Share Market Today: Will the market’s ‘hat-trick’ continue today or will there be a break before the weekend? Know 5 big signs of bullishness

After two consecutive days of rise in the Indian stock market, now everyone’s eyes are on Friday’s trading. On Thursday, both Sensex and Nifty closed with strong gains. Strong buying in IT stocks, strong global signals and first quarter (Q1) business updates of big companies have boosted the morale of investors. Now the big question is whether the market will be able to maintain this momentum even today or profit booking will dominate before the weekend.

Today, the attitude of foreign institutional investors (FIIs), movement of American markets, quarterly updates of domestic companies and tough corporate decisions will play the most important role in deciding the direction of the market. At present, the IT sector is providing the biggest support to the market, while shares of banking, auto and metal sectors will also be on the radar. If there are signs of strength from the global market, then buying in the domestic market may also get more strength.

Which signs are positive for the market?

All-round buying was seen in the Indian market on Thursday. Sensex closed with a jump of about 579 points, while Nifty registered a gain of 169 points. Good signals from American and Asian markets have instilled new confidence among Indian investors. Market experts believe that the earlier fear regarding inflation, interest rates and global recession has now reduced considerably. This is the reason why investors are now investing heavily in companies with strong fundamentals.

Which stocks will keep a close eye on today?

Due to business updates and important news, considerable movement can be seen in the shares of these companies today:

• Marico: There are signs of improvement in domestic business.
• Hindustan Zinc: Record production has been recorded in the first quarter.
• Adani Enterprises: Agreement has been signed for a big aluminum project in Odisha.
• Maruti Suzuki: A new plant has been started in Kharkhoda, Haryana.
• Yes Bank, Bajaj Finance and Bajaj Housing Finance: Will be in focus due to excellent business updates and loan growth figures for the first quarter.
• RailTel and BPCL: Will remain the choice of investors due to their business activities.
• PB Fintech and DMart: Will remain in the race on the basis of quarterly results and business updates.
• LG Electronics India: In the news after getting a big relief in a case related to GST.

What do the quarterly figures of companies say?

The initial figures coming for the April-June quarter are quite encouraging for the market. Many big public and private sector banks (like PNB, Union Bank, UCO Bank, Central Bank and CSB Bank) have shown excellent growth in terms of loan distribution and deposit mobilization. Apart from this, there has also been a huge jump in the Asset Under Management (AUM) of Bajaj Finance and Bajaj Housing Finance. These figures make it clear that business activity in the financial sector of the country is very strong, which can directly benefit the stock market.

Apart from this, companies like PC Jeweler have also claimed excellent revenue growth and have expressed confidence of being completely debt free in the same quarter. Overall, amid the news of expansion and new projects of companies, the board meetings and AGM to be held today will also be kept an eye on, because dividend or other big decisions can cause big fluctuations in these shares.

Role of FIIs and global market

The Indian market will not run on the basis of domestic news alone. Buying by foreign investors (FIIs), trend of American-Asian markets, crude oil prices and dollar fluctuations will also decide the investors’ strategy. If the buying of foreign funds continues, this market rally may extend for the third day also.

At present the mood and atmosphere of the market seems completely positive. If there is no major upheaval during trading today, then the Indian stock market may be successful in closing in the green for the third consecutive day.

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