It has been the sixth day in a row since the Benchmark Indices of the Indian Stock Market is pushing towards the record high level. But will the market be seen in Green today?
On Monday morning, all the Indices opened in green and continued to show strength.
The other sectoral Indices except from FMCG & PSU Bank ended on a green note. While Nifty Auto & Metal Indices took a jump by 3% each. The M&M, Hindalco, Tata Motors, Shree Cements, JSW Steel were the top Gainers in the Monday Market. Mahindra & Mahindra jumped over 7% after the auto major reported a massive 39.6% year-on-year growth. Ashoka Buildcon added 2% after the company reported a consolidated profit of Rs. 88.4 crore in Q3 FY21.
The NMDC, Majesco, Torrent Pharma, Jindal Stainless (Hisar), Redington India, Sun TV Network are a several stocks that were in the news from Monday’s Stock Market In India.
The Indian Equity Markets finally ended towards the higher end with Nifty closing at 15115.80 (+191.50) Sensex closing at 51,348.77 (+617.14) and Bank Nifty at 35983 (+329.20). Eventually, it seems the Market right now is a phase for the participants to book profits, and if you are on the urge to Buy the stocks, it is recommended to watch our Charts Pe Charcha session to get a fair trade in your pocket.
Most experts expect the indices to consolidate and eventually move upwards level in the near term. They expect some volatility during the days and expect the dips.
Since there are a several stock announcing their quarterly earnings today so it is expected a decent movement in the Stock Market Today. A few of them are Tata Steel, Adani Ports and special Economic Zone, Berger Paints India, Burger King India. Additionally, the Auto and the I.T.Sectors are very much anticipated to take the Stock Market to much higher levels from now on.
Sector rotation is happening with the Auto sector gaining first, and then the banking and now the I.T.Sector stocks seem to be at attractive valuations for a swift move upwards.
The Foreign institutional investors bought on Monday nearly Rs 1876.60 Crores whereas Domestic institutional investors sold Rs 504.86 Crores.
The U.S. Markets closed positively on Monday with Dow Jones closing at 31,386 (+238), S&P closing at 3916 (+29), and NASDAQ closing at 13988 (+131).
For the coming week, most analysts believe that Indian markets will keep trading higher above 15500 Nifty levels unless there are sudden negative global cues.
Pharma stocks like Divi’s Lab saw a negative fall on Monday. But, Dr. Reddy’s, Sun Pharma, Cadila is showing strength and can be expected to gain further from here on the back of excellent results.
Cement stocks like UltraTech Cement, ACC, and Grasim is expected to continue with positive gains in the coming days for this week.
SBI, Canara Bank, Bank of Baroda, PNB, IndusInd Bank, Axis Bank, ICICI Bank, HDFC Bank, Federal Bank will continue to be in limelight and expected to do well this week too.
The Momentum is shifting towards PSU banks in the banking sector with big upgrades & buy recommendations coming in for SBI from most brokerages.
The Insurance sector Stocks like ICICI Prudential & SBI Life Insurance will be looking to gain some momentum along with the banking sector.
NBFC’S – Bajaj Twins, Shriram Transport Finance too will look go up after the strength shown on last week’s trading.
Tech Mahindra, Infosys, TCS, HCL Tech, will be in focus on Monday as they have underperformed in the last week and can be expected to go up anytime during this week.
Also, Maruti, Bharat Forge, Tata Motors, Ashok Leyland, PEL, Adani Enterprise, Adani Port, is expected to be keenly watched by the traders. The prices of some of these stocks have corrected during the last few days and most analysts expect them to rebounce to higher levels.
The general sentiments in the market seem to have turned Bullish and the traders seem to buy every dips during the day.
The Pharma Sector, Banking & NBFC Sector, PSU Banks, Auto Sector, I.T Stocks, FMCG Stocks, and Cement sector Stocks will be the ones to be followed on Monday.
# 5 Pharma Stocks: Divi’s Lab, Dr Reddy’s, Lupin, Cadila, Cipla.
#5 Information Technology Stocks: Tech Mahindra, Infosys, TCS, L&T Technology, HCL Technology.
# 5 Banking Stocks: Axis Bank, Indusind Bank, HDFC Bank, ICICI Bank, Bank of Baroda.
#5 NBFC Stocks: Bajaj Finance, Bajaj Fin serves, HDFC Ltd, Shriram Transport, and Chola Finance.
#10 Other Main Stocks to watch out for on this Friday Morning in the Indian Equity Markets
Bharti Airtel, Indusind Bank, M&M & Tata Steel, Maruti, Reliance, Tata Motors, Ashok Leyland, Adani Port, Grasim.
Analysts are guiding a super week for the Indian equity markets on the basis of favorable sentiment aftermath of the Historic Budget.
All are expecting the Nifty to finally reach 15500 levels sooner than later.
#Stocks to Watch for Trading from LakshmiShree in-house Technical Expert Ansul Jain-
8th February Picks— Bajaj Finserv, Bata India, Coforge, HDFC AMC
(Watch YouTube Video Analysis here –https://www.youtube.com/watch?v=TIo8wf-9nPk)
Positive momentum is to be expected from the Stock Market In India. To know more about Stock Market you can Sign Up with Lakshmishree Investment & Securities Pvt Ltd.
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