After starting the day in the positive zone in the Indian equity markets, The nifty did trade in consolidation mode for some time before gaining strength and finally the day at the closing bell at 17353(+8) levels whereas the Sensex closed at 58,250 (-29).
Kotak Bank, Titan, NTPC, and Sun Pharma were among the top gainers in trade in the Indian equity markets on Wednesday.
Nestle Maruti, Bajaj Finserv, Bajaj Auto, TCS, and L&T were the top losers in trade on Wednesday.
Equity benchmarks Sensex and Nifty ended marginally lower on Wednesday,
Most Analysts feel that Indian equity markets witnessed modest contraction mainly led by profit booking in IT and auto stocks. Also, the weak cues from global equities also weighed on investors' sentiment
Textile stocks were in focus as the government approved a production-linked incentive (PLI) scheme worth Rs 10,683 crore for the sector.
Buying was seen in midcap and smallcap stocks as a recent contraction in this space made the risk-reward proposition favorable for a number of stocks.
The Market Experts feel that the Bulls will make a strong attempt to scale towards 17800 and higher for the September series.
The foreign institutional investors Sold on Wednesday Rs 802 Crores whereas Domestic institutional investors Bought Rs 0.60 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 17600 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.
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 like HDFC Bank, ICICI Bank, Axis Bank, Bandhan Bank, 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, 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: HDFC Bank, Indusind Bank, Icici Bank, Federal Bank, Canara Bank.
#5 NBFC Stocks: Bajaj Finance, Shriram Transport, India Bulls Housing Finance, HDFC LTD, PEL.
# 5 Pharma Stocks: Granules, Divi’s Lab, 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:
Aster DM, Emkay Global, ISGEC Heavy Engineering, Hinduja Global Solution, 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-
9TH September Stock Picks —Axis Bank, Indian Bulls Real Estate.
( Watch YouTube Video Analysis here – https://youtu.be/9hMXUf7424M
After a consolidating day of trading on Tuesday, 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!
