10 triggers to watch out for when markets reopen on Thursday

Indian stock markets ended Tuesday with a bang aided by strong show by the US markets on Monday. The weak economic data in US lifted the markets with hopes of less aggressive stance of the Federal Reserve towards interest rate hikes to tame inflation in forthcoming monetary policy meeting.

BSE Sensex closed at 58,065.47, up by over 1276 points or 2.25 per cent. Meanwhile, the 50-share Nifty50 settled at 17274.30, up by 387 points or 2.29 per cent. In the 30-share Sensex, 27 ended in the green while 3 were trading in the red at the closing time. Forty eight stocks in Nifty50 advanced while the remaining two declined. , 27 stocks advanced while 23 declined. Nifty Bank ended at 39,110.05, up by 2.84 per cent or 1080 points.

All 15 sectoral indices closed in green with Nifty Metal (3.13 per cent), Nifty Private Bank (3.16 per cent) and, Nifty PSU Bank (2.97 per cent) and Nifty IT (2.87 per cent) among the top performers.

In the broader markets, Nifty Mid Cap 100 (2.66 per cent) and Nifty Small Cap 100 (1.76 per cent) indices closed positively      

Here are things to watch out for when markets reopen on Thursday:

1) The Indian stock markets will remain closed on Wednesday on account of Dussehra Holiday. The opening on Thursday will depend upon closing of US markets on Tuesday and Wednesday. on Tuesday, Wallstreet rally continued on Tuesday and Dow 30, Nasdaq Composite and S&P 500 were trading in the green. DOW 30 was trading at 30,228.40, up by 737.56 or 2.50 per cent. Meanwhile, S&P 500 was trading at 3,780.44, up by 102.01 or 2.77 per cent. Nasdaq Composite was trading at 11,159.60, up over 340 points or 3.18 per cent at the time of filing of the story.

Source: Comex

2) Rupee Vs Dollar: The rupee appreciated by 20 paise to end at 81.62 against the US dollar on Tuesday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment.
However, rising crude prices in the international market capped the rupee's gain, forex dealers said. At the interbank forex market, the local unit opened strong at 81.66 against the greenback. It witnessed an intra-day high of 81.36 and a low of 81.66 during the session. "Positive FII number is leading rupee to gain lost ground. Crude oil prices however have shown positive activity which can dampen the ongoing cheer as OPEC will announce production cuts amid falling demand due to recession. Rupee going ahead is expected to trade in the range of 81.00-81.80," Jateen Trivedi, VP Research Analyst at LKP Securities said. "Rupee retraced from its all-time lows after the RBI raised rates by 50 bps. The dollar retraced from high levels after the manufacturing PMI number released from the US came below estimates. "Volatility in major crosses continues to remain high as updates on the change in economic policies keep market participants on the edge. Today, the focus will be on the factory order number to gauge a view for the dollar. We expect the USD/INR (Spot) to quote in the range of 81.20 and 82.05," Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services, said. PTI

 Source: Comex

3) Anil Singhvi Strategy: Nifty has support around 17100 and resistance at 17325, the Managing Editor said. Once the resistance is breached, an upside will be opened for levels up to 17500. As for Bank Nifty, the support is seen at 38626-38800 while the resistance will be between 39500 and 39650. #BazaarAajAurKal

4) Volatility Index (VIX) declined by 8.40 per cent to 19.57 21.37 on Monday.

5) Electronics Mart India, whose Initial Public Offering (IPO) opened today was overall subscribed 0.54 times on the first day. The Retail Individual Investors (RIIs) was subscribed 0.97 per cent. The Non-Institutional Investors (NIIs) subscribed the issue by 0.25 per cent. The issue ends on 7 October (Friday). 

6) No securities will be in ban on 6th October (Thursday) as per the data available on NSE.

7) FII / DII data: The Foreign Institutional Investors (FIIs) bought Indian equities worth Rs 1,344.63 cr while Domestic Institutional (DIIs) investors bought shares worth Rs 945.92 cr. 

8) Bulk Deals: At least 14 companies witnessed bulk deal action on the NSE. Graviton Research Capital LLP bought shares 52,963 shares at Rs 161.58 per share in BSL Ltd. Graviton Research sold 52,963 shares at Rs 162.22 per share in the company. Matalia Stock Broking Private Limited bought 52,090 shares at Rs 162.14 per share. Matalia sold 52,090 share at Rs 162.54 per share. QE Securities bought 85,129 shares in Liberty Shoes Ltd at Rs 335.37 per share. QE Securities sell 96,573 shares at Rs 337.08 per share. Among other stocks, which saw bulk deals were Vashali Pharma, Tapi Fruit Processing and Akshar Spintex. There could be stock specific action in these stocks when markets reopen on Thursday.

9) Q2FY22 Results: Companies that will announce their quarterly earnings include Jhandewalas Food Limited, Galactico Corporate Services and Vivanta Industries.  

10) Vikas Sethi is bullish on the markets and recommends a buy. He recommended ITD Cementation with a positional term view. It was recommended at a price around Rs 113 for a price target of Rs 130 and stop loss of Rs 105.

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)