Ahead of the market: 10 things that will determine D-Street action on Monday

Indian benchmark indices snapped their five-session winning streak in a highly volatile trading session on Friday, after the Reserve Bank of India (RBI) cut the cash reserve ratio by 50 basis points, easing liquidity conditions, keeping interest rates unchanged, and cutting. GDP Growth Estimates.

The benchmark S&P BSE Sensex settled down 56.74 points, or 0.07%, at 81,709.12, while the broader Nifty 50 index shed 30.60 points, or 0.12%, at 24,677.80.

Here’s how analysts read the pulse of the market:

Commenting on the day’s proceedings, Vinod Nair, head of research at Geojit Financial Services, said that although the benchmark indices ended with a flat trend, Indian broad indices showed optimism as the RBI acknowledged the subdued growth trend while last mile inflation remained unchanged.

“By reducing the CRR and injecting Rs 1.16 lakh crore into the financial system, the RBI aims to boost economic growth amid increased liquidity. The overall market showed a mixed outlook, reflecting a cautious yet resilient trend shaping sector rotation and certain stock movements. sentiment,” added Nair.

US markets

US stocks hit record highs on Friday, as strong US jobs data suggested the economy was resilient without immediate inflation concerns. Both the S&P 500 and Nasdaq closed at all-time highs, with the S&P 500 up 0.2% to mark its third straight winning week, in what looks to be one of its best years in recent history. Meanwhile, the Dow Jones Industrial Average fell 123.19 points.

European markets

European shares rose on Friday, led by French stocks, which posted their biggest daily gain in three weeks as investors assessed a potential budget amid ongoing political uncertainty and digested the US jobs report. The pan-European STOXX 600 rose 0.1%, marking its seventh straight day of gains and its strongest weekly performance in ten days.

Tech View

The Nifty continues to sustain above the breakout from the inverse head-and-shoulders pattern, indicating strength in the underlying market, said Rupak De, senior technical analyst at LKP Securities.

“Under such conditions, adopting a buy-on-dips strategy seems prudent, especially with the possibility of a move towards 25,500 in the short term. However, minor pullbacks are possible following a sharp rally, further emphasizing the effectiveness of buying on dips to capitalize on the trend,” added Day.

Most active stocks in terms of turnover

Tata Motors (Rs 125.04 crore), ITI Limited (Rs 114.08 crore), Zomato (Rs 91.84 crore), HBL Power (Rs 87.05 crore), Paytm (Rs 75.21 crore), Tata Power (Rs 60.60 crore) ), and RVNL (Rs 58.75 crore) among the most active stocks on the BSE Value terms were involved. High activity across the counter in terms of value can help identify stocks with the highest trading turnover for the day.

Most active stocks in terms of volume

Vodafone Idea (Shares traded: 42.71 crore), Yes Bank (Shares traded: 12.72 crore), ITI Limited (Shares traded: 7.61 crore), NHPC (Shares traded: 7.11 crore), JP Power (Shares traded: 7.06 crore), IRFC (Shares traded: 6.23 crore) ), and Canara Bank (shares traded: 5.99 crore). were among the most actively traded stocks on the NSE in terms of volume.

Stocks show interest in buying

Shares of ITI Ltd, MCX India, HBL Power, Policy Bazaar, Vedanta, Delhivery and Blue Star witnessed strong buying interest from market participants.

Stocks hit 52-week high

More than 233 stocks touched their 52-week highs on Friday, while 13 stocks slipped to their 52-week lows. MCX India, Policy Bazaar, Deepak Fertilizers, Paytm, Oracle, Persistent Systems and Indian Hotels touched their 52-week highs.

Selling pressure is seen in stocks

Stocks that saw significant selling pressure included HEG, Jai Balaji Industries, Can Fin Homes, SignatureGlobal India, Poly Medicare, CAMS and Aegis Logistics.

The sentiment meter favors the bulls

Market sentiment was bullish. Out of 4,088 stocks traded on BSE on Friday, 1,590 stocks declined, 2,399 stocks gained, while 99 stocks remained unchanged.

(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)