Steel City Securities and Mohit Industries saw sharp gains of over 15% on August 4, supported by strong technical positioning. Investors are observing these moves as both stocks continue to trade well above their key short- and long-term moving averages.
On August 4, 2026, the Indian equity market saw notable upward momentum in specific stocks, led by Steel City Securities and Mohit Industries. Steel City Securities recorded a 15.7% gain to reach ₹89. The stock is currently trading above critical technical thresholds, including its 30-day moving average of ₹76.90 and 200-day moving average of ₹85.66. For investors, this positioning above key moving averages often serves as a signal of sustained buying interest in the secondary market.
Mohit Industries also mirrored this performance, climbing 15.5% to close at ₹26.94. The company hit its upper circuit limit during the session, a technical state where buy orders exceed sell orders, preventing further price increases for the day. Similar to Steel City Securities, Mohit Industries has maintained a position above its 200-day moving average of ₹25.71, which traders often view as a gauge of the stock's long-term trend.
Market Breadth and Highs
The broader market sentiment remained active, with numerous companies reaching new 52-week highs. Notable names across diverse sectors, including Siemens, Bajaj Auto, Titan Company, Federal Bank, and TVS Motor, recorded fresh highs during the trading session. This list also included consumer-focused businesses like Dr Lal PathLabs and FSN E-Commerce Ventures (Nykaa), as well as industrial players like Welspun Corp and Ramkrishna Forgings.
Stocks Under Selling Pressure
While several stocks trended upward, others faced selling pressure on August 4. Jain Resource Recycling fell 5.4% to ₹327.05, and DOMS Industries dropped 4.1% to ₹2,192. Both stocks are currently trading below their 50-day moving averages, which some market observers interpret as a sign of weakening momentum in the near term. Additionally, P S Raj Steels saw a decline of 3.6%, closing at ₹81.25.
For investors, these price movements—whether upward or downward—are often driven by technical factors, market sentiment, and institutional activity. Moving forward, the key monitorable for those tracking these stocks will be whether they can sustain their current positions relative to these moving averages, as a shift below or above these levels often informs the next phase of price action.