The Indian Equity Markets opened gap up in the early morning session.Then the Nifty did slide marginally lower during the day.
The Nifty bounced back strongly towards the end to close at an all-time high closing ever on Thursday expiry trading day.
Titan, ONGC, L&T, Kotak Bank, Axis Bank, Bajaj Finance, and HDFC Bank were the gainers on Thursday's expiry day session.
IndusInd Bank, PowerGrid, Bajaj Auto, M&M and Dr Reddy's were among the Losers in a day of trading in a very narrow range.
Finally at Closing Bell, the Nifty ended at 15,690(+114) whereas the Sensex ened at 52,232(+382).
The financial stocks did show good strength throughout the day The Realty, FMCG, and metals Sectors too contributed positively in Thursday’s expiry day highest every closing
Some of the IT, pharma, and auto Stocks did see some weakness. The action in midcap and small-cap stocks continued from the last few days of trading.
This is the Highest every closing for Nifty in the Indian equity markets.
Most analysts are of the view a declining trend in COVID-19 cases in the country has shored up investor confidence.
The Foreign institutional investors bought on Thursday Rs 1079 Crores whereas Domestic institutional investors sold Rs 278 Crores.
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 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 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 Wipro, TCS, Infosys, L& T Infotech, are Likely to gain if the global markets remain positive.
Also Tata Motors, Ashok Leyland, Maruti, are expected to regain the positive up move in the near term.
The general Sentiments in the market seemed to have turned Bullish.
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: 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: Wipro, Coforge, Infosys, Mastek, 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!
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 !!
