Markets to trade on Dhanteras; GIFT Nifty points to a weak start after Wall Street selloff

Friday, November 6, is Dhanteras, but trading on Indian stock markets will continue on the festival day. The market is expected to open lower today.

GIFT Nifty has also pointed to a subdued start for Indian equities. Compared with the previous close of Nifty futures, the Nifty was trading about 159 points, or 0.65%, lower, around the 24,440 level. This is being read as a sign of a slow start for the Indian market indices.

There was heavy selling on Wall Street on Thursday night. Asian markets then opened weak on Friday. Weakness has thus been signalled by overseas markets before the Indian market opens.

The picture was different a day earlier, on Thursday. The BSE Sensex closed 2,008.61 points, or 2.60%, higher at 79,310.01. The NSE Nifty 50 also rose 576 points, or 2.40%, to settle at 24,536.60. On Thursday the market extended its gains for a sixth straight session, with strong buying in the major indices.

Investors may keep an eye on several stocks in today's trade. These include Hindalco, Siemens, Aster DM Quality Care, Gland Pharma, Jubilant FoodWorks and Cholamandalam Financial Holdings. Investors may also watch Data Patterns (India), Great Eastern Shipping Company, Bharti Airtel, LIC, Titan Company and ONGC.

Glenmark Pharmaceuticals, Vedant Fashions, Texmaco Rail & Engineering, AstraZeneca Pharma India, Britannia Industries and Bikaji Foods International are also on the list.

For buying, experts have recommended three stocks: APL Apollo Tubes, Lenskart and Anthem Biosciences Limited.

Overall, after Thursday's rally, investors will be watching how the market moves today. Signals from GIFT Nifty and Asian markets point to weakness in early trade, while trading will continue on Dhanteras.