InvestorQ : What are the major stock market signals for Monday 26 April? Do you think it is time to start buying in this market?
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What are the major stock market signals for Monday 26 April? Do you think it is time to start buying in this market?

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diksha shah answered.
2 weeks ago
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On Friday, the Nifty and Sensex opened on a rather strong note but failed to sustain gains and ended the week nearly 2% lower. The biggest hit was seen in cyclical sectors like banks and capital goods that came under a lot of selling pressure in the second half. However, there was some reassuring buying in pharma and metal stocks.

The big headwind for markets continues to be the COVID pandemic as the daily afflictions did not show any signs of abating. That remains the biggest risk factor for the market at this point of time. Unless the inoculation drive takes off really aggressively and in a targeted manner, markets may remain range-bound and the undertone will be sell-on-rises.

Continuing the trend of the last 5-6 seeks, the FPI action was negative on Friday too with net selling of Rs.1,361 crore. However, as has been the recent trend, the domestic institutions bought Rs.1,696 crore of equities. For April 2021 MTD, FPIs have already sold Rs.8,600 crore in equities but have infused Rs.1,000 crore into debt.

Globally, tech stocks were in the limelight with NASDAQ up 1.5% and Dow up just 70 bps. European markets were flat to negative on Friday while SGX Nifty is trading marginally lower in early trades. This is not the market to jump in for big trades but you can use lower levels to chip away at your favourite stocks at better prices.


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