The Stock Market in India was positively trending trading day on Thursday's expiry closing. The Indian stock market opened in Green and then started to gain further strength to close strongly towards the closing bell.
Titan, M&M, Maruti, IndusInd Bank, Asian Paints, Sun Pharma, HCL, TCS, Tech Mahindra, and ICICI Bank were the main gainers in trade on Thursday.
On the other hand, Dr. Reddy's, HDFC, Bajaj Finserv, Nestle India, and HUL were among the losers in trade.
After starting the day in the positive zone, the bulls did manage to hold to the gains and Nifty finally end at the closing bell at 17790(+144) levels whereas the Sensex closed at 59,677 (+488)
The Bulls manage to step up the accelerator ahead of the RBI policy, led by the auto Index which was up 4.5 percent in afternoon trade.
The festive season commencing was a positive trigger for the textiles, consumer durables, and real estate stocks.
The IT Index lent good support ahead of earnings starting on Friday. Most experts believe that While the street would be keen to watch the RBI stance tomorrow, the market breadth was very good with the small and midcap indices buzzing with optimism.
The Foreign Institutional Investors Sold Rs.1765 Crores on Thursday, whereas Domestic Institutional Investors bought Rs 2528 Crores.
The FII’s buying in a big way will definitely help the up move in the markets. Most analysts are expecting the markets to now trend upwards to 18000 Nifty levels in the October series 2021.
Most experts expect that if FII’S buying continues, the indices will go upwards in the coming few days.
There seems to be a possibility of the banking and financial sector bouncing back strongly to higher levels. The I.T, Metals & Chemicals Sector also will be keenly watched by the traders.
NBFC’S – Bajaj Finance, Mahindra and Mahindra Financial Services, PEL, Bajaj fin serve, Shriram Transport Finance will be under the radar of the traders.
Private banks like HDFC Bank, ICICI Bank, Axis Bank, Bandhan Bank, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
The I.T Stocks like Ltts, Mphasis, TCS, HCL TECH, Tech Mahindra, Co-forge, and Mastek are likely to move up quickly in the coming days.
Pharma stocks like Sun Pharma, Wockhardt, Cadila, Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be volatile in the Indian equity markets. The traders will be looking for global cues for direction in the coming days.
The stocks to keep an eye on in the Indian equity markets will be the Banking and Financial Sector, PSU sector, I.T., OMC, Chemicals Sector, Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Axis Bank, Kotak Bank, Icici Bank, Federal Bank, Canara Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, Bajaj Finserve, India Bulls Housing Finance, HDFC LTD.
# 5 Pharma Stocks: Dr. Reddy's, Divi’s Lab, Cadila, Glenmark Pharma, Sun Pharma.
#5 Information Technology Stocks: Mphasis, LTI, LTTS, Mastek, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
RBL Bank, Tata Steel, Gabriel India, Deepak Nitrate, Bandhan Bank, Bank of Baroda, Gujarat Alkalies, Aarti Surfactants, Persistent System, LTTS.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
8th October Picks — JSW Steel, PFC, RELIANCE, SBIN
Watch YouTube Video Analysis here – https://youtu.be/xYfMqu9x6Ao
Cheerful Trading !!
