After starting the day in the positive zone in the Indian equity markets, The nifty did trade in a lower amid global weakness and finally ended the day at the closing bell in the negative.
IndusInd Bank, Tata Steel, Bajaj Auto, HCL Tech, Sun Pharma, and Tech Mahindra were the main losers in trade on a volatile day of trading in the Indian equity markets.
On the other hand, HDFC twins and Bajaj Finance were the gainers in trade on Monday.
The Wednesday trading began in the positive zone but in the afternoon, the nifty did trend downwards showing weakness on account of global negative sentiments to finally end at the closing bell at 17646(-176) levels whereas the Sensex closed at 59,189 (-555)
The Weak global markets which resulted in profit booking in metals and IT stocks led domestic indices to trade in red, trimming its early gains.
Also, the Spike in crude prices is spooking the Indian market while inflation is affecting US bond yields. Further, RBI has commenced its three-day MPC meeting in which the central bank is expected to keep rates unchanged. However, Many experts feel RBI is likely to announce measures to gradually pump out liquidity from the economy.
The foreign institutional investors Sold on Wednesday Rs 802 Crores whereas Domestic institutional investors sold Rs 998 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 October 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 Thursday 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 and PSU banks like Axis Bank, Canara Bank, Bank of Baroda, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
The I.T majors like Infosys, Wipro, 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 Sun Pharma, Cadila, Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be bearish in the Indian equity markets on account of global weakness. 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: Bank of Baroda, Canara Bank, Indusind Bank, Icici Bank, Federal Bank.
#5 NBFC Stocks: Bajaj Finance, Shriram Transport, India Bulls Housing Finance, HDFC LTD, PEL.
# 5 Pharma Stocks: Dr. Reddy's, Granules, Cadila, Glenmark Pharma, Sun Pharma.
#5 Information Technology Stocks: Mphasis, LTI, LTTS, Mastek, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Thursday Morning in the Indian Equity Markets:
SBI LIFE, SRF, FINE organics, Laxmi organics, IDFC LTD, Gabriel India, Bandhan Bank, Bank of Baroda, Gujarat Alkalies, Aarti Surfactants.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
Pre Market Analysis--( Watch YouTube Video Analysis here – https://youtu.be/GB1DxIQ2oO0
After a weak day of trading on Wednesday, the view is that the Indian equity markets will go higher from here on in the October Series if global markets regain the bullishness.
Most Analysts expect the markets to reach 18000 plus levels for the near term
Best wishes for a Profitable Thursday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS THURSDAY MORNING!
Best wishes for a Cheerful Thursday in the Indian equity markets!
