?

Indian markets staged a sharp recovery during the early afternoon deals, but indices exhibited a mixed trend as traders remained cautious amid the resurgence of tensions in the Middle East and the resulting recent spike in crude oil prices, fueling inflation concerns.

The Sensex traded in the green during early noon deals, with investors showing interest in select heavyweight stocks, while the NIFTY50 kept its head below the neutral line despite witnessing a recovery, amid foreign outflows and lingering global uncertainty.

While indices recouped from intraday lows, the NIFTY50 continues to trade below the crucial long-term 200 EMA level of 24,408. The close above the 200 EMA level remains critical for bulls to regain strength. Meanwhile, key stocks from the broader NIFTY500 index are crossing their 200 EMA averages.

Astral Ltd

Shares of Astral Ltd soared over 8% on Thursday afternoon to ₹1,593 apiece on the NSE, crossing its 200 EMA of ₹1,499 apiece. The PVC pipe maker's shares rose over 12% in two trading sessions.

Bharat Electronics Ltd

Shares of one of India’s leading defence players, Bharat Electronics Ltd, crossed its 200 EMA of ₹409 apiece on the NSE on Thursday amid broader buying momentum in the defence stocks. The shares have surged over 8% from the recent swing lows touched earlier this month.

Bharat Dynamics

Shares of another defence player, Bharat Dynamics Ltd, jumped over 2.44% on Thursday afternoon as its shares crossed the 200 EMA mark of ₹1,351 apiece on the NSE. Bharat Dynamics' share price has touched an intraday low of ₹1,329 apiece and an intraday high of ₹1,379 apiece on the NSE.

Sarda Energy & Minerals

The shares of Sarda Energy & Minerals soared over 10%, hitting an intraday high of ₹543 apiece on the NSE. The shares crossed the crucial 200 EMA benchmark of ₹517 apiece on the NSE.

Tata Communications

While other Tata Group stocks extended their losses from Wednesday, Tata Communications shares eased the selling pressure. The shares are trading comfortably above the 200 EMA of ₹1,739 apiece at ₹1,749 on the NSE at 2:40 pm.