The Indian Equity Markets on Tuesday opened in the green in early morning trade. It was a day of big volatility and the markets were showing uncertainty as it closed in the negative zone towards the closing bell.
Bharti Airtel, Tech Mahindra, Bajaj Finance, Bajaj Finserv, HCL Tech, and Infosys were the main losers in trade on a day of high volatility in the Indian equity markets.
On the other hand, PowerGrid, NTPC, Sun Pharma, Titan, Kotak Bank, and Dr. Reddy were among the gainers.
After starting the day in the positive zone, the nifty did slide down nearly 300 points before finally ending at the closing bell at 17748(-106) levels whereas the Sensex closed at 59,667 (-410).
After plunging over 1,032.35 during the session, the 30-share Sensex pared some losses to end 410.28 points or 0.68 percent lower at 59,667.60.
The negative global cues and profit-booking in IT and realty sectors were the reasons for the selling pressure In the second half, however, markets witnessed a rebound towards the closing. A rise in US bond yields and crude oil price along with the Chinese crisis acted as key headwinds to the ongoing rally in the global market.
The Foreign institutional investors Sold on Tuesday Rs 594 Crores whereas Domestic institutional investors Sold Rs 1397 Crores.
The FII’s buying in a big way will definitely help the up move in the markets. Most analysts are expecting the markets to now trend upwards to 18000 nifty levels in the Sept Series.
Most experts expect that if FII’S buying continues, the indices will go upwards in the coming few days.
Stocks to watch out for this Wednesday Morning in the Indian Equity Markets
There seems to be a possibility of the banking and financial sector bouncing back strongly to higher levels.
The I.T, Metals & Chemicals Sector also will be keenly watched by the traders.
NBFC’S – Bajaj Finance, Mahindra and Mahindra Financial Services, PEL, Bajaj fin serve, Shriram Transport Finance will be under the radar of the traders.
Private banks like HDFC Bank, ICICI Bank, Axis Bank, Bandhan Bank, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
The I.T companies like Mphasis, TCS, HCL TECH, Tech Mahindra, Co-forge, and Mastek are likely to move up quickly in the coming days.
The other I.T. Stocks like LT Infotech, Intellect Design, LTTS, Sonata Software also can be observed for an upwards move in the coming days.
Pharma stocks like Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be positive in the Indian equity markets. The traders will be looking for global cues for direction in the coming days.
The stocks to keep an eye on in the Indian equity markets will be the Banking and Financial Sector, PSU sector, I.T., OMC, Chemicals Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Kotak Bank, Indusind Bank, Icici Bank, Federal Bank, HDFC Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, Shriram Transport, India Bulls Housing Finance, HDFC LTD.
# 5 Pharma Stocks: Dr. Reddy's, Granules, Divi’s Lab, Cadila, Glenmark Pharma.
#5 Information Technology Stocks: Infosys, LTI, LTTS, Mastek, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Reliance, Arti Surfactants, Fine Organics, ISGEC Heavy Engineering, Cyient, Gabriel India, Bandhan Bank, Sunteck Realty, Bank of Baroda, Gujarat Alkalies.
After a weak day of trading on Tuesday, the view is that the Indian equity markets will be a volatile day on Wednesday too.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain
29th September Stock Picks––
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Most Analysts expect the markets to reach 18000 levels for the near term.
You can watch us live on every trading day on our Facebook Page and YouTube Channel with our Chart Pe Charcha wherein we discuss the respective trading strategy and the stocks.
INDIAN EQUITY MARKETS THIS WEDNESDAY MORNING!
Best wishes for a Cheerful Wednesday in the Indian equity markets!
