The Indian Equity Markets opened gap up in the early morning session. Then the Nifty did consolidate in a tight range throughout the trading day.
Bajaj Finance, Bajaj FinServ, SBI, IndusInd Bank, Dr Reddy's, Tech Mahindra, ITC and Kotak Bank were among the gainers on Thursday’s expiry day trading session.
On the other hand, Bajaj Auto, Maruti, HCL Tech, Ultratech Cement, PowerGrid, ONGC and Nestle ended in the losing side.
The financial, pharma, and IT shares gained the most on Thursday. Finally at Closing Bell on the weekly expiry trading session, the Nifty ended at 15,737(+102) whereas the Sensex ended at 52,346(+358).
This is the Second Highest every closing for Nifty in the Indian equity markets.
Most analysts are of the view the upward trend continuing in the Indian Equity Markets in COVID-19 cases in the country has shored up investor confidence.
The Foreign institutional investors bought on Thursday Rs 1329 Crores whereas Domestic institutional investors sold Rs 575 Crores.
Most experts expect the indices to continue to be upward trending with support from global sentiments.
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 volatile trading session.
There seems to be Sector rotation happening with Metals, I.T Sector, Banking, and Financials Stocks gaining for the last few days.
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 Rbl, ICICI Bank, Federal Bank, Kotak Bank, Axis Bank, HDFC Bank will look to move further up.
NBFC’S – Bajaj Finance , PEL, Bajaj Finserve, India bulls housing finance will be looking to move upwards.
The I.T Majors like Wipro, TCS, Infosys, L& T Infotech, Mastek are Likely to gain if the global markets remain positive.
Also, Maruti, Tata Motors, Ashok Leyland, are expected to regain the positive up move in the near term.
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: 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: Wipro, Coforge, Infosys, Mastek, LTTS.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
PI Industries , Motherson Sumi, Dr Reddy’s, Maruti, Bajaj Finserve, Deepak Nitrate, Apollo Tyres, Bandhan Bank, Coforge, Tata Motors.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
After a relatively positive trading day on Thursday, the view is that the Indian equity markets will be looking to consolidate and move upwards.
Most Analysts believe that the Positive Cues from the US Markets on Thursday closing will help the Indian equity markets in Friday’s trading Session.
Best wishes for a Cheerful Friday in the Indian equity markets!
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 !!
