InvestorQ : What is your outlook for the Nifty and the Sensex for 19 October, Monday? Do you see the Sensex breaking above the 40,000 mark?
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What is your outlook for the Nifty and the Sensex for 19 October, Monday? Do you see the Sensex breaking above the 40,000 mark?

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diksha shah answered.
1 month ago
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While the Sensex breaking above the 40,000 mark is quite likely, what is tougher is Nifty breaking above the 12,000 mark. That is a more significant level to watch out for because that is the level that will actually give you an indication that the trend has reversed.

On Friday, Nifty struggled to bounce back after the sharp fall on Thursday and closed the week well below the psychological 12,000 mark. During the previous week, most of the frontline stocks like RIL, TCS and HDFC Bank were among the value losers.

There are no macro cues and stimulus is ruled out for the time being. In the absence of any macro cues, the quarterly results and specific micro cues will become material. Some of the big stocks are likely to react to the results last week.

On the foreign investments front, FPIs were net sellers to the tune of Rs.480 crore while DFIs sold Rs.430 crore on Friday. Overall, in the month of October till date, FIIs continue to be buyers while domestic institutions have sold over Rs.7500 crore.

On Friday global markets were in the positive with European markets gaining anywhere between 1.5% and 2%. While the NASDAQ and the Dow were almost flat on Friday, the SGX Nifty is trading in the green by 60 bps and that could be positive for market sentiments.
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