Nifty closes above 15,500 amid volatility; Maruti, Eicher Motors, and Hero MotoCorp emerge as top gainers

The auto sector remained firmly in green and Maruti, Eicher Motors, Hero MotoCorp and M&M emerged as the top gainers amongst Nifty stocks.

Market update at 3.30 PM: Indices closed higher amid volatility at the end of the day. Nifty bounced back sharply in the latter half of the session and closed higher by 0.93 per cent. Sensex surged about 443 points while Nifty Midcap and Nifty Smallcap rose by 1.21 per cent & 1.31 per cent, respectively.  

The auto sector remained firmly in green and Maruti, Eicher Motors, Hero MotoCorp and M&M emerged as the top gainers amongst Nifty stocks. All sectors closed in green except Nifty Energy, which closed lower by 0.42 per cent. Reliance Industries, Coal India, and Power Grid Corp were the top losers of the day.   

Nifty closed above 15,500 and has been consolidating in the range of 15,350-15,700. Meanwhile, the global markets shall continue to be in focus.

Market update at 12.55 PM: Indices are trading with strong volatility as they wipe out all the early gains and are now, marginally negative. Nifty slipped 2 points from its previous day’s closing and has lost about 225 points from its intraday high. Nifty Midcap and Nifty Smallcap have also turned flat.  

Apart from the auto and realty sectors, all other indices are trading weak. Nifty Energy is down over a per cent.   

The advance-decline ratio is now at 1,148: 749, tilting towards the favour of bears.  

Nifty stocks such as Coal India, Power Grid Corp, and Reliance turned out to be the top losers, all from the energy sector. 

Market update at 12 PM: Indices have witnessed selling pressure at higher levels while Nifty slipped about 100 points from its intraday high of 15,628.

 Meanwhile, Nifty Midcap and Nifty Smallcap have also witnessed weakness but are now up by 0.70 per cent each. 

Auto and realty stocks continue to trade higher while most of the energy stocks have lost points.  

Market update at 10.30 AM: Indices trade higher amid volatility. Nifty inched higher by 1.15 per cent while Sensex has gained about 580 points. Nifty Midcap and Nifty Smallcap have surged over 1.40 per cent each.  

All the sectors have turned positive. Auto, media, and financials are frontrunners in supporting the market. India VIX has fallen over 1.25 per cent.  

Hero MotoCorp, Tata Motors, and Maruti Suzuki have become the top gainers amongst Nifty stocks while Apollo Hospitals, Power Grid Corporation & Titan Company are the top losers.   

The advance-decline ratio stands at 1,606:280, indicating that the bulls are in control of the market.   

Market update at 9.20 AM: Indices are trading flat after opening slightly higher. Nifty climbed 10 points while Nifty Midcap and Nifty Smallcap are also trading marginally higher.   

Among the sectors, auto and IT stocks are higher while realty & energy stocks witnessed selling pressure. Meanwhile, India VIX is flat.  

Pre-market update: Last night, the US markets closed marginally lower amid volatility. The US Fed chairman in his testimony to US Banking State Committee said that Fed is fully committed to fighting inflation and not putting the economy into recession.  

With this, the US indices rallied and closed nearly flat after opening gap-down. 
Most of the Asian markets have opened higher and SGX Nifty indicates a gap-up opening of about 60 points for Nifty. 
Crude oil fell further towards USD 110 per barrel. S&P Energy index plunged over 4 per cent. Thus, we can expect energy stocks to be under pressure today. Keep an eye on Reliance, ONGC, IOC, Chennai Petroleum Corporation, etc. 
In the last trading session, the FIIs have sold to the tune of Rs 2,920 crore while the DIIs bought about Rs 1,859 crore worth of equity. 
Nifty is likely to open above 15,450 while the first hour shall be keenly watched to decide the further trend of the day.