The Indian Equity Markets opened in the positive zone and then gained strength to close at the all-time high on Monday.
Infosys, Tech Mahindra, Tata Steel, ICICI Bank, ITC, Maruti, SBI, and Axis Bank were the main gainers in trade on Monday.
On the other hand, HCL Tech, M&M, Dr. Reddy's, Asian Paints, Bajaj Auto, and Bharti Airtel were among the losers.
After starting the day in the positive zone, the bulls did manage to hold to the gains and Nifty finally end at the closing bell at 18477(+138) levels whereas the Sensex closed at 61,765(+459)
IT, bank, and metal stocks witnessed hectic buying, while profit-taking in pharma and auto counters capped the gains.
The domestic market traded at record highs withstanding the weak trends in the global market due to disappointing Chinese GDP numbers and global inflationary pressure as a result of energy shortage.
Chinese GDP grew by just 4.9 percent during the July-September quarter owing to lower-than-expected growth in industrial activity.
The trend in the Indian market was bullish as PSU Banks, Metals, IT and Energy stocks took charge of the rally.
On the sectoral front, shares of metal companies were in focus on rising base metal prices amid higher demand expectations. Sectorally, BSE metal, utilities, power, basic materials, IT, and tech indices rallied as much as 4.31 percent, while healthcare and telecom ended in the red.
The Foreign institutional investors bought Rs512 Crores whereas Domestic institutional investors Sold Rs 1703 Crores.
Most experts believe that the Indian equity markets can continue to move upwards when the FII's resume buying in a big way and move towards the all-time high during this week.
There seems to be a possibility of the Banking Sector, Metals, Pharma, Power, and the defensive stocks doing well in the coming days.
NBFC’S – PEL, Bajaj Twins, Shriram Transport Finance will give a good opportunity to buy on dips.
Financials & Private banks like HDFC Bank, Federal Bank, Axis Bank, Icici Bank, Bandhan Bank, Indusind Bank, Kotak Bank, will look to move upwards from Monday's Trade.
PSU banks especially SBI will be in focus once the Bank Nifty starts to move upwards.
I.T Stocks like Mphasis, HCL TECH, Infosys, LTTS, LTI, Wipro, Tech Mahindra, Mastek are looking to bounce back from Monday's weakness and good gains can be made in the coming days.
Major I.T. Companies can be accumulated for a decent upside as the investors and traders are keen to buy them.
Pharma stocks like Divi’s Lab, Cipla, and Sun Pharma are expected to do bounce back from hereon.
The stocks to keep an eye on in the Indian equity markets will be the Banking & NBFC, I.T. Sector, Power Sector, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Axis Bank, Kotak Bank, Icici Bank, HDFC Bank, Federal Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, IBull Housing, Bajaj Finserve, IDFC LTD.
# 5 Pharma Stocks: Divi’s Lab, Glenmark Pharma, Sun Pharma, Lauras Labs, Granules.
#5 Information Technology Stocks: TECH Mahindra, Ltts, Co- Forge, Infosys, LT Infotech.
#10 Other Main Stocks to watch out for on this Tuesday Morning in the Indian Equity Markets:
Sonata Software, Exide, Fineorganics, SRF, Tata Motors, Chola Finance, Graphite, Ashok Leyland, Deepak Nitrate, RBL Bank.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain- —
19th October Stock Picks –– Tata Coffee, Berger King.
Watch YouTube Video Analysis here –https://youtu.be/14Ib4sbz2bU
The view is that for the Indian equity Markets the bulls will need strong buying from Fii’s to move upwards of18800 -19000 Nifty Levels.
INDIAN EQUITY MARKETS THIS TUESDAY MORNING!
