The Thursday Expiry day was a trending day with stock market today graph carrying the positive sentiments from Wednesday and trending in positive throughout the day.
As hinted in yesterday’s morning post here, the Indian equity markets opened gap up at 15080 and slowly moved upwards to consolidate around 15150 levels during the day.
It was the day of the PSU sector stocks to be in the limelight and all of them were up anywhere between 8 to 10 % + on Thursday.
The PSU defence stock, Metal stocks and banks gained momentum from the positive news flow of previous evenings disinvestment push by PM Modi.
BEML, BHEL, BPCL, ONGC, Central bank, Bank of Maharashtra, Indian overseas bank, etc all gained anywhere between 5% to 10 percent on Thursday.
Reliance was the other prominent stock to move with a 4+% Gain to help the positive sentiments.
Infosys and TCS was marginally in the green with losing momentum as the day progressed and came down towards the day’s low.
Finally, the benchmark indices ended higher on February 25, with the Nifty ending the February series near 15,100, supported by the metal and energy stocks. At close, the Sensex was up 257.62 points, or 0.51%, at 51,039.31, and the Nifty was up 115.40 points or 0.77% at 15,097.40.
The Foreign institutional investors bought on Friday Rs 188 Crores whereas Domestic institutional investors sold Rs746 Crores.
FII’s resuming to buy in a big way will be the key to the markets upwards movement in the near term.
The US Stock Market today Dow Jones closing at 31402.01 (-559.85), S&P at 3829.34 (-96.09), and NASDAQ closing at13119.43 (-478.54).
For the coming week, most analysts believe that Indian markets will keep trading higher with the global markets supporting it with positive news flow for it to reach near 15500 levels.
Most experts expect the indices to continue being bullish from now on and scale towards 15200-15400 range in the near term.
The Global Markets trading in the positive territory will definitely help nifty scale upwards in the coming days and reach the new highs in March Series expiry.
The Government pushing aggressively on the disinvestment path will keep the PSU banks in the radar of most traders and investors.
Bank of Baroda, PNB, and Canara bank didn’t move much on Thursday and can be expected to follow the path of other PSU Banks to reach higher levels.
The private banks like HDFC Bank, IndusInd Bank, Axis Bank, ICICI Bank, Kotak Bank, Federal Bank will continue to show strength and trade in positive territory.
NBFC’S - Bajaj Twins, Shriram Transport Finance too will look go up in the coming days after a consolidation.
Infosys, Tech Mahindra, TCS, Wipro have been consolidating for a long time now. The I.T. Majors are expected to make an up move any time and has been testing the patience of most traders and investors. These stocks can be accumulated at lower levels for substantial gains in the near term.
Pharma stocks like Divi’s Lab, Sun Pharma, Cadila and Cement stocks like ACC, and Grasim are Likely to show strength as the broader market looks to regain lost ground of the last week.
Also Bharat Forge, Bharti Airtel, Maruti, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders.
The general Sentiments in the market seem to have turned bullish with opportunity to buy in dips for a bounce back if global markets give positive cues.
The stocks to keep an eye on in the Indian equity markets will be the Banking Sector, NBFC Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Bank of Baroda, Canara Bank, Axis Bank, Indusind Bank, ICICI Bank.
#5 NBFC Stocks: Bajaj Finance, HDFC LTD, Bajaj Fin serves, Mahindra and Mahindra financial, Shriram Transport.
# 5 Pharma Stocks: Dr Reddy’s, Sun Pharma, Divi’s Lab, Biocon, Sun Pharma.
#5 Information Technology Stocks: TCS, HCL Tech, Tech Mahindra, Infosys, L&T Technology.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets: Stocks in the News
JLR Analyst Meet expected on Friday will keep Tata Motors in the limelight. Analyst are expecting positive news from this meet and it will take TATA MOTORS to new highs.
Ashok Leyland is also showing good traction.
Tata Motors, Ashok Leyland, Reliance, Adani Port, Max Financial (life insurance), Bharti Airtel ,HDFC Standard Life, Tata Elixsi, Adani Power, Torrent Power.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
26th February Picks — Ashok Leyland , M&M Financial, PEL & Tata Motors.
(Watch YouTube Video Analysis here – https://youtu.be/L69hiHu29Dc)
After a day of strong closing for Thursday monthly expiry, the Trading view is that the Indian equity Markets will be trying to move upwards on Friday carrying the positive sentiments of last couple of days.
Most Analysts expect the markets to reach new highs in the March expiry.
Best wishes for a Cheerful Friday in the Indian equity markets!
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