The Indian Equity Markets opened in the green in the early morning session on Thursday's expiry day trading and then did move upwards down during the Day. Towards the Closing bell, the Indian equity markets were strong on Thursday's weekly expiry.
After starting the day in the positive zone on the back of strong US Markets closing, the Nifty did move upwards to trade around 15800 levels for a long time. Then towards closing, the nifty ended strongly at 15778 (+69) whereas the Sensex closed at 52653 (+209).
Tata Steel, Bajaj Finserv, SBI, HCL Tech, Sun Pharma, Bajaj Finance, and Reliance Industries were the main gainers in trade on July Monthly expiry.
On the other hand, Maruti, PowerGrid, Bajaj Auto, and ITC were among the losers in trade.
Most analysts feel that the Domestic equities recovered as positive global cues and strong buying in metal and IT stocks supported markets.
It was also observed that the short-covering in select heavyweights also aided rebound. The Auto sector, FMCG, and pharma remained slightly weak, whereas the other most key sectoral indices traded in the green.
Most experts expect the indices to continue to trade upwards on the last trading day of the week.
The Global cues will be an important trigger for the markets apart from the good results from the rest of the companies. 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 a volatile trading session on Friday on account of profit booking.
There seems to be Sector rotation happening with I.T Sector, Banking, and Financials Stocks looking to move upwards in the near term.
Pharma stocks like Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
The Banks like Canara Bank, Bank of Baroda, Bandhan Bank, Rbl, ICICI Bank, Federal Bank, Kotak Bank, Axis Bank, will look to move further up.
NBFC’S – Bajaj Finance, IDFC LTD, PEL, Bajaj Finserve, Equitas Holding, India bulls housing finance will be looking to move upwards.
The I.T Majors like Infosys, Wipro, Mphasis, HCL Tech, LTTS, Tech Mahindra, L& T Infotech, Mastek are Likely to gain on the back of good I.T. Sector Results.
The general Sentiments in the market seemed to have turned Bullish for the I.T Sector.
The stocks to keep an eye on in the Indian equity markets will be the Metals, I.T Sector, Financials, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Indusind Bank, Federal Bank, Icici Bank, RBL Bank, Axis Bank.
#5 NBFC Stocks: IDFC LTD, Bajaj Finance, HDFC LTD, Mahindra and Mahindra financial, India bulls Housing Finance, PEL.
# 5 Pharma Stocks: Lupin, Divi’s Lab, Sun Pharma, Cadila, Lauras Labs.
#5 Information Technology Stocks: Mphasis, Mastek, LTI, Wipro, Coforge.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
LTTS, KPIT Tech, Equitas Holding, Cyient, ISGEC Heavy Engineering, Deepak Nitrate, Bajaj Finserve, CCL Products, Mahindra & Mahindra, Tata Coffee.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
After a relatively strong trading day on Thursday, the view is that the Indian equity markets will be looking to move upwards.
Most Analysts believe that the positive Cues from the US Markets on Thursday's closing will give momentum to the trading in the Indian equity markets on Friday.
Best wishes for a Cheerful Friday in the Indian equity markets!
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Cheerful Trading !!
