From mint · Asit Manohar · · 1m 30s
Sensex Nifty Bank Nifty Monday Prediction
Indian stock market may open higher Monday with Accenture results, bank leadership changes, and fuel price hikes.
In brief
Indian stock market may open higher Monday with Accenture results, bank leadership changes, and fuel price hikes. Indian stock indices could rise Monday due to Accenture's strong results, new bank leadership, and petrol-diesel price hikes. Originally reported by mint.
Sensex Nifty Bank Nifty prediction
The Nifty 50 finished lower for eight straight weeks on Thursday.
“The Nifty 50 finished lower for the eight straight week on Thursday”
Market trend continues
If the losing trend continues next week, the Nifty 50 would end lower for the ninth straight week after a gap of 25 years.
“if the losing trend continues next week, the Nifty 50 would end lower for the ninth straight week after a gap of 25 years”
Key factors for Monday
Three factors may dictate the Opening Bell on Monday: Accenture results, new bank leadership, and petrol-diesel price hikes.
“The Opening Bell of the Indian stock market will be dominated by these three key factors that has happened over the weekends: Accenture's results, appointment of new CEO and MD at HDFC Bank and Kotak Mahindra Bank, and hike in the petrol and diesel prices”
Bank Nifty boost
New CEO and MD appointments at HDFC Bank and Kotak Mahindra Bank may boost Bank Nifty index.
“The new CEO and MD appointments at HDFC Bank and Kotak Mahindra Bank will provide some boost to the Bank Nifty index”
IT stocks reaction
Accenture's better-than-expected results may drive strong buying in Indian IT stocks.
“After the strong Accenture results, Indian IT stocks witnessed strong buying in the US stock market”
Petrol-diesel price impact
Petrol and diesel price hikes may benefit OMC stocks including Reliance Industries.
“Amid soaring crude oil prices, the petrol and diesel price hike would be a relief for the OMCs on the under-recovery front is a good sign for the OMC stocks”
Weightage analysis
HDFC Bank shares account for 11-13% of Nifty 50 and 26-29% of Bank Nifty.
“HDFC Bank shares command an outsized influence, accounting for roughly 11% to 13% of the Nifty 50 and between 26% and 29% of the Bank Nifty”
Reliance Industries impact
Reliance Industries shares own about one sixth strength in Sensex and 8.50% in Nifty 50.
“Reliance Industries Ltd (RIL) shares, which owns around one sixths strength in the Sensex and nearly 8.50% in the Nifty 50 index”
IT stocks weightage
IT stocks have around 10% weightage in Nifty 50 and 12% in Sensex.
“IT stocks have around 10% weightage in the Nifty 50 index and around 12% in the BSE Sensex”
Expected market movement
Combining all factors, the market may see a big upside opening on Monday.
“So, combining the positive impact of these three factors, around 47% weightage at the BSE Sensex (20% + 15% + 12%), around 35% (10% + 15% + 10%) weightage at the Nifty 50 index and 35% weightage at the Bank Nifty index is tilted towards a big upside opening”
Potential rally
The market may pull back up to 22,500 levels on Monday.
“The relief rally may push the Nifty 50 index up to 22,500 levels”
The main idea
Indian stock indices could rise Monday due to Accenture's strong results, new bank leadership, and petrol-diesel price hikes.
