The Indian Equity Markets opened strongly in the green in the early morning session on Thursday's expiry day trading and then did come down 50-75 Nifty points during the Day. Towards the Closing bell, the Indian equity markets again bounced back to close strongly on Thursday's weekly expiry.
Tech Mahindra, Bajaj Finance, Bharti Airtel, Bajaj Finserv, L&T, Tata Steel, and Infosys were the top gainers on Thursday’s Expiry day trading session.
On the other hand, HUL, Asian Paints, Bajaj Auto, and M&M were the main losers in trade.
After starting the day in positive zone on the back of strong U S Markets closing for the last 2 days, the Nifty did slide 50 points but recovered fast to trade around 15800 levels for a long time. Then towards closing, the nifty bounced back to end strongly at 15824 (+191) whereas the Sensex closed at 52837 (+638).
Most Analysts believe that the Indian markets have made a smart pull-back, supported by the positive global set-up and a decent start to the Q1FY22 earnings season.
They point out that the Markets are clearly rewarding the stocks/sectors where the earnings momentum is strong (such as IT - especially midcap IT, cement, metals) or where growth visibility remains good (such as chemicals, healthcare, etc). It is to be seen whether the Global cues on Thursday night will help nifty to finally scale above 16000 levels and move further up on Friday's trade.
Most experts expect the indices to continue to trade upwards on the last trading day of the week.
The Global cues will be an important trigger for the markets apart from the good results from the rest of the companies. Normally most traders look to book profits on the last day of the week and go with fewer trades for the next week.
The second half of the session can be a volatile trading session on Friday on account of profit booking.
There seems to be Sector rotation happening with I.T Sector, Banking, and Financials Stocks looking to move upwards in the near term.
Pharma stocks like Dr. Reddy’s, Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
The private banks like HDFC BANK, Bandhan Bank, Rbl, ICICI Bank, Federal Bank, Kotak Bank, Axis Bank, will look to move further up.
NBFC’S – Bajaj Finance, IDFC LTD, PEL, Bajaj Finserve, Equitas Holding, India bulls housing finance will be looking to move upwards.
The I.T Majors like Infosys, Wipro, LTTS, Tech Mahindra, L& T Infotech, Mastek are Likely to gain on the back of good I.T. Sector Results.
The general Sentiments in the market seemed to have turned Bullish.
The stocks to keep an eye on in the Indian equity markets will be the Financials, I.T Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: HDFC Bank, Federal Bank, Icici Bank, RBL Bank, Axis Bank.
#5 NBFC Stocks: IDFC LTD, Bajaj Finance, HDFC LTD, Mahindra and Mahindra financial, India bulls Housing Finance, PEL.
# 5 Pharma Stocks: Dr. Reddy’s, Lupin, Divi’s Lab, Sun Pharma, Cadila.
#5 Information Technology Stocks: Mastek, LTI, Wipro, Coforge, Infosys.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
LTTS, KPIT Tech, Equitas Holding, Cyient, ISGEC Heavy Engineering, Deepak Nitrate, Bajaj Finserve, CCL Products, Mahindra & Mahindra, Tata Coffee.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
After a relatively strong trading day on Thursday, the view is that the Indian equity markets will be looking to move upwards.
Most Analysts believe that the positive Cues from the US Markets on Thursday's closing will give momentum to the trading in the Indian equity markets on Friday.
Best wishes for a Cheerful Friday in the Indian equity markets!
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Cheerful Trading !!
