The Mondays trading session in the Indian equity markets was a subdued trading day with indices moving in a tight range. The markets opened flat and gap down marginally and then gradually started to move upwards towards 14750 levels .
The banks and financials came under selling pressure and most of the financials closed in the red.
The I.T Sector and Pharma showed some strength in todays trading session..
Finally at the closing bell, the NIFTY closed below 15000 levels at 14736 levels (-7), the Sensex at 49771(-87) and the bank nifty closed at 33606(-558).
Among sectors, Nifty IT, metal, pharma and FMCG indices gained 1 percent each, whereas Nifty Bank and PSU bank index did lose a percent each. BSE midcap and smallcap indices rose 0.7-1 percent.
IndusInd Bank was the top loser in the Sensex pack, shedding around 4 per cent, followed by PowerGrid, ICICI Bank, HDFC Bank, Axis Bank and Bajaj Finance.
However, strong buying was seen in IT, FMCG and pharma space, while financials and automobiles witnessed selling pressure.
Tech Mahindra, TCS, Sun Pharma, Infosys and HCL Tech were among the gainers.
Most experts believe that the Nifty has to decisively move above 14,788 to break the consolidation range.
To sum up, A positive closing in the U.S. Markets will help the Indian equity markets to gain further momentum and overcome the consolidation phase in the markets right now.
The Foreign institutional investors sold on Friday Rs 786 Crores whereas Domestic institutional investors bought Rs 542 Crores.
The U.S. Markets closed on Friday with strong positive cues as Dow Jones closed in at 32,731( +103 ) , S&P at 3940 (+27) whereas NASDAQ closed in at 13337 (+162).
The SGX Nifty indicate a Gap up opening of nearly 100 points on early morning trading session.
Most experts expect the indices to continue to be in consolidation mode for the coming few days with the downward movement happening only if the US Markets come under selling pressure and FII’s don’t continue buying.
There seems to be a possibility of the banking and financial sector bouncing bank from the lows of Mondays Trade.
Private banks like Axis Bank, Icici Bank, Federal Bank, Indusind Bank, Kotak Bank, HDFC Bank will look to consolidate and move further up from Monday’s lows.
PSU Banks like Canara Bank, Karnataka Bank; Bank of Baroda did see some corrections and can be accumulated for decent gains in near future.
NBFC’S – Mahindra and Mahindra Financial Services, PEL, Bajaj Twins, Shriram Transport Finance will under the radar of the traders.
The I.T Majors like Wipro, TCS, Infosys, Tech Mahindra, and HCL Tech are looking strong and these stocks can move up quickly after a period of consolidation.
Also Tata Motors, Ashok Leyland, Gujarat Pipavav, had a subdued couple of days and they are expected to regain the positive up move in the near term.
Cement stocks like Ambuja Cement, Grasim , Shree Cement , Dalmia Bharat ,Ramco Cement are likely to show strength as the broader market looks to maintain the upwards momentum from Thursday’s session.
Pharma stocks like Dr Reddy’s, Lupin, Divi’s Lab, Cipla, Sun Pharma, and Cadila are expected to do good in the near term.
The stocks to keep an eye on in the Indian equity markets will be the I.T Sector, Banking Sector, NBFC Sector , Pharma Stocks, FMCG Stocks, and Cement sector Stocks.
# 5 Banking Stocks: RBL Bank, Indusind Bank, Axis Bank, HDFC Bank, ICICI Bank, Federal Bank.
#5 NBFC Stocks: PEL, Bajaj Finance, HDFC LTD, IBull Housing, Shriram Transport.
# 5 Pharma Stocks: Cadila , Cipla, DrReddy’s, Divi’s Lab, Lupin.
#5 Information Technology Stocks: Wipro , Tech Mahindra , TCS, HCL TECH, Co- Forge.
#10 Other Main Stocks to watch out for on this Tuesday Morning in the Indian Equity Markets:
L&T, SBI ,Reliance, Tata Power, Tata Motors , Deepak Nitrate, Graphite, Mahindra and Mahindra, Adani Port, Adani Power.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
23 rd March Stock Picks — L&T , Maruti , SBI , Tata Motors .
( Watch YouTube Video Analysis here – https://youtu.be/OKnZsXU34HA )
The SGX Nifty indicate a Gap up opening of nearly 100 points on early morning trading session.
After a flat trading day on Monday, the view is that for the Indian equity Markets the bulls will need strong buying from Fii’s to resume for it to decisively cross the 15300-400 Nifty levels this week.
Most Analysts expect the markets to reach new highs in this March expiry.
INDIAN EQUITY MARKETS THIS TUESDAY MORNING!
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Cheerful Trading !!
