The Indian Equity Markets opened slightly in the green in the early morning session on Thursday's expiry day trading.
Tata Steel, Sun Pharma, ICICI Bank, SBI, Kotak Bank, and Dr. Reddy were the main losers in a day of volatile Thursday expiry.
On the other hand, Tech Mahindra, Bajaj Auto, PowerGrid, HCL Tech and NTPC were among the stocks that managed to close in the green.
After starting the day in positive zone, The Indian equity markets quickly started to come down on weak global cues regarding the corona Delta variant fears and Hawkish comments from the US Fed.
Finally the Nifty closed in deep red at 15,879( -151 ) whereas the Sensex closed weakly at 52,568(-485).
Selling pressure was visible across the sectors amid high volatility throughout the trading day on Thursdays weekly expiry.
Most analysts believe Strong TCS results may act as a trigger for the Fridays trading session.
The Foreign institutional investors Sold on Thursday Rs 554 Crores whereas Domestic institutional investors Sold Rs 949 Crores.
Most experts expect the indices to continue to be side ways trending on the last trading day of the week.
The Global cues will be important trigger for the markets apart from the good results from TCS on thursday evening.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 I.T Sector, Banking, and Financials Stocks looking to move upwards in the near term.
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 HDFC BANK, Bandhan Bank , Rbl, ICICI Bank, Federal Bank, Kotak Bank, Axis 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, LTTS, Tech Mahindra, L& T Infotech, Mastek are Likely to gain on the back of good TCS Results.
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.
# 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:
Equitas Holding, Gujarat Alkalies, ISGEC Heavy Engineering, Deepak Nitrate, Bajaj Finserve, Bandhan Bank, Coforge, Mahindra & Mahindra, LTI, NIIT.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
After a relatively weak 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 negative Cues from the US Markets on Thursday's closing will impact 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 !!
