The Thursday expiry trading in the Indian equity markets started with Nifty opening in the positive zone. Then nifty did trade sideways for some time and closed with a flourish at the closing bell.
TCS, HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr. Reddy's and Titan were the main gainers in trade on a Historic expiry closing in Indian equity markets.
On the other hand, M&M, Bajaj Auto, Bajaj Finserv, and Asian Paints were among the laggards.
After starting the day in the positive zone, The nifty did trade sideways for some time before gaining strength and finally ending strongly towards expiry at the closing bell at Historic levels of 17234(+157) levels whereas the Sensex closed at 57,852
It was seen that the Indian equities recovered sharply mainly aided by a sharp recovery in IT, pharma, and consumer spaces.
It was also a point to note that on Thursday, the Heavyweight financials also extended gains and supported rallies.
Barring PSU banks and automobiles, most key sectoral indices traded in the green.
The Strong buying momentum was seen in midcap and smallcap. The Strong economic indicators for August in the form of GST collection, railway freight, auto sales volume despite semiconductor issues, and fuel volumes did indicate a sustained economic recovery. All these spurred the Indian equity markets to historic levels.
The Foreign institutional investors bought Rs. 348 crores while the Domestic institutional investors bought Rs. 381 crores.
The FII’s resuming to buy in a big way will help the bulls to make a move towards 17600-800 nifty levels soon.
Most experts expect the Indian Stock Market to continue to be upwards with the Friday being expected at 17300-400 Nifty levels.
There seems to be a possibility of the Banking & Financials, I.T., Pharma Sector, going up in the coming days.
HDFC Bank, Icici Bank, Federal Bank, Indusind Bank will move up in case of any positive triggers.
NBFC’S – HDFC Ltd, India Bulls Housing Finance, PEL, Bajaj Twins, Shriram Transport Finance will be under the radar of the traders.
Banks like SBI, Canara Bank, Bank of Baroda can be accumulated in a SIP manner for decent gains in near future.
The I.T Sector delivered better than expected results and this is helping the markets to hold on to the positive sentiments.
Pharma stocks like Sun Pharma, Cadila, Dr. Reddy’s, Lupin, Divi’s Lab, Cipla, are expected to do good in the near term.
The market seemed to be turning Bullish on global cues and the traders will be looking to take nifty upwards to 16500 Levels.
The stocks to keep an eye on in the Indian stock market will be the Banking Sector, I.T Sector, Pharma Sector Stocks.
Keep these stocks under your radar for Trading and investments on Friday
# 5 Banking Stocks: Icici Bank, Federal Bank, HDFC Bank, Indusind Bank, RBL Bank.
#5 NBFC Stocks: HDFC LTD, India Bulls Housing Finance, Bajaj Finserve, Bajaj Finance, PEL.
# 5 Pharma Stocks: Granules, Lupin, Cipla, Dr. Reddy’s, Sun Pharma.
#5 Information Technology Stocks: Mastek, TCS, Mphasis, Infosys, LTTS.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets:
Fine Organics, Laxmi Organics, Granules, Tata Chemical, Deepak Nitrate, JSW Steel, Reliance, Tata Motors, Munjal Auto, Arti Surfactants.
The view in the Indian stock market is that the volatility in the markets will remain.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
3rd August Stock Picks —
Watch YouTube Video Analysis here–
Best wishes for a Cheerful Friday in the Indian stock market!
