Market WRAP: Nifty and Sensex end flat: Media, realty gained while IT and FMCG plunged

Titan Company emerged as the top gainer after posting stellar Q2 numbers.

Market update at 3.30 PM: Indian indices closed on a flat note after a volatile session while Nifty managed to close above 17,300 level. The mid-cap, as well as small-cap indices, ended on a mixed note.   

Media & realty dominated among the sectors while IT and FMCG experienced weakness.   

Titan Company emerged as the top gainer after posting stellar Q2 numbers. Power Grid Corp and ONGC also emerged as the top gainers from Nifty 50 stocks. Tata Consumer Products, BPCL, and M&M were the top losers.   

All eyes would now be on the US non-farm payroll data set to be released later on Friday as this data would provide an estimation of Fed’s next move regarding the rate hike.   

Market update at 2.20 PM: Indices have been trading lower amid volatility. Nifty has recovered about 80 points from the day’s low and trades at 17,300 level. Sensex is currently down by 100 points while Nifty Midcap and Nifty Smallcap are trading on a mixed note.   

Media is trading higher while banks and metals are weak. Meanwhile, India VIX has slipped over 2 per cent during the day. 

Market update at 11.15 AM: Indices have seen pressure from higher levels as Nifty plunged below 17,300 level. Sensex has tanked 200 points so far while Nifty Midcap and Nifty Smallcap slipped 0.83 per cent & 0.29 per cent, respectively.   

The rupee hits a fresh all-time low against the US dollar and traded above the 82 level on Friday.   

Meanwhile, Titan Company, Bajaj Auto & Hero MotoCorp are the top gainers from Nifty 50 stocks while BPCL, Adani Ports, and SBI remained weak.   

The advance-decline ratio stands at 897:1021, which is strongly in the favour of bears.   

The 17,200 level holds strong support for Nifty and any fall below this level can trigger a severe sell-off. 

Market update at 9.30 AM: Indices have opened lower amid bad global cues. Nifty currently trades below 17,300 level and has slipped 0.37 per cent. Sensex has plunged 250 points while the mid-cap and small-cap indices also witnessed weakness.   

All the sectors are in red while banks and metals are the worst affected.  

Pre-market update: The US indices closed negatively on Thursday as investors await non-farm payroll data. Nasdaq fell 0.68 per cent while Dow Jones tanked 346 points. The Asian markets have opened lower, and SGX Nifty indicates a loss of 50 points.
Oil prices rose sharply after OPEC Plus decides to cut production by two million barrels per day, which has been the largest cut since 2020. Brent crude oil currently trades at USD 94 per barrel.
The FIIs bought shares worth Rs 279 crore in the last trading session whereas DIIs sold to the tune of Rs 43 crore.
Nifty is likely to open below 17,300 level while stock-specific action shall be in focus.