Ahead of Market: 10 things that will decide stock market action on Thursday
Indian equities rebounded on September 16 after Tuesday’s sharp sell-off, with Sensex gaining 333 points and Nifty rising 99 points. Large caps led gains, while broader markets declined. Groww, Paytm and Pine Labs featured among the most active st...
By Debaroti Adhikary, ETMarkets.com |
iStock
Sensex and Nifty recovered losses after Tuesday’s crash, while large caps gained and broader markets weakened amid mixed breadth and selective buying.
The Indian stock market snapped a two-session losing streak on Wednesday, with Sensex and Nifty closing in the green and recovering some of the losses recorded during yesterday’s sharp crash that wiped off more than Rs 9 lakh crore from Dalal Street.
Sensex gained 333 points to close at 74,336, while Nifty 50 rose 99 points to end the session near 23,218. Broader markets, however, remained in the red, with Nifty Midcap 100 down marginally and Nifty Smallcap 100 falling 0.18%.
Also read | Dalal Street faces a double whammy of Fed rate hike, soaring bond yields. Are Sensex and Nifty heading for a bigger crash?
Here's how analysts read the market pulse
Indian equities advanced in tandem with regional markets as easing crude oil prices and a largely priced-in US Fed rate hike improved investor sentiment, said Vinod Nair, Head of Research at Geojit Investments. He added that the constructive mood was further reinforced by a moderation in Japanese bond yields ahead of the BoJ's policy decision, supporting risk appetite across Asia.
“Domestically, large-cap stocks led the gains, driven by strength in banking, FMCG and automobile counters, while the IT sector witnessed selective profit booking following its recent outperformance. Investors now await the Fed Chair's commentary for deeper insight into the future rate trajectory, with the guidance expected to influence global liquidity conditions, capital flows and the near-term direction of financial markets,” he further said.
US stocks
The Nasdaq Composite and the S&P 500 edged higher following a two-day slide, as lower oil prices offered some relief on Wednesday.
Energy stocks fell, while technology shares were mixed. Nvidia and Apple were up marginally.
Oil prices dipped after reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns about the scale of Middle East supply disruptions.
The S&P 500 energy index was the worst-performing sector index, down 2.1%, with Devon Energy and ConocoPhillips lower by more than 3% each.
European markets
Most bourses in Europe were trading higher. The pan-European STOXX 600 added 0.6% and benchmarks of Germany , France and Spain all saw gains.
Most active stocks in terms of turnover
Groww (Rs 2,829 crore), Paytm (Rs 2,742 crore), Pine Labs (Rs 2,072 crore), HDFC Bank (Rs 1,973 crore), Tata Chemicals (Rs 1,896 crore), ICICI Bank (Rs 1,303 crore) and RIL (Rs 1,253 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: 30.78 crore), Yes Bank (Traded shares: 20.54 crore), Groww (Traded shares: 14.8 crore), IFCI (Traded shares: 11.4 crore), Pine Labs (Traded shares: 11.24 crore), Suzlon Energy (Traded shares: 6.5 crore) and Ola Electric (Traded shares: 4.23 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Patanjali Foods, Policy Bazaar, Vardhman Textiles, Aegis Logistics, Max Financial, Urban Company and eClerx Services 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 Paytm and Dr Lal Pathlabs.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Tata Investment, Premier Energies, HEG, CarTrade Tech, Granules India, Pine Labs and HFCL.
52-week low
Among the ones which hit their 52-week lows on NSE included HEG, Whirlpool India, UPL, Afcons Infrastructure, IRCTC, United Breweries and Commercial Engg..
Sentiment meter favours bears
Out of the 3,662 stocks that traded on the NSE on September 16, Wednesday, 1,688 stocks witnessed advances, 1,855 stocks saw declines while 119 stocks remained unchanged.
Also read | Stocks to buy: BofA lists 22 Indian stocks as key picks as it turns bullish on Nifty after 2 years
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Sensex gained 333 points to close at 74,336, while Nifty 50 rose 99 points to end the session near 23,218. Broader markets, however, remained in the red, with Nifty Midcap 100 down marginally and Nifty Smallcap 100 falling 0.18%.
Also read | Dalal Street faces a double whammy of Fed rate hike, soaring bond yields. Are Sensex and Nifty heading for a bigger crash?
Here's how analysts read the market pulse
Indian equities advanced in tandem with regional markets as easing crude oil prices and a largely priced-in US Fed rate hike improved investor sentiment, said Vinod Nair, Head of Research at Geojit Investments. He added that the constructive mood was further reinforced by a moderation in Japanese bond yields ahead of the BoJ's policy decision, supporting risk appetite across Asia.
“Domestically, large-cap stocks led the gains, driven by strength in banking, FMCG and automobile counters, while the IT sector witnessed selective profit booking following its recent outperformance. Investors now await the Fed Chair's commentary for deeper insight into the future rate trajectory, with the guidance expected to influence global liquidity conditions, capital flows and the near-term direction of financial markets,” he further said.
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US stocks
The Nasdaq Composite and the S&P 500 edged higher following a two-day slide, as lower oil prices offered some relief on Wednesday.
Energy stocks fell, while technology shares were mixed. Nvidia and Apple were up marginally.
Oil prices dipped after reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns about the scale of Middle East supply disruptions.
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The S&P 500 energy index was the worst-performing sector index, down 2.1%, with Devon Energy and ConocoPhillips lower by more than 3% each.
European markets
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Most bourses in Europe were trading higher. The pan-European STOXX 600 added 0.6% and benchmarks of Germany , France and Spain all saw gains.
Most active stocks in terms of turnover
Groww (Rs 2,829 crore), Paytm (Rs 2,742 crore), Pine Labs (Rs 2,072 crore), HDFC Bank (Rs 1,973 crore), Tata Chemicals (Rs 1,896 crore), ICICI Bank (Rs 1,303 crore) and RIL (Rs 1,253 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: 30.78 crore), Yes Bank (Traded shares: 20.54 crore), Groww (Traded shares: 14.8 crore), IFCI (Traded shares: 11.4 crore), Pine Labs (Traded shares: 11.24 crore), Suzlon Energy (Traded shares: 6.5 crore) and Ola Electric (Traded shares: 4.23 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Patanjali Foods, Policy Bazaar, Vardhman Textiles, Aegis Logistics, Max Financial, Urban Company and eClerx Services 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 Paytm and Dr Lal Pathlabs.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Tata Investment, Premier Energies, HEG, CarTrade Tech, Granules India, Pine Labs and HFCL.
52-week low
Among the ones which hit their 52-week lows on NSE included HEG, Whirlpool India, UPL, Afcons Infrastructure, IRCTC, United Breweries and Commercial Engg..
Sentiment meter favours bears
Out of the 3,662 stocks that traded on the NSE on September 16, Wednesday, 1,688 stocks witnessed advances, 1,855 stocks saw declines while 119 stocks remained unchanged.
Also read | Stocks to buy: BofA lists 22 Indian stocks as key picks as it turns bullish on Nifty after 2 years
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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