Nifty at all-time high: Nifty closes above 18,600; FMCG and metals shine, realty falls
HUL, JSW Steel and Hero MotoCorp emerged as the top gainers from the Nifty 50 stocks while IndusInd Bank, Coal India and Bajaj Finserv were the top losers.
Market update at 3.30 PM: It was the day of large cap stocks as they outperformed the broader market. NSE Nifty 50 closed at an all-time high above 18,600 level while Sensex surged 180 points. However, profit booking was witnessed across midcap and Smallcap stocks as indices fell over half a per cent each.
FMCG and metals saw strong buying interest while realty remained weak.
HUL, JSW Steel and Hero MotoCorp emerged as the top gainers from the Nifty 50 stocks while IndusInd Bank, Coal India and Bajaj Finserv were the top losers.
The focus shall turn towards the western markets to anticipate the global trend, while a close watch will be on the updates coming from Beijing.
Market update at 11.30 AM: Indices have inched higher amidst strong buying sentiment. NSE Nifty 50 index has jumped half a per cent, while BSE Sensex 30 soared over 300 points. The midcap and Smallcap indices trade on a mixed note.
Nifty FMCG is the top performing sectoral index as it soared nearly 2 per cent. Meanwhile, media stocks and PSU Banks have seen slight profit booking.
About 1,125 stocks are advancing as against 818 stocks that are declining, thus indicating positive market breadth.
HUL, Hindalco and Nestle India are the top gainers from Nifty 50 stocks while IndusInd Bank, BPCL and PowerGrid are weak today.
Market update at 9.30 AM: Indices have been trading high at the start of the session despite weak global cues. Nifty is trading at a fresh all-time high and has jumped 0.31 per cent while Sensex has soared over 200 points. Midcap and smallcap indices are trading on a mixed note.
Metals and pharma have seen good buying interest while auto is weak. India VIX has lunged nearly 1 per cent.
Pre-market update: The global markets faced a sell-off amid rising social unrest in China due to stricter COVID policies. The major US indices have plunged 1.5 per cent in the last trading session, while Apple Inc and other auto stocks skidded on worries of production in China. The Asian markets have thus opened lower and SGX Nifty indicates a loss of 60 points.
Crude oil saw a jump amid production cut rumours from the OPEC+. Brent crude is currently trading above USD 83 per barrel.
In the last trading session, the FIIs and the DIIs, both turned net buyers as they bought shares worth Rs 935 crore and Rs 87 crore respectively.
Nifty is expected to open around 18,500 level and is likely to remain volatile amid weak global cues.