Ahead of Market: 10 things that will decide stock market action on Monday

Indian benchmark indices Sensex and Nifty ended the week on a positive note, rising up to 0.5% even as broader markets crashed amid rising headwinds including oil prices crossing $117 per barrel.

Sensex jumped 308 points to close at nearly 74,460 while Nifty 50 gained 116 points to end the session at 23,053 on Friday. This came even as broader markets crashed, with Nifty Midcap 100 and Nifty Smallcap 250 indices dropping up to 2%.

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Here's how analysts read the market pulse

Persistent inflation concerns kept equities under pressure despite the ECB and BoJ joining the Fed in holding rates. Renewed anxiety around AI valuations spilled over into Asian markets, said Vinod Nair, Head of Research at Geojit Investments. He noted that the sentiment weakened further as crude oil extended gains amid fresh reports on US-Iran tensions, triggering broad-based selling across mid- and small-caps.

Large-caps showed relative resilience, supported by IT, where selective buying emerged amid a rotation away from global AI plays, while pharma and healthcare gained on encouraging earnings and defensive demand,” the analyst said.

V K Vijayakumar, Chief Investment Strategist at Geojit Investments, advised investors to keep in mind the fact that value buying opportunities are in large-caps which are temporarily out of favour due to FII selling.

US stocks
Wall Street suffered a sharp selloff on Friday, with the Nasdaq posting its biggest single day percentage decline since June 5, as disappointing quarterly results from Intel and Amazon intensified concerns over the soaring cost of artificial intelligence investments and the time companies may need to generate returns, Reuters reported.

European markets

European shares dropped on Friday, hammered by a global tech selloff that shaved billions off the market values of some chip heavyweights, ending a largely strong month on a sour note.
The pan-European STOXX 600 index closed 0.36% lower at 646.75 points, despite recording its best month since June.

Most active stocks in terms of turnover

Sagility India (Rs 3,303 crore), Laurus Labs (Rs 1,856 crore), RIL (Rs 1,712 crore), Infosys (Rs 1,531 crore), HDFC Bank (Rs 1,470 crore), ICICI Bank (Rs 1,469 crore), and Bharti Airtel (Rs 1,424 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.

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Most active stocks in volume terms

Sagility India (Traded shares: 77.33 crore), Suzlon Energy (Traded shares: 33.13 crore), Vedanta Power (Traded shares: 29.9 crore), Vedanta Oil and Gas (Traded shares: 23.12 crore), Vodafone Idea (Traded shares: 21.95 crore), Yes Bank (Traded shares: 10.37 crore) and Ola Electric Mobility (Traded shares: 5.96 crore) were among the most actively traded stocks in volume terms on NSE.

Stocks showing buying interest

Vedanta Power, Vedanta Oil and Gas, Laurus Labs, Ather Energy, Trent, Cadila Healthcare and Navin Fluorine 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 included Laurus Labs, Ather Energy, Cadila Healthcare, Coforge, Piramal Pharma, Sona BLW Precision and Eternal.

Stocks seeing selling pressure

Stocks which witnessed significant selling pressure were Intellect Design, Redington, Suzlon Energy, Suven Pharma, Paradeep Phosphates, Balrampur Chini and Aegis Logistics.

52-week low

Among the ones which hit their 52-week lows on NSE included Intellect Design, Suzlon Energy, Inox Wind, Guj Mineral Developers, Dalmia Bharat, Sumitomo Chemical and Swan Energy.

Sentiment meter favours bulls

Out of the 3,633 stocks that traded on the NSE on October 30, Friday, 1,013 stocks witnessed advances, 2,511 stocks saw declines while 109 stocks remained unchanged.

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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.