Zee Business Stock, Trading Guide: Things to Know Before Market Opens on 16th September 2022

Stock Market Today 15 September 2022: Indian stock markets ended in the red on Thursday -  the day of weekly expiry. While the BSE Sensex closed at 59,934.01, down nearly 412.96 points or  0.68 per cent from the Wednesday closing price, the 50-share Nifty50 index settled at 17,877.40, down by 126 or 0.70 per cent from the last closing. 

In the 30-share BSE Sensex, 7 stocks were gainers at the closing time. The remaining 23 were losers. In the 50-share Nifty50 index, 11 stocks advanced while 39 declined.

Bank Nifty ended at of 41209, losing almsot 200 points from the Wednesday closing.

Meanwhile, the listing of Tamilnad Mercantil Bank IPO witnessed a weak listing. the stock today closed at Rs 510 against the issue price of rs 525. Zee Business Managing Editor Anil SInghvi had advised investors not to put money in this issue. Harsha Engineering IPO was subscribed over 10 times on the BSE as on Thursday. The Managing Editor has advised investors for big listing gains and long term investment. 

Zee Business Stock, Trading Guide: Top Triggers

1) An eventful day stock markets as the session remained highly volatile on the day of expiry. There were mixed signals from the US Markets for the domestic markets. As for domestic cues, there was significant selling done by Foreingn Institutional Investors (FIIs).

2) Bank Nifty made a new record today scaling highs of 41840 which was followed by strong profit booking, Singhvi said. 

3) The pressure could be attributed to FII selling followed by lacklustre show by global markets, he further said.

4) Amid high volatility, the traders are low on confidence to keep vernight positions. 

5) All was not bad as broader markets witnessed good action. The Nifty mid cap index ended in the green while the small cap index ended nearly flat. There is action for two way trade with traction was on selective stocks.

6) Expert Avinash Gorakshkar of Profitmart Securities said that the markets were down because of FII sell-off. 

7) The FII sold equities worth Rs 1270.68 cr while the Domestic Institutional Investors (DIIs) sold Indian equities wortn Rs 929 cr. 

8) The US Federal Reserve Monetary Policy announcement scheduled later this onth will be keenly watched followed by the Reserve Bank of India (RBI) MPC in October, Gorakshkar said. While a 75 bps rate hike from Fed is expected, a 100 bps increase could prove to be a negative surprise.

9) His advise to investors is to focus on stock specific action as there could be volatility in indices.

10) He recommends a long term buy on Associated Alchohols Breweries shares. It was recommended at a price of Rs 473 for a price target of Rs 600, Gorakshkar said. He has a view of 12-15 months. 

11)  Bulk Deal: 3 entities sell PVR shares worth Rs 759.14 crore - 40.45 lakh shares offloaded: Three different entities have offloaded 40.45 lakh shares of multiplex operator PVR on Thursday that are worth Rs 759.14 crore through open market transactions. Plenty Private Equity FII I sold 7,62,499 shares of the company at an average price of Rs 1,877.14 apiece, according to bulk deal data available on the BSE. Plenty Private Equity Fund I offloaded 10,76,259 shares of the firm at an average price of Rs 1,887.04 and Gray Birch Investment sold 22,06,743 shares at Rs 1,871.18 apiece. Gray Birch Investment sold its entire holding in the firm. As per the company's June quarter shareholding pattern available on the BSE, Gray Birch Investment held 22,06,743 shares or 3.61 per cent as public shareholder, while Plenty Private Equity FII I held 15,24,998 shares or 2.50 per cent stake in PVR. Plenty Private Equity Fund I held 21,52,517 shares or 3.52 per cent stake in the company. Shares of PVR fell 4.40 per cent to settle at Rs 1,844.50 apiece on the BSE.

12) Indian markets will take cues from US Markets and FII and DII data, Singhvi said.

13) Nifty50 will find its support between 17775 and 17850 while resistance at 18000-18075, Singhvi said with profit booking at these levels.

14) As for Bank Nifty, resistance is seen at 41400-41600 with profit booking likley at these levels while support at 40875-41000, the Market Guru said.

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15) There will be stock specific action in cash market, Singhvi said.