The Monday’s trading session in the Indian equity markets belonged to the bears. The trading day started with the bears fully in control leading to severe selling pressure in all the Sectors except Pharma.
This Monday Morning the Indian equity markets fell sharply lower on concerns of Covid resurgence and impending lockdown possibilities.
At closing bell, the NSE nifty drastically fell 525 points to 14310 and the Sensex plunged 1701 points to 47,883.
In Today trading session, selling pressure was seen in all sectors like realty, infrastructure, public sector, metals, power, auto finance, and banking Sector Stocks. The only exception was pharma sector which showed some strength.
Amongst the stocks, IndusInd Bank, Bajaj Finance, SBI, ONGC, Titan, M&M, Bajaj Finserv, ICICI Bank and Axis Bank all fell sharply and ended in the red.
Dr Reddy's, Dr Path Labs, Metropolis, were amongst the sole few stocks to gain in a day of carnage at Dalal Street.
The outlook for the near term will depend on the concerns of possible reversal in economic momentum and earnings of companies to be announced soon.
The Foreign institutional investors sold on monday Rs 1746 Crores whereas Domestic institutional investors bought Rs 232 Crores.
The U.S. Markets closed on Monday with slightly negative cues as Dow Jones closed in at 33,755( -55) , S&P at 4128(-1) whereas NASDAQ closed in at 13850 (-50).
For the coming week, most analysts believe that Indian markets will be trending upwards only if the Foreign institutional investors resume buying and there is positive global cues.
Most experts expect the indices to continue to be under severe selling pressure in the coming few days.Te downward movement will continue unless the FII buying happens and the economic impact of second wave of corona is less than expected.
There seems to be a possibility of the I.T., Pharma and the defensive stocks doing well in the coming days.
Private banks like Axis Bank, Icici Bank, Bandan Bank, Indusind Bank, Kotak Bank, HDFC Bank will look to recover from the mondays lows.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda have seen severe corrections and can be accumulated for decent gains in near future.
NBFC’S – Mahindra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance will give good opportunity to buy on dips for April Series.
The Excellent Results expected from All Major I.T. Companies can be a big trigger for all I.T. stocks in the coming results season. The Rising Covid cases in india will act as a cue for the market participants to move to I.T. Sector like the march 2020 phase.
The Good results From TCS Should help the I.T Majors like Wipro, Infosys, Co-Forge , Tech Mahindra, and HCL Tech to gain on tuesdays trading session.
Cement stocks like Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength as the broader market looks to gain some streght after the mondays severe jolt.
Pharma stocks like Glenmark Pharma, Dr Reddy’s, Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
The stocks to keep an eye on in the Indian equity markets will be the Pharma Sector, I.T Sector, Banking Sector, NBFC Sector, FMCG Stocks and Cement sector Stocks.
# 5 Banking Stocks: HDFC Bank, Indusind Bank, Axis Bank, ICICI Bank, Federal Bank.
#5 NBFC Stocks: Bajaj Finance, HDFC LTD, IBull Housing, Shriram Transport , PEL .
# 5 Pharma Stocks: Cadila, Sun Pharma, Cipla, DrReddy’s, Divi’s Lab.
#5 Information Technology Stocks: TCS, HCL TECH, Co- Forge, Infosys, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Tuesday Morning in the Indian Equity Markets:
Bharti Airtel, Petronet, Tata Consumer, Tata Power, Adani Enterprise, Kotak Bank, Reliance, Deepak Nitrate, Adani Port, Graphite
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
13TH April Stock Picks — HDFC LTD , GRASIM.
( Watch YouTube Video Analysis here – https://youtu.be/fZK4hcAmnR8 )
After a weak trading day on Monday, the view is that for the Indian equity Markets the bulls will need strong buying from Fii’s to resume for it to decisively cross the 14500 Nifty levels on Tuesday.
INDIAN EQUITY MARKETS THIS TUESDAY MORNING!
We do conduct Pre-Market Analysis webinars daily in the morning. You can join this live webinar of today through our Facebook Page & Youtube Channel.
Cheerful Trading !!
