Markets closed in red for yet another session; Midcap and Smallcap index ended strong

Hero Moto Corp, IndusInd bank and ITC were the top gainers while Kotak bank, SBI Life and TCS were the top losers amongst Nifty 50 stocks.

Market update at 3.30 PM:  

Nifty traded weak throughout the day but somehow it recovered 66 points from day’s low in the afternoon session. Nifty closed 104 points below the closing level of last trading session at 18,181 level. 

S&P BSE Sensex also dropped more than 370 points lower at 62,560 level. Nifty Midcap 100 and Nifty Small cap 100 outperformed benchmark index as it closed 0.09 per cent lower and 0.5 per cent higher respectively. 

Realty and Media sector traded weak for the day while Auto and FMCG sector stocks remained neutrally positive.          

Hero Moto Corp, IndusInd bank and ITC were the top gainers while Kotak bank, SBI Life and TCS were the top losers amongst Nifty 50 stocks.      

Nifty witnessed selling pressure from yesterday and now it closed below 18,200 level. It witnessed some recovery from day’s low and it’ll be interesting to see if bulls can hold this level or not.   

Market update at 12 PM: Indices witnessed a strong sell-off amid weakness in real estate, financials and IT stocks. Nifty 50 index has slipped 0.75 per cent to trade below 18,200 levels while S&P BSE Sensex has lost over 400 points. Nifty Midcap and Nifty Smallcap have also shredded gains.   

Bajaj Finance and Bajaj Finserv have lost over 1.50 per cent each. TCS and HCL Technologies are also among the top losers from the Nifty 50 stocks.   

Market update at 11 AM: Indices have been trading under pressure amid poor global cues. NSE Nifty 50 index approaches 18,200 level and is down 0.35 per cent while S&P BSE Sensex has lost about 250 points. Nifty Midcap has slipped 0.27 per cent while Nifty Smallcap index is up 0.40 per cent. 

Real estate and IT stocks are the top draggers amongst the sectors, while auto index is the only sectoral index trading positive. 

About 979 stocks are advancing as against 961 stocks that are declining, thus showing mixed market sentiment. 

Hero MotoCorp, IndusInd Bank and UPL are the top gainers from the Nifty 50 stocks while HCL Technologies, Tata Consumer Products and Infosys are weak today. 

18,200 level happens to a strong support level for Nifty and price action at this level shall be keenly watched for the rest of the day. 

Market update at 9.30 AM: Indices are trading lower amid poor global cues. NSE Nifty 50 index has slipped 0.20 per cent to trade below 18,300 levels while S&P BSE Sensex has lost 100 points so far. Stock specific action continues in the broader market.  

PSU Banks have seen strong buying interest while IT and realty stocks are weak today. India VIX trades marginally lower at 13.25 levels. 

Pre- Market Update: Dow Jones Industrial Average witnessed strong selling pressure and closed 336.46 points lower around 33,012-level. Meanwhile, the Nasdaq 100 Index lost gains but managed to close in green at 13,426 level, up by 0.09 per cent. 

Precious metals like Gold and Silver dropped 1.36 per cent and 1.40 per cent respectively while Brent crude futures also closed lower, around 1 per cent. 

On Tuesday, Foreign Institutional Investors (FIIs) bought 1406.86 crore and Domestic Institutional Investors (DIIs) sold 886.17 crore in equity segment. 

In Derivative segment as compared to last trading session, Clients and DIIs increased longs while FIIs and PROs increased shorts position in index. Now FIIs index long position came to 48.94 per cent from 49.9 per cent.

According to SGX Nifty, Nifty is expected to open gap down more than 35 points. 

Important earnings to watch out for the day include Deepak Fertilizers and Petrochemicals Corporation Limited, Devyani International Limited, GIC Housing Finance Limited, Honeywell Automation India Limited, Jindal Saw Limited, JK Tyre & Industries Limited, Jindal Stainless Limited, Jubilant Foodworks Limited, Whirlpool of India Limited, Zydus Wellness Limited.