The Indian Equity Markets opened down up in the early morning session. Then the Nifty did consolidate in a tight range throughout the trading day and finally ended the day in red on the back of profit booking at higher levels.
Bajaj Finserv, Infosys, Tech Mahindra, UltraTech Cement, and IndusInd Bank were among the main losers in Thursday’s trading session.
On the other hand, Dr Reddy's, Bajaj Auto, Sun Pharma, Asian Paints and NTPC closed in the Green.
The Indian equity markets remained range-bound like the rest of the days of this week.The Auto, pharma and FMCG stocks showed some strength while profit-booking was seen in financials and IT space.
Sector Rotation seems to be happening as investors look to book profit at higher levels.
Good June month numbers from the automobile companies aided auto index to see sharp rebound on Thursday’s expiry day trading.
Finally at Closing Bell on Thursday's volatile trading session, the Nifty ended at 15,680(-41) whereas the Sensex ended at 52,318(-164).
Most Analysts believe that the weak cues from global markets and lack of buying from the FII’s is stopping the Nifty from scaling above 16000 levels.
The Foreign institutional investors Sold on Thursday Rs 1245 Crores whereas Domestic institutional investors bought Rs 880 Crores.
Most experts expect the indices to continue to be side ways trending on the last trading day of the week.
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 on friday.
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 TCS, Infosys, L& T Infotech, Mastek are Likely to gain if the global markets remain positive.
The general Sentiments in the market seemed to have turned sideways.
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.
Maruti, Tata Motors, Ashok Leyland, are expected to regain the positive up move in the near term on the back of strong june auto numbers.
# 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: TCS, Coforge, Infosys, Mastek, LTTS.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
Deepak Nitrate, Graphite, Tata Motors, Ashok Leyland, Motherson Sumi, Maruti, Bajaj Finserve, Bandhan Bank, Coforge, Mahindra & Mahindra.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
After a relatively sideways 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 !!
