Last week, the Indian equity markets saw a significant downturn, with the BSE Sensex dropping 3,883 points to 81,688 and the Nifty 50 falling 1,164 points to 25,015. This 4.5% decline was primarily attributed to escalating tensions in the Middle East and concerns over Foreign Institutional Investors (FII) reallocating funds to more affordable Asian markets such as China. Get expert-curated top stocks to watch in the Indian market. Stay updated on market trends.
Several key factors are expected to impact the market in the near future:
– RBI Monetary Policy Meeting: Scheduled for October 9, this meeting is anticipated to provide insights on future interest rate cuts, which will be crucial for sectors sensitive to interest rates, such as banking, auto, and real estate.
– Corporate Earnings: The upcoming September quarter earnings releases by companies like Tata Consultancy Services, Tata Elxsi, and Avenue Supermarts will offer valuable indications of the recovery from the post-fed rate cut.
– Middle East Tensions & Oil Prices: Rising tensions in the Middle East have increased oil prices, which could affect India’s economy and result in inflationary pressures.
– US Inflation & FOMC Minutes: Investors will closely monitor US inflation data and FOMC minutes to gauge the Federal Reserve’s next policy move.
Stocks that are worth watching include:
– Jio Financial Services: SEBI has approved its mutual fund plan with BlackRock.
– GAIL (India): Signed an MoU with AM Green for renewable energy projects.
– Lupin: The US FDA has issued five observations on its Pune biotech facility.
– Antony Waste Handling Cell: Secured a Rs 908 crore contract from Navi Mumbai Municipal Corporation.
In addition, there have been notable bulk and block deals:
– Diffusion Engineers: Alternate investment fund 3P India Equity Fund 1 acquired a 2.94% stake.
– HDFC Bank: BNP Paribas Financial Markets sold 43.75 lakh shares to Morgan Stanley Asia and Citigroup Global Markets Mauritius.
Experts are advising a sell-on-rally approach and predicting continued consolidation. The upcoming RBI policy meeting and corporate earnings reports are expected to play crucial roles in determining the market’s direction. Discover the best Indian stocks to watch in for maximum returns.
