Thursday’s Expiry Trading in the Indian equity markets was a historic day with Nifty closing at the ALL-TIME HIGHS at the closing bell.
The morning session started with the indices opening gap up and then in the afternoon after a minor dip slowly and steadily scaled to all-time highs.
SBI, Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement, and PowerGrid were among the shares to gain the most in the monthly expiry day trading session.
Whereas HDFC, Bajaj Finance, ONGC, Bharti Airtel, HUL and Maruti were among the losers in Thursday’s trading session in the Indian equity markets.
Finally the Nifty closed strongly at 15,337 (36) and Sensex ended the day at 51,115 (+97).
This is the Highest every closing for Nifty overtaking the previous highest closing of 15314 which was on February 15th of this year.
Most analysts are of the view that the strengthening rupee and a declining trend in COVID-19 cases in the country has shored up investor confidence.
It was seen that IT stocks remained in focus for second consecutive day .
This was mainly on the back of sustained visibility of earnings momentum which did attract the investors' interest. The other sectors like banks, metals and auto also were in focus as the Indian equity markets scaled new highs .
The Buying momentum was visible in midcap and smallcap stocks and they have outperformed benchmark indices so far in the last couple of months.
Most Analysts believe that the Positive Cues from the US Markets on Thursday closing will help the Indian equity markets on Friday’s trading session.
The Foreign institutional investors sold on Thursday Rs 660 Crores whereas Domestic institutional investors bought Rs 112 Crores.
FII’s resuming to buy will be a key factor going forward in deciding the direction for the Indian equity markets.
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 I.T Sector, Banking and Financials Stocks gaining for last few days.
Cement stocks like Ultra Tech Cement , Ambuja Cement, Grasim , Shree Cement , Dalmia Bharat , Ramco Cement are likely to continue their strength in the coming days.
Pharma stocks like Glenmark Pharma, 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 ICICI Bank, Federal Bank, Kotak Bank, Indusind Bank, Axis Bank, HDFC Bank will look to move further up.
NBFC’S – Bajaj Finance , PEL, Bajaj Finserve, Shriram Transport Finance will looking to move upwards as the bulls take control of the fridays trading session.
The I.T Majors like Wipro, TCS, Infosys, L& T Infotech, are Likely to gain if the global markets remain positive.
Also Tata Motors, Ashok Leyland, Maruti, Gujarat Pipavav, are expected to regain the positive up move in the near term.
The general Sentiments in the market seemed to have turned Bullish with traders.
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: PEL,Bajaj Finance, HDFC LTD, Mahindra and Mahindra financial , India bulls housing Finance.
# 5 Pharma Stocks: Glenmark Pharma, Dr Reddy’s , Lupin, Divi’s Lab, Sun Pharma,.
#5 Information Technology Stocks: Wipro, Coforge, Infosys, HCL TECH, 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!
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Cheerful Trading !!
