Indices end near day's low; all sectors close in red

HDFC Life, Tata Consumer Products, Kotak Mahindra Bank, and HDFC Bank emerged as the top gainers

Market update at 3.30 PM: Indices witnessed a sharp sell-off in the last one hour of the session. Nifty fell from the level of 17,370 to 17,100 during this period and ultimately, closed lower by 0.863 per cent. Sensex tanked 460 points while Nifty Midcap and Nifty Smallcap slipped 0.84 per cent & 1.16 per cent, respectively. 

All the sectors closed in red amid profit booking. Market participants were reluctant to hold weekend positions, which got reflected in the last one hour.   

HDFC Life, Tata Consumer Products, Kotak Mahindra Bank, and HDFC Bank emerged as the top gainers while Axis Bank, Coal India & Adani Ports turned out to be the top losers.  

Meanwhile, India VIX closed marginally higher. 

Nifty formed a bearish candle and ended the week on a weak note. All eyes would be on the global market to anticipate further trends. 

Market update at 2.25 PM: Indices have lost their gains and are trading in the red. Nifty lost about 170 points from its intraday high and is hovering at 17,250. Meanwhile, Nifty Midcap and Nifty Smallcap have also turned negative. 

India VIX, which had slipped over 5 per cent, has recovered a bit but is still down by one per cent.

Market update at 2 PM: Indices have been trading higher amid volatility while Nifty is up by half a per cent. Sensex has gained about 300 points while mid-cap and the small-cap indices are also trading higher.  

Financials, pharma, and FMCG are trading higher while media is performing weak today. HDFC, HDFC Bank, HDFC Life, and Tata Motors are the top gainers currently while Axis Bank, Power Grid Corp & Bajaj Auto are the top losers.  

Market update at 11.30 AM: Indices have been trading higher amid volatility. Nifty has gained about 0.52 per cent while Sensex climbed around 300 points. Nifty Midcap and Nifty Smallcap continue to trade higher.   

Nifty Pharma, Nifty Realty, and Nifty Metal support the market while Nifty Media has fallen over a per cent. HDFC Life, Dr Reddy’s Laboratories, and Tata Steel are the top gainers among Nifty stocks while Axis Bank, Adani Ports & Wipro are weak.   

Stock-specific action continues as Varroc gained about 20 per cent after it completes the sale of its four-wheeler business to Plastic Omnium for 600 million euros. Shriram Transport jumps over 7 per cent after reporting better-than-expected quarterly numbers.  

Meanwhile, India VIX has slipped over 4 per cent with such positivity.   

Market update at 9.45 AM: Indices are trading higher. Nifty is currently up by 0.40 per cent while Sensex has gained over 250 points. Nifty Midcap and Nifty Smallcap indices are also marginally higher. 

Among the sectors, pharma and PSU banks are trading higher while FMCG & media are flat. 

With this, India VIX has slipped over 2 per cent. 

Pre-market update: Last night, the US markets closed significantly higher with NASDAQ surging about 3 per cent and Dow Jones gaining around 615 points. With this, the Asian markets have opened higher, and SGX Nifty indicates a gap-up opening of about 80 points for Nifty. 
The FIIs had turned net buyers on Thursday and bought to the tune of Rs 743 crore while the DIIs also bought for Rs 780 crore. 
On Thursday after the market hours, Axis Bank declared its Quarterly Results wherein, net profit rose 54 per cent YoY on a sharp fall in provisions while NII gained 17 per cent. 
Meanwhile, Bajaj Finserv's net profit increased 37 per cent YoY. Besides, the company declared Rs 4 per share as a dividend. 
Maruti Suzuki, IndusInd Bank, Wipro, and UltraTech Cement are some of the key companies that are set to declare their results today. 
Nifty is likely to open near the 17,300-level while stock-specific action will continue.