Indices snap 3-day losing streak; Sensex surges nearly 300 points as all sectors end in green

IndusInd Bank, Adani Enterprises and Tata Steel emerged as the top gainers from the Nifty 50 stocks

Market update at 3.30 PM: Indices closed the day on a positive note and snapped the 3-day losing streak. NSE Nifty 50 index surged half a per cent to close above 17,900 level. The benchmark index has formed a long legged Doji candle on the weekly technical chart and indicates indecisive trend. The level of 17,800 was held once again as Nifty bounced over 150 points from day’s low supported by PSU Banks, metals and IT stocks.  

S&P BSE Sensex surged nearly 300 pints to close above 60,000-mark whereas Nifty Midcap and Nifty smallcap ended on a mixed note.   

IndusInd Bank, Adani Enterprises and Tata Steel emerged as the top gainers from the Nifty 50 stocks while Titan Company, Apollo Hospitals and Nestle India were the top losers.   

Key companies are set to declare results at the weekend while global markets shall continue to be in focus. 

Market update at 2.15 PM: Indices are off day’s low as strong short covering rally pushes Nifty towards 18,000 levels. NSE Nifty 50 index has jumped 0.72 per cent while S&P BSE Sensex has gained 400 points. Nifty Midcap and Nifty Smallcap trade on a mixed note.  

All the sectors are now trading in green while India VIX has crashed over 4 per cent. 

Market update at 11.15 AM: Indices have been trading lower amid volatility. NSE Nifty 50 index has slipped 0.15 per cent to trade at 17,800 levels while S&P BSE Sensex has lost about 150 points. Nifty Midcap has plunged half a per cent while Nifty Smallcap trades on a flat note.   

Metals are the top performers amongst the sectors while FMCG and Pharma indices have plunged over half a per cent each.   

The broader market appears resilient as about 1013 stocks are advancing as against 926 stocks that are declining.   

Infosys has climbed over a per cent amid positive quarterly earnings.   

17,800 holds strong support for Nifty while 17900 shall act as immediate resistance.  

Market update at 9.35 AM: Indices have been trading on a mixed note amid volatility. Nifty and Sensex trade marginally lower while the broader market has seen good buying interest.

PSU Banks and metals are the top performers amongst the sectors while IT index has slipped over a per cent. India VIX plunged over 1 per cent. 

Pre-market update: The Wall Street ended higher in a volatile trading session on Thursday after inflation print in the US cooled off to 6.5 per cent in December as against 7.1 per cent a month ago. The tech-heavy Nasdaq climbed 0.64 per cent while Dow Jones Industrial Average rose 216 points. With this, most of the Asian markets have opened higher on Friday and trends on SGX Nifty indicate a gain of 50 points.

The local inflation also cooled off in the month of December as India's CPI slipped to 5.72 per cent versus 5.90 per cent in November.

In its recent quarterly earnings report, Infosys beat Street estimates as net profit surges 13 per cent YoY to Rs 6586 crore while margins also saw improvement.

In the last trading session, the FIIs offloaded shares worth Rs 1662 crore while the DIIs bought to the tune of Rs 2127 crore. 

Nifty is expected to open positively and intraday volatility is expected to persist along with stock-specific action.