After starting the day in the positive zone in the Indian equity markets, The nifty did trade in a tight range and finally ended the day at the closing bell marginally down.
HDFC, Kotak Bank, Asian Paints, UltraTech Cement, HDFC Bank, HUL, and Tech Mahindra were the main losers in trade on Wednesday.
On the other hand, NTPC, PowerGrid, Sun Pharma, SBI, and Titan were among the gainers.
After starting the day in the positive zone, the nifty did slide down a little before finally ending at the closing bell at 17711(-37) levels whereas the Sensex closed at 59,413 (-254).
On Wednesday, the Indian equity markets saw a strong rebound in metal, pharma, and PSU banks. The surge in the benchmark US 10-year yield to 1.5 percent spooked global equity markets, with US benchmarks witnessing cuts of above 2 percent in S&P 500 and Nasdaq in the previous session.
The foreign institutional investors Sold on Wednesday Rs1957 Crores whereas Domestic institutional investors Bought Rs 161 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 17800 nifty levels in the Sept Series.
Most experts expect that if FII’S buying continues, the indices will go upwards in the coming few days.
Stocks to watch out for this Thursday Morning in the Indian Equity Markets
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.
Private banks and PSU banks like ICICI Bank, Axis Bank, Canara Bank, Bank of Baroda, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
NBFC’S – Bajaj Finance, Mahindra and Mahindra Financial Services, PEL, Bajaj fin serve, Shriram Transport Finance will be under the radar of the traders.
The I.T majors like Infosys, Wipro, Mphasis, TCS, HCL TECH, Tech Mahindra, Co-forge, and Mastek are likely to move up quickly in the coming days.
The other I.T. Stocks like LT Infotech, Intellect Design, LTTS, Sonata Software also can be observed for an upwards move 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 positive 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: Bank of Baroda, Canara Bank, Indusind Bank, Icici Bank, Federal Bank.
#5 NBFC Stocks: Bajaj Finance, Shriram Transport, India Bulls Housing Finance, HDFC LTD, PEL.
# 5 Pharma Stocks: Dr. Reddy's, Granules, 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 Thursday Morning in the Indian Equity Markets:
VSSL, TATA STEEL, SRF, IDFC LTD, Gabriel India, Bandhan Bank, Godrej agro vet, Bank of Baroda, Gujarat Alkalies, Aarti Surfactants.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
29th September Stock Picks — Adani Ports, Tata Steel.
( Watch YouTube Video Analysis here – https://youtu.be/nrjEcaQKOK8
After a consolidating day of trading on Wednesday, the view is that the Indian equity markets will go higher from here on in the September Series.
Most Analysts expect the markets to reach 17800 plus levels for the near term
Best wishes for a Profitable Thursday in the Indian equity markets!
INDIAN EQUITY MARKETS THIS THURSDAY MORNING!
Best wishes for a Cheerful Thursday in the Indian equity markets!
