The Thursday’s Expiry Trading in the Indian equity markets was a Steady Session with Markets showing strength through out the day.
The markets opened gap up and did try to regain some momentum towards 15000. The Second half of trading gave up some of the gains.
UltraTech Cement along with Titan, Tech Mahindra, Nestle India, TCS, Bajaj Finserv , L&T were the major gainers in the weekly expiry trading session.
On the losing side was IndusInd Bank, ONGC, Sun Pharma, HDFC Bank and Axis Bank.
One can say that the Thursdays trading in the Indian equity markets was of consolidation .The first half of the day the stocks traded strictly in a range while the metal and I.T stocks made solid gains.
Post afternoon saw little volatility with some of the stocks coming down due to expiry related trading.
Banking and Financial stocks witnessed profit-booking ,while most of Major sectoral indices traded in the positive with I.T & Metal stocks doing exceedingly well.
Finally at closing bell on the Thursday expiry session , the Sensex closed at 49,746 whereas Nifty closed strongly at 14,873.
Today evenings US Markets closing will be keenly watched by the bulls and the bears to decide the direction of the market in the next few days.
The Foreign institutional investors bought on Thursday Rs 110 Crores whereas Domestic institutional investors bought Rs 552 Crores.
FII’s buying will be a key factor going forward in deciding the direction for the Indian equity markets.
The U.S. Markets closed on Thursday with positive cues as Dow Jones closed in at 33,507(+54) , S&P at 4097 (+17 ) whereas NASDAQ closed in at 13,829 (+140).
Most experts expect the indices to continue to be an upward trending marker for the coming few days.
Normally most traders look to book profits on the last day of the week and go with fewer trades for the next week.
There seems to be Sector rotation happening with the cement sector coming into the limelight on Thursday.
Cement stocks like Ultra Tech Cement , Ambuja Cement, Grasim , Shree Cement , Dalmia Bharat , Ramco Cement are likely to continue their strength on friday.
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 Federal Bank, Indusind Bank, Axis Bank, Kotak Bank, HDFC Bank will look to consolidate and move further up from the Thursday’s session.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda are well set for decent gains in near future.
NBFC’S – Mahindra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance will under the radar of the traders if the global markets are in positive territory on Friday morning.
With the upcoming Good I.T. Results and Weakening Indian Rupee , The I.T Majors like TCS ,Infosys, Tech Mahindra, HCL Tech , Wipro are Likely to gain.
Also Tata Motors, Ashok Leyland, Gujarat Pipavav, are expected to regain the positive up move in the near term.
The general Sentiments in the market seemed to have turned positive with traders awaiting global cues to take a call on which way the markets may move in the near term.
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Federal Bank, Icici Bank, RBL Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, HDFC LTD, Mahindra and Mahindra financial, Shriram Transport.
# 5 Pharma Stocks: Dr Reddy’s ,Lupin, Divi’s Lab ,Cadila,Sun Pharma,.
#5 Information Technology Stocks: TCS, Infosys, Wipro, HCL TECH, Tech Mahindra.
#10 Other Main Stocks to watch out for on this Wednesday Morning in the Indian Equity Markets:
Bajaj Finance , Tata Power, M&M Finance , PNB, Deepak Nitrate, Graphite, Gujarat Pipavav, Reliance, Tata Motors , Ashok Leyland .
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
(Watch YouTube Video Analysis here –https://youtu.be/DxxcyXtlo18 )
After a relatively positive trading day on Thursday, the view is that the Indian equity Markets will be looking to consolidate and look to Global cues to decide on the near term direction.
The positive cues from the US Markets will emboldened the Bulls to take the markets towards 15200-15300 levels…
Most Analysts expect the markets to reach new highs in this March expiry
Best wishes for a Profitable Friday in the Indian equity markets!
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