InvestorQ : What is your view for trading in stocks for Monday 02 August?
Dia Deshpande made post

What is your view for trading in stocks for Monday 02 August?

diksha shah answered.
1 year ago

Last Friday, which was the last trading day of July, saw the markets remaining in the positive for most of the day. However, towards the latter half, it corrected and closed in the negative, albeit marginally. Among sectors, IT and pharma did well but financials and FMCG stocks took the brunt of the selling. Clearly, results have not been gone down too well.

For the month of July, the Nifty ended with marginal gains of 0.26% while the Nifty Mid-Cap gave over 2.5% and the Nifty small cap gave over 8% returns. However, the advance decline ratio remained favourable at 27:23. For the month of July, it was metals that was the star sector as a combination of robust demand and favourable pricing helped.

Foreign investors were net sellers of Rs.3,848 crore on 30 Jul while the domestic institutions infused Rs2,957 core on Friday. FPIs have sold Rs.23,500 crore worth of equities in the month of July 2021 although this was also partially compensated by the flows coming in through the IPO route. However, on a net basis, they still remain sellers.

Global markets across the US and the EU were in the red. However, SGX Nifty has reacted positively and it is up 73 basis points in early trades on Monday. August month could once again see the Nifty attempting the 16,000 level on the Nifty but a lot will depend on the RBI monetary policy and the COVID cases not really spiking out of control.