Bazaar Aaj Aur Kal: 10 things to know before markets reopen on 18 October

Domestic stock markets ended Monday in deep green with benchmark indices closing in the green. While the BSE Sensex closed at 58,410.98 and was up by over 491 points or 0.85 per cent from the Friday closing price, the Nifty50 index settled at 17311.80, up by 126 points or 0.73 points. In the 30-stock Sensex, 23 shares gained while remaining 7 were the losers. As for the 50-share Nifty50, 37 advanced and 13 declined. (#BazaarAajAurKal)

The markets opened with losses but eventually ended up with significant gains.

Out of the 15 sectoral indices on NSE, 3 were losers at the closing time while the rest were in the green in the closing time. Banking and financial services stocks were among the top gainers with Nifty PSU Bank index hogging the limelight. It was up nearly 3.5 per cent. The next top performer was Nifty Bank which was up by 1.56 per cent and settled at 39,920.45. Nifty Financial Services was higher by 1.15 per cent. Another non-banking sector which gained traction was Nifty Oil & Gas (0.65 per cent).

Electronic Mart shares had a bumper listing on the exchanges and was listed at a premium of 52 per cent at Rs 90. The stock closed at Rs 83.70 on the NSE.

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

1) Zee Business Managing Editor Anil Singhvi said that despite weakness in the global markets in the previous week, the domestic markets traded with positivity on Monday. This was despite Dow Futures not showing enough strength. The markets opened with slight weakness but soon gained momentum to close near the day’s peak.

2) Nifty Bank led the way and managed to break away from an important level of 39600. He said that today’s closing is a big morale booster.   

3) Market expert Sudip Bandopadhyay said that oil prices play an important role for Indian economy and how domestic markets move. It is directly linked with the USD and rupee movement, he added. Investors must keep a watch on it.

Also Read: Nifty50, BSE Sensex top gainers and losers: SBI, ICICI Bank are stocks to buy for short term gains, says this expert

4) Innvestors must keep an eye on geo-political tensions like the one between Russia and Ukraine. Also, on how Central banks are increasing interest rates to contain inflation. He also said that the story emerging from UK - where steps taken by newly elected PM Liz Truss has not gone down too well – must also be keenly watched.

5) Quarterly results of listed companies are now being declared and that may impact market movement. There could be stock specific action.

6) Markets will also be keeping an eye on the Reserve Bank of India decisions on interest rates. He said that there is an upward bias in the markets now.

7) A large part of funds invested in the China could leave the country and could likely be invested in India, he further said.

Also Read: Sector Spotlight: Buy SBI, ICICI Bank for gains as banking, financial sector stocks poised for gains, says analyst

8) Anil Singhvi said that US markets are witnessing an aggressive trade on both sides. If US markets close positively on Monday, the support will shift upwards for Nifty50 at 17100-17175. The resistance will be in the range between 17425 and 17525.

9) As for Bank Nifty, the support is between 39300 and 39550. If the index breaches 40000 mark, it will try to test levels of 40350.

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#BazaarAajAurKal में देखिए आज के शेयर बाजार का लेखा-जोखा और कल के बाजार का अनुमान @rainaswati | @AnilSinghvi_ https://t.co/FyJ04w8MVq

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10) The markets are suitable for buy on dips strategy. Bank Nifty is about to take leadership position with Axis Bank and ICICI Bank scheduled to declare their quarterly results on 20 October and 22 October respectively.     

(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.)