The Stock Market in India was volatile on the last trading day of September's expiry closing. The Indian stock market opened in Green and then the selling pressure came in to bring in the volatility.
PowerGrid, Asian Paints, Axis Bank, Kotak Bank, Bajaj Auto, SBI, and M&M were the main losers in trade on Thursday's expiry day of trading.
On the other hand, Bajaj Finserv, Bajaj Finance, NTPC, Sun Pharma, and HUL were among the gainers.
After starting the day in the positive zone, the nifty did slide downwards before finally ending at the closing bell at 17618(-93) levels whereas the Sensex closed at 59,126 (-287)
According to most experts, the expiry of monthly futures and options (F&O) contracts induced volatility during the session.
The Indian markets started mixed following mixed Asian markets cues as China official data shows unexpected contraction in factory activity.
But During the afternoon session, markets scaled back to trade in green due to buying in consumer durables, realty, and telecom stocks.
The Foreign Institutional Investors Sold Rs.2225 Crores on Thursday, whereas Domestic Institutional Investors bought Rs 79 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 by the end of October series 2021.
Most experts expect that if FII’S buying continues, the indices will go upwards in the coming few days.
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 Stocks like Ltts, Mphasis, TCS, HCL TECH, Tech Mahindra, Co-forge, and Mastek are likely to move up quickly in the coming days.
Pharma stocks like Sun Pharma, Wockhardt, Cadila, Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be volatile 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: Axis Bank, Kotak Bank, Icici Bank, Federal Bank, Canara Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, Bajaj Finserve, India Bulls Housing Finance, HDFC LTD.
# 5 Pharma Stocks: Dr. Reddy's, Divi’s Lab, 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 Friday Morning in the Indian Equity Markets:
Vssl, Tata Steel, Gabriel India, Deepak Nitrate, Bandhan Bank, Godrej agro vet, Bank of Baroda, Gujarat Alkalies, Aarti Surfactants, Persistent System.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
1st October Picks — DLF, INDIABULLS HSG FINANCE, PVR.
Watch YouTube Video Analysis here – https://youtu.be/4Gyd-sundzA
Cheerful Trading !!
