After starting the day in the negative zone in the Indian equity markets, The nifty did trade in a lower amid intense selling pressure to finally end the day at the closing bell in the negative.
Titan, HUL, NTPC, Bajaj Finserv, L&T, and PowerGrid were the main losers in trade on a day of high volatility in the Indian equity markets for the 2nd consecutive day.
On the other hand, Bharti Airtel, SBI, IndusInd Bank, Bajaj Finance, and Axis Bank were among the gainers.
After starting the day in the negative zone, the volatility did increase lots with ups n downs happening frequently throughout the day. The Indian equity markets finally ended in negative zone with Nifty finally ending at the closing bell at 18266(-152) levels whereas the Sensex closed at 61,259(-456)
According to Market experts, the Indian equity markets corrected quite meaningfully led by the expensive side of the market where valuations had got stretched.
Almost all sectoral indices ended in the red although PSU banks were seen bucking the trend with investors cherry-picking for value in that pocket.
The foreign institutional investors Sold on Wednesday Rs 1843 Crores whereas Domestic institutional investors sold Rs 1680 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 18500-18600 nifty levels in the October 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 Banking, I.T stocks will be keenly watched by the traders.
NBFC’S – Bajaj Finance, Mahindra and Mahindra Financial Services, PEL, Bajaj fin serve, Shriram Transport Finance will be under the radar of the traders.
Private banks and PSU banks like Axis Bank, Canara Bank, Bank of Baroda, Indusind Bank, Kotak Bank, Federal Bank, will look to scale higher from hereon.
The I.T majors like Infosys, Wipro, Mphasis, TCS, HCL TECH, Tech Mahindra, Co-forge, 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, Cadila, Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be mixed in the Indian equity markets on account of selling pressure at higher levels.
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:
IDBI Bank, IDFC LTD, Indusind Bank, PEL, Bank of Baroda, Gujarat Alkalies, Reliance, Infosys, Tata Motors, Ashok Leyland. .
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
Pre Market Analysis--( Watch YouTube Video Analysis here –
After a weak day of trading on Wednesday, the view is that the Indian equity markets will go higher from here on in the October Series..
Most Analysts expect the markets to reach 18500 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!
