Ahead of Market: 10 things that will decide D-Street action on Monday

The Indian stock market swung sharply into the green on Friday, with easing oil prices, a rally in IT stocks and other factors triggering a strong rebound in the Sensex and Nifty and helping them snap an eight-week-long losing streak. The recovery came a day after a sharp selloff in the previous session.

Sensex jumped over 879 points to 72,472 while Nifty 50 gained 289 points to close above the 22,520 level. The sharp gains have added more than Rs 4 lakh crore to the total market capitalisation of all companies listed on BSE, pulling it up to nearly Rs 465 lakh crore.

Here's how analysts read the market pulse


Domestic equities staged a relief rally on Friday, supported by value buying and short covering after the recent sharp correction, said Vinod Nair, Head of Research at Geojit Investments. “IT stocks outperformed on the back of a strong start to the Q2 earnings season and rising confidence in AI-driven revenue opportunities. Sentiment was aided by easing geopolitical concerns following indications that any potential US military action against Iran is unlikely before the midterm elections, helping crude prices moderate.

However, persistent FII outflows and elevated global bond yields continue to temper the recovery outlook. Investors now await domestic CPI data on Monday for further cues on the interest-rate trajectory after the RBI's shift to calibrated tightening. Going forward, actual performance of Q2, which is estimated to be good on a YoY basis, will be critical in determining the sustainability of the market rebound,” he added.

US stocks

US markets ended higher on Friday, with all three major indexes advancing as technology stocks supported sentiment. The S&P 500 gained 0.59% to close at 7,811.54, while the Nasdaq Composite advanced 0.64% to 27,366.17. The Dow Jones Industrial Average climbed 0.83% to 51,654.95.

European markets

European markets closed higher on Friday as easing oil prices and lower bond yields helped ease concerns over inflation and interest rates. Germany’s DAX rose 1.13% to 25,087.27, while France’s CAC 40 gained 0.95% to 7,803.33. Britain’s FTSE 100 advanced 1.06% to close at 10,552.05. The pan-European STOXX 600 climbed 1.03%, recovering from two consecutive sessions of losses.

Also read | Earnings Tracker: HDFC Bank, HCL Tech, Wipro among 129 companies set to report Q2 results this week

Most active stocks in terms of turnover

TCS (Rs 2,536 crore), Adani Ports (Rs 1,733 crore), Hexaware Tech (Rs 1,673 crore), Infosys (Rs 1,440 crore), RIL (Rs 1,415 crore), Kotak Mahindra Bank (Rs 1,397 crore) and HDFC Bank (Rs 1,296 crore) were among the most active stocks on NSE in value terms. Higher activity in a counter in value terms can help identify the counters with the highest trading turnovers in the day.

Most active stocks in volume terms

Vodafone Idea (Traded shares: 25.32 crore), IFCI (Traded shares: 7.15 crore), Ola Electric (Traded shares: 6.9 crore), GMR Infra (Traded shares: 6.56 crore), Suzlon Energy (Traded shares: 5.75 crore), Yes Bank (Traded shares: 4.97 crore) and SAIL (Traded shares: 4.23 crore) were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest

Cyient, Inox Wind, KEC International, Persistent Systems, Aditya Infotech, Hexaware Technologies and GMR Infra were among the stocks that witnessed strong buying interest from market participants.

52-week high

Among the ones which hit their 52-week highs on NSE were Aditya Infotech, Cupid and PTC Industries.

Stocks seeing selling pressure

Stocks which witnessed significant selling pressure were Anand Rathi Wealth, Canara HSBC Life, Prime Focus, Pine Labs, Aarti Industrials, Caplin Point and Chennai Petro.

52-week low

Among the ones which hit their 52-week lows on NSE were Torrent Power, Avenue Supermart, Ramco Cements, Chambal Fertilisers, Ibull Housing Finance, Max Financial and Commercial Engineering.

Sentiment meter favours bulls

Out of the 3,684 stocks that traded on the NSE on October 9, Friday, 2,182 stocks witnessed advances, 1,391 stocks saw declines, while 111 stocks remained unchanged.

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.