The Fridays trading session in the Indian equity markets was a day of relative volatility with a late afternoon sell off.
The markets opened flat and move upwards but then some selling pressure came in the last half an hour did drag the Nifty downwards.
The Markets on the last day of trading week finally closed slightly negative with the BSE index ended at 47,878 (-202) while the Nifty closed at 14,341 (-64).
Amongst the Stocks that gained were Indusind Bank, Axis Bank, PowerGrid, NTPC, HDFC and Asian Paints.
M&M Dr Reddy's Bharti Airtel, Tech Mahindra, HUL, ICICI Bank and Infosys were the major losers on Fridays Trade.
The late afternoon sell off came in the fear of the Equity markets being under pressure on Monday. Last couple of Mondays the markets have fallen 400 nifty points. This was mainly due to concerns over the economic impact of the second wave of COVID-19 pandemic in the country.
FPIs have remained net sellers this week with the rupee sustaining at 75 levels against the dollar.
The Market participants were clearly concerned with the continued surge in second wave of COVID-19 cases in the country.
On the Positive side were the government’s strong effort to expedite vaccination progress.
Overall,the market has fallen for the second consecutive week over the worries regarding the covid related economic concerns.
The weakness in the Indian Rupee against the United States Dollar has also acted as a negative for the markets sentiments.
All sectors except pharma and Metals ,has witnessed selling pressure during the last week.
For the coming week, most analysts expect markets to be volatile. Stock Specific action on the basis of results can be seen during the coming week.
The U.S. Markets closed on Friday with strong positive cues.The Dow Jones closed in at 34,043( +227), S&P at 4180(+45) whereas NASDAQ closed in at 14017 (+198).The U S markets are making Daily highs for all the indices.
For the coming week, most analysts believe that Indian markets will be volatile.
The rising corona cases being negative while the positive quarterly results outlook for most companies will keep the bulls in the game.
The positive global cues will be a relief for the bulls. If the FII’s resume to buy in a big way, It will help the indian equity markets in a big way to move upwards.
The Foreign institutional investors sold on Friday Rs 1360 Crores whereas Domestic institutional investors bought Rs 1695 Crores.
FII’s Resuming to buy and continuing to buy in the coming week will take the markets upwards towards 14500-14600 Nifty levels..
Most experts expect the indices to continue to be volatile for the coming few days .
There seems to be a possibility of the Pharma & I.T. doing really good whereas banking and financial sector will be under pressure.
The private banks like Icici Bank, Federal Bank, Indusind Bank, Kotak Bank, HDFC Bank are under pressure due to the second wave of corana virus and related uncertainty.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda did see some strength on friday and can be accumulated on dips 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.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, and HCL Tech are looking to move upwards after a mixed week.
Also Tata Motors, Ashok Leyland are expected to regain the positive up move in the near term.
Cement stocks like Grasim , ACC, Ultratech Cement, Ambuja Cement, Grasim, Shree Cement, Dalmia Bharat, Ramco Cement are likely to show strength.
All the Pharma stocks like Cadila, Cipla, Glenmark Pharma, Dr Reddy’s, Lupin, Divi’s Lab, and Sun Pharma are expected to do good in the near term.
The general Sentiments in the market seemed to have turned positive for Pharma Sector .
The stocks to keep an eye on in the Indian equity markets will be the Pharma Sector , I.T Sector, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: ICICI BANK , HDFC Bank, Rbl Bank, Indusind Bank, Kotak Bank.
#5 NBFC Stocks: PEL, Bajaj Finserve, IBull Housing, Shriram Transport, Bajaj Finance.
# 5 Pharma Stocks: Suven Pharma, Cadila , Sun Pharma, Cipla, DrReddy’s.
#5 Information Technology Stocks: Wipro, TCS, HCL TECH, Co- Forge , LTTS.
#10 Other Main Stocks to watch out for on this Monday Morning in the Indian Equity Markets:
Pidilite, Seimens , Ultra Tech Cement, LIC Housing Finance , LT infotech, Escorts,M&M Financial, Graphite, Adani Port, Adani Power.
After a consolidation day of trading on Friday, the view in the Indian equity Markets is that the indian equity markets will be volatile on monday.
The positive cues from the US Markets will emboldened the Bulls to take the markets towards 14500 Nifty levels. On the other hand the corona related negatives will keep the bears in play to pull down the indices.
Expert Ansul Jain-
26TH APRIL Stock Picks —Pidilite, Seimens , Ultra Tech Cement.
( Watch YouTube Video Analysis here–https://youtu.be/OAo_pD7Jgjs)
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 !!
