The Indian Equity Markets opened in the positive zone and then was sideways before closing flat towards the closing.
Maruti was the top gainer in the Sensex pack, rallying over 6 percent, followed by M&M, Bajaj Auto, NTPC, Reliance Industries, and HDFC Bank.
On the other hand, HCL Tech, Tech Mahindra, Bajaj Finserv, and Infosys were among the laggards.
After starting the day in the positive zone, the nifty did trade sideways and finally ended at the closing bell at 17855(+1) levels whereas the Sensex closed at 60,077 (+29).
The Indian equities traded range-bound amid positive cues from global equities.
The Heavy profit-booking in IT and pharma nullified the impact of a sharp recovery in auto stocks.
Further, financials and realty indices extended gains.
It was seen that the Nifty IT fell over 2.5 per cent as investors preferred to book some amount of profit ahead of September quarter earnings.
Auto stocks witnessed a strong rebound as continued underperformance for the last couple of months, expectations of improvement in demand scenario from October did help. Also, the positive commentary from select companies about the semiconductor issues made investors buy quality names in OEMs.
Most Analysts believe that the Indian markets can continue its upwards move, if well supported by the positive global set-up on Monday in the U.S Markets.
The Foreign institutional investors Bought Rs442 Crores whereas Domestic institutional investors sold Rs 515 Crores.
Most experts believe that the Indian equity markets can continue to move upwards when the FII's resume buying in a big way and move towards the all-time high during this week.
There seems to be a possibility of the Banking Sector, Metals, Pharma, Power, and the defensive stocks doing well in the coming days.
Financials & Private banks like HDFC Bank, Federal Bank, Axis Bank, Icici Bank, Bandhan Bank, Indusind Bank, Kotak Bank, will look to move upwards from Monday's Trade.
PSU banks especially SBI will be in focus once the Bank Nifty starts to move upwards.
NBFC’S – PEL, Bajaj Twins, Shriram Transport Finance will give a good opportunity to buy on dips.
I.T Stocks like TCS, Mphasis, HCL TECH, Infosys, LTTS, LTI, Wipro, Tech Mahindra, Mastek are looking to bounce back from Monday's weakness and good gains can be made in the coming days.
Major I.T. Companies can be accumulated for a decent upside as the investors and traders are keen to buy them.
Pharma stocks like DrReddy's, Divi’s Lab, Cipla, and Sun Pharma are expected to do bounce back from hereon.
The stocks to keep an eye on in the Indian equity markets will be the I.T. Sector, Power Sector, Banking Sector, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: Axis Bank, Kotak Bank, Icici Bank, HDFC Bank, Federal Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, IBull Housing, Bajaj Finserve, IDFC LTD.
# 5 Pharma Stocks: Divi’s Lab, Glenmark Pharma, Sun Pharma, Lauras Labs, Granules.
#5 Information Technology Stocks: Mphasis, HCL TECH, Co- Forge, Infosys, LT Infotech.
#10 Other Main Stocks to watch out for on this Tuesday Morning in the Indian Equity Markets:
Sonata Software, Exide, Aarti Surfactants, BF Investments, SRF, Tata Motors, Chola Finance, ISGEC Heavy Engineering, Deepak Nitrate, RBL Bank.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain- —
28th September Stock Picks–– Bajaj Finance, Tata Steel.
Watch YouTube Video Analysis here –https://youtu.be/FD0Fdcb38BM
The view is that for the Indian equity Markets the bulls will need strong buying from Fii’s to move upwards of18000 Nifty Levels.
INDIAN EQUITY MARKETS THIS TUESDAY MORNING!
