InvestorQ : What is your stock market view for Monday 27th September and do you see the Sensex holding above 60,000?
ishika Banerjee made post

What is your stock market view for Monday 27th September and do you see the Sensex holding above 60,000?

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diksha shah answered.
2 months ago
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Friday was a sort of historic day for the markets as the mix of buying and short covering took the Sensex well above 60,000. The last 5,000 points movement has happened in just 28 trading sessions flat. The next target would be of the Nifty scaling above the 18,000 levels which is less than 150 points away and would be the next psychological target.

There are 3 stories likely to play out on Monday, 27th September. Firstly, Zee is likely to see positive re-rating as will Dish TV in the midst of the board reshuffle. Secondly, multiplex stocks like PVR and INOX are likely to get positively re-rated as they reopen multiplex complexes. Lastly the lag effect of the Godrej record will continue to help realty stocks.

Foreign investors were net buyers on Friday adding about Rs.443 crore of equities, which was neutralized by domestic selling of Rs.516 crore. The rally appears to be relying a lot on short covering and retail buying. However, FPI flows overall in the month of September has been around Rs.22,000 crore, with one-third coming from equity and balance from debt.

Friday global cues were fairly limited. The Dow was mildly positive while NASDAQ was in the negative. Meanwhile, Europe saw losses ahead of the central bank triggers next in coming week. In early trades on Monday, the benchmark SGX Nifty is up around 60 bps in early trades but Asian cues and Dow futures could hold the key to Indian markets.

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