Nifty and Sensex end marginally higher; PSU banks outperformed, Media slips

HDFC Life, Wipro and Tata consumer products are the top gainers while HDFC Life, UPL and HDFC Bank were the top losers amongst Nifty 50 stocks.    

Market update at 3.30 PM: 

Nifty closed near to opening levels at 17,769 level or 0.15 per cent.

S&P BSE Sensex closed to technical resistance of falling trendline at of 60,130. Nifty Midcap 100 closed in red around 0.09 per cent and Nifty Small cap 100 closed in green around 0.51 per cent.

Nifty PSU Banks and Energy sector traded strong while Media sector remained weak for the day.         

Bajaj finance, Britannia and IndusInd Bank are the top gainers while HDFC Life, UPL and HDFC Bank were the top losers amongst Nifty 50 stocks.     

Nifty closed just below the important technical level of 17,800, decisive move above this level will start fresh rally.
 

Market update at 10.55 AM: Indices have recovered from their day’s low amid strong buying interest seen in financials and metal stocks. NSE Nifty 50 index has jumped 0.18 per cent to trade near 17,800 levels while S&P BSE Sensex has soared about 100 points. Nifty Midcap is trading flat while Nifty Smallcap has surged 0.65 per cent. 

Nifty PSU Bank has surged 1.50 per cent and is the top performer amongst the sectoral indices, followed by Nifty Metals and Nifty Energy. Meanwhile, pharma stocks are seen slightly under pressure. 

About 1,280 stocks are advancing as against 665 stocks that are declining, thus showing positive market sentiment. 

Adani Enterprises, Bajaj Finance and Bajaj Finserv are the top gainers from the Nifty 50 stocks while HDFC Life Insurance, UPL and Sun Pharma are weak today. 

17,800 happens to be the immediate resistance for Nifty while day’s low of 17,716 shall be the crucial support level

Market update at 9.45 AM: Indices have been trading on a mixed note amidst strong volatility. NSE Nifty 50 index and S&P BSE Sensex are trading on a flat note while stock specific action continues in the broader market.

PSU Banks and realty stocks are the top performers while Nifty IT is seen to be under pressure. India VIX is placed at 11.66 level.

Pre-market update:    

Dow Jones Industrial Average closed on the higher side of the consolidation range around 66 points or 0.20 per cent higher at 33,875 level. Nasdaq 100 Index again closed flat, around 0.24 per cent lower at 12,969 level.  

In global commodities, Gold and Silver closed green after recovering from lower levels around 0.33 per cent and 0.23 per cent higher respectively. 

Brent crude futures rebounded from yesterday’s low and closed around days high by rallying around 1 per cent.  

In Monday's trading session, FIIs sold Rs 412.27 crore and DIIs bought Rs 1177.18 crore in equity segment. 

In Derivative segment as compared to previous session, Clients and DIIs shorts positions slightly increased while PROs added shorts heavily in index future and on the flip side, FIIs increased their longs in index. Now FIIs index long position came to 43.79 per cent from 39.31 per cent. 

Nifty breached last 3 days consolidation range and closed above it which is a strong sign for bulls. Now SGX Nifty indicates Nifty likely to open nearly flat with positive bias. 17,800 will be next technical resistance to watch on higher side.