After starting the day in the positive zone in the Indian equity markets, The nifty did trade in a lower amid Fii Selling and finally ended the day at the closing bell in the negative.
Axis Bank, Bajaj Finance, Bajaj Finserv, IndusInd Bank, HUL, and Tata Steel were the main losers in trade.
On the other hand, Asian Paints, Sun Pharma, Infosys, SBI, and UltraTech Cement were among the gainers.
After starting the day in a slightly positive zone, the volatility did increase lots with ups n downs happening frequently throughout the day . The Indian equity markets finally ended in a negative zone with Nifty finally ending at the closing bell at 18210(-57) levels whereas the Sensex closed at 61,143(-206).
Markets traded on a lacklustre note, tracking mixed cues.
Initially, weak Asian markets were weighing on the sentiments and mixed trends across sectors kept the participants guessing as the session progressed. A sharp dip in select index majors from banking, metal, and energy sectors pushed the benchmark lower in the final hour.
The foreign institutional investors Sold on Wednesday Rs 1903 Crores whereas Domestic institutional investors sold Rs 472 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 18400-500 nifty levels in the near term.
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.
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 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, 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, Cadila, Glenmark Pharma, Lupin, Divi’s Lab, Dr. Reddy’s, SPARC, are expected to do well.
The general Sentiments continue to be bearish in the Indian equity markets on account of global weakness. 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:
SBI LIFE, SRF, FINE organics, Laxmi organics, IDFC LTD, Gabriel India, Bandhan Bank, Bank of Baroda, Gujarat Alkalies, Aarti Surfactants.
# Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-BSE, ADANI GREEN
Pre Market Analysis--( Watch YouTube Video Analysis here –https://youtu.be/1b46t7qm3LM
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 expiry if global markets regain the bullishness and fii start to buy.
Most Analysts expect the markets to reach 18400-18500 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!
