Ahead of Market: 10 things that will decide D-Street action on Monday
Indian benchmark indices closed lower on Friday as closing auction sessions caused divergence between Sensex and Nifty. While Sensex fell 456 points, Nifty dropped 65 points. Market sentiment remained cautious amid Middle East tensions and crude o...
By Debaroti Adhikary, ETMarkets.com | Updated:
IANS
Indian benchmark indices closed lower on Friday
Indian equity markets closed lower on Friday, with the newly launched closing auction session continuing to create a divergence between the benchmark indices Sensex and Nifty.
Sensex closed nearly 456 points lower (0.58%) at 78,499, while Nifty 50 fell only 65 points (0.27%) to end the session at 24,571. Broad markets were mixed, with Nifty Smallcap 100 closing in the red, while Nifty Midcap 100 gained 0.2%.
Here's how analysts read the market pulse:
Market sentiment remains measured as the absence of a definitive geopolitical resolution in the Middle East continues to keep crude oil prices volatile, said Vinod Nair, Head of Research at Geojit Financial Services. Meanwhile, gold has strengthened on renewed safe-haven demand and a softer US dollar, with investors closely tracking the upcoming US non-farm payrolls data for further clarity on the Fed's policy trajectory, he added.
"Domestically, earnings from several industry bellwethers have been in line with or ahead of expectations, providing a constructive backdrop for sector-specific optimism and investment opportunities. Notably, SBI's strong performance, underpinned by healthy credit growth, improving asset quality and resilient margins, has reinforced confidence in the banking and PSU banking segments, offering an important pillar of support to the broader market outlook," according to the analyst.
US stocks
US stocks rallied on Friday after data showed employers unexpectedly cut 23,000 jobs last month, raising hopes that the Federal Reserve will hold off on interest rate hikes. The S&P 500 rose 0.6% to a new record high of 7,757.64, while the Nasdaq added 1.3% and the Dow gained 0.3%. Yields on 10-year Treasuries dropped to 4.64%.
European markets
European equities extended their rally, with the STOXX 600 rising 0.3% to a record 660.25, marking a fourth straight weekly gain. The advance was driven by strong corporate earnings, gains in technology stocks, and supportive sentiment from expectations of a potential U.S.-Iran agreement.
Technology shares led sectoral gains, tracking Wall Street strength, while healthcare stocks also advanced, boosted by Genmab’s strong results and upgraded outlook. Softer U.S. payroll data, showing an unexpected decline in jobs, further lifted sentiment by reducing expectations of a near-term Federal Reserve rate hike.
Tech view
Going ahead, the immediate resistance for Nifty is placed in the 24,700-24,730 zone, according to SBI Securities. Any sustainable move above this zone could result in Nifty extending its up move towards 24,850, followed by 25,000 in the short term, it added.
On the downside, the immediate support for Nifty is placed in the 24,430-24,400 zone, the domestic brokerage said.
Most active stocks in terms of turnover
Most active stocks in volume terms
Vodafone Idea (Traded shares: 20.59 crore), Samvardhana Motherson (Traded shares: 11.56 crore), Suzlon Energy (Traded shares: 5.24 crore), Reliance Power (Traded shares: 5.06 crore), JP Power (Traded shares: 4.05 crore), LIC (Traded shares: 3.64 crore) and Kalyan Jewellers (Traded shares: 3.33 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Sapphire Foods, Siemens Energy, Tata Technologies, Devyani International, Samvardhana Motherson, Techno Electric and Travel Food 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 Tata Technologies, Samvardhana Motherson, Travel Food Services, Neuland Labs, Aurobindo Pharma, Ramkrishna Forgings and Exide Industries.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Jyoti CNC Automation, Crompton Greaves, EIH, Bajaj Finance, eClerx Services, C.E. Info Systems and Firstsource.
Sentiment meter favours bulls
Out of the 3,468 stocks that traded on the NSE on August 7, Friday, 1,685 stocks witnessed advances, 1,664 saw declines while 119 stocks remained unchanged.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Sensex closed nearly 456 points lower (0.58%) at 78,499, while Nifty 50 fell only 65 points (0.27%) to end the session at 24,571. Broad markets were mixed, with Nifty Smallcap 100 closing in the red, while Nifty Midcap 100 gained 0.2%.
Here's how analysts read the market pulse:
Market sentiment remains measured as the absence of a definitive geopolitical resolution in the Middle East continues to keep crude oil prices volatile, said Vinod Nair, Head of Research at Geojit Financial Services. Meanwhile, gold has strengthened on renewed safe-haven demand and a softer US dollar, with investors closely tracking the upcoming US non-farm payrolls data for further clarity on the Fed's policy trajectory, he added.
"Domestically, earnings from several industry bellwethers have been in line with or ahead of expectations, providing a constructive backdrop for sector-specific optimism and investment opportunities. Notably, SBI's strong performance, underpinned by healthy credit growth, improving asset quality and resilient margins, has reinforced confidence in the banking and PSU banking segments, offering an important pillar of support to the broader market outlook," according to the analyst.
US stocks
US stocks rallied on Friday after data showed employers unexpectedly cut 23,000 jobs last month, raising hopes that the Federal Reserve will hold off on interest rate hikes. The S&P 500 rose 0.6% to a new record high of 7,757.64, while the Nasdaq added 1.3% and the Dow gained 0.3%. Yields on 10-year Treasuries dropped to 4.64%.
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European markets
European equities extended their rally, with the STOXX 600 rising 0.3% to a record 660.25, marking a fourth straight weekly gain. The advance was driven by strong corporate earnings, gains in technology stocks, and supportive sentiment from expectations of a potential U.S.-Iran agreement.
Technology shares led sectoral gains, tracking Wall Street strength, while healthcare stocks also advanced, boosted by Genmab’s strong results and upgraded outlook. Softer U.S. payroll data, showing an unexpected decline in jobs, further lifted sentiment by reducing expectations of a near-term Federal Reserve rate hike.
Tech view
Going ahead, the immediate resistance for Nifty is placed in the 24,700-24,730 zone, according to SBI Securities. Any sustainable move above this zone could result in Nifty extending its up move towards 24,850, followed by 25,000 in the short term, it added.
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On the downside, the immediate support for Nifty is placed in the 24,430-24,400 zone, the domestic brokerage said.
Most active stocks in terms of turnover
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SBI (Rs 3,246 crore), Siemens Energy (Rs 2,897 crore), ICICI Bank (Rs 2,063 crore), Kalyan Jewellers (Rs 2,053 crore), Samvardhana Motherson (Rs 1,927 crore), Bajaj Finance (Rs 1,702 crore) and LIC (Rs 1,432 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: 20.59 crore), Samvardhana Motherson (Traded shares: 11.56 crore), Suzlon Energy (Traded shares: 5.24 crore), Reliance Power (Traded shares: 5.06 crore), JP Power (Traded shares: 4.05 crore), LIC (Traded shares: 3.64 crore) and Kalyan Jewellers (Traded shares: 3.33 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Sapphire Foods, Siemens Energy, Tata Technologies, Devyani International, Samvardhana Motherson, Techno Electric and Travel Food 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 Tata Technologies, Samvardhana Motherson, Travel Food Services, Neuland Labs, Aurobindo Pharma, Ramkrishna Forgings and Exide Industries.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Jyoti CNC Automation, Crompton Greaves, EIH, Bajaj Finance, eClerx Services, C.E. Info Systems and Firstsource.
Sentiment meter favours bulls
Out of the 3,468 stocks that traded on the NSE on August 7, Friday, 1,685 stocks witnessed advances, 1,664 saw declines while 119 stocks remained unchanged.
(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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