Nifty closed below 17,700; HCL Tech, LT and Infosys emerge as top losers

Grasim, Adani Ports, and Cipla emerged as the top gainers

Market update at 3.30 PM: The benchmark indices closed lower amid volatility. Nifty closed below the 17,700-mark and is down by 0.62 per cent. Meanwhile, Sensex lost about 482 points while Nifty Midcap gained 0.62 per cent; Nifty Smallcap closed flat.  

Among the sectors, media & realty outperformed the others while IT and financials were weak today. Grasim, Adani Ports, and Cipla emerged as the top gainers while HCL Tech, Larsen & Toubro, and Infosys were the top losers today.   

India VIX surged 3.29 per cent despite such negativity. On the technical chart, Nifty has formed a bearish candle and closed near the day’s low, indicating weakness.   

Market update at 11.45 AM: Indices continue to trade lower amid volatility. Nifty is currently trading at the 17,700-mark and is down by 0.43 per cent. Meanwhile, Nifty Midcap and Nifty Smallcap are higher by 0.67 per cent & 0.51 per cent, respectively.  

Among the sectoral indices, Nifty IT and Nifty FMCG are weak while Nifty Energy & Nifty Metal are trading higher. 

Grasim, Adani Ports, and JSW Steel have become the top gainers of Nifty while Infosys, Wipro, and HCL Tech are weak today. With this, India VIX has surged over 6 per cent.  

Market update at 9.35 AM: Indices are trading lower amid volatility. Nifty is currently down by half a per cent while Sensex lost about 360 points. Nifty Midcap and Nifty Smallcap are, however, trading higher by nearly 0.75 per cent each.  

Among the sectors, realty & media are trading higher while financials and IT are weak today. TCS has fallen by nearly 0.61 per cent. 

With this, India VIX surged over 6 per cent. 

Pre-market update: Last night, the US markets closed mixed. NASDAQ slipped about 1.34 per cent while Dow Jones gained about 138 points. Most of the Asian markets have opened lower while SGX Nifty indicates a gap-down opening of about 80 points.

TCS is set to declare results today and thus, would be the stock to focus on!

In the last trading session, the FIIs have sold for about Rs 575 crore while the DIIs also sold about Rs 16 crore worth of equity.

Crude oil continues to hover near the 100-mark and is expected to remain volatile.

Nifty is expected to open near 17,700, which proved to be an important support level. Thus, this level shall be keenly watched!