InvestorQ : How do you see the trading on the stock markets on Friday 07th October?
Anu Biswas made post

How do you see the trading on the stock markets on Friday 07th October?

diksha shah answered.
2 months ago

The Nifty index closed on Thursday with gains of another 58 points and now settled firmly above the 17,000 mark. However, the Nifty could not hold the morning gains but metal and mineral stocks enjoyed most of the gains for the day. Consumer stocks came under a lot of pressure during the day but that could be more a regularization after the rally.

The undertone of the market breadth as measured by the advance decline ratio was largely neutral with a ratio of around 27:23 on the Nifty. The A/D ratio tapered towards the end of the day. The rate expectations are largely absorbed into the markets and the next big event would be the CPI and WPI inflation numbers coming out next week.

Foreign institutional investors were net buyers in equities to the tune of a rather subdued Rs.279 crore even while the domestic funds and LIC sold stocks worth Rs.44 crore on Thursday. While FPI flows have certainly been positive, the flows continue to be extremely cautious and even halting in many cases, in the absence of clarity on outlook.

Global markets once again came under pressure on Thursday as the Dow fell by 347 points and NASDAQ was down 75 points as markets remained cautious about the overall macros. The SGX Nifty is lower by 48 points in early trades even as most of the European markets were under pressure on the previous day. Asia has also opened tentative on Friday.

The cues are not too favourable in early morning trades and the markets may at best be rangebound in Friday trades. However, one cannot rule out the pressure that being a weekend should rub off on the markets in the second half. One can expect some selling pressure as traders unwind their positions. Some of the banking stocks are likely to be negatively impacted on Friday due to SEBI barring Brickworks from rating activities.