Broader markets underperformed the frontline indices; Nifty FMCG was sole gainer among the sectoral indices!

Talking about broader market indices, the broader market indices are seen underperforming the frontline index

Post-Market Update: The first day of the week ended in red with Nifty and Sensex down by 0.48 and 0.41 per cent, respectively. The Nifty and Sensex closed below level of 17,800 and 60,500. 

The broader markets witnessed severe selling pressure; as a result the broader markets underperformed the frontline indices. The Nifty Midcap and Smallcap saw a cut of nearly 1.5 per cent, respectively.   

Talking about the sectoral performance, barring Nifty FMCG, all other sectors ended in red with Nifty PSU Bank and Nifty Media plummeted 2.5 per cent, respectively.   

India VIX cooled off from the day’s high and gained more nearly 7.5 per cent.

Market update at 10:05 AM- As the day has progressed, the bears are seen tightening their grip as Nifty and Sensex are down by over half a per cent. The Nifty has slipped below its 17,750 mark.  

Talking about broader market indices, the broader market indices are seen underperforming the frontline index as Nifty Midcap and Small-cap index are down by 1.18 and 0.98 per cent, respectively.  

India VIX inches closer to the 14 mark and is up by over 9 per cent!  

Market Update at 9:30 AM- The Indian benchmark indices kicked off the fresh week on a flat note, however, after a flat opening, the bears seem to have an upper hand as the Nifty and Sensex both are in red terrain, down by 0.15 and 0.18 per cent, respectively.  

Talking about the sectoral performance, majority of the sectors are trading in red with Nifty IT losing more than a per cent, while on other hand, Nifty Metal is seen buoyant as it is up by 0.83 per cent.

Pre-market update: Wall Street indices ended on a mixed note on Friday after a spike in treasury yields spooked investors. Nasdaq slipped 0.61 per cent while Dow Jones gained 160 points. With US inflation data coming up this week, the Asian markets have opened on a cautious note and trends on SGX Nifty indicate a loss of 30 points.

Nykaa, ZEEL, Power Finance Corporation and Shree Renuka Sugars are set to declare results today. Stock specific action is likely to continue in the broader market.

Oil prices eased slightly ahead of US inflation data. Brent crude currently trades below USD 86 per barrel.

In the last trading session, the FIIs turned net buyers and bought shares worth Rs 1458 crore while the DIIs offloaded shares worth Rs 291 crore.

Nifty is likely to open around 17800 level and volatility is expected to persist throughout the day.