Nifty closes above 16,600; Reliance, Bajaj Finserv and TCS emerge as top gainers

Energy, IT, and media closed higher while auto & financials are weak today.

Market update at 3.30 PM: Indices traded higher for most of the time while Nifty managed to close above 16,600. In the end, Nifty is up by 0.64 per cent while Sensex gained about 436 points. Nifty Midcap and Nifty Smallcap rose about 0.68 per cent & 0.61 per cent, respectively.  

Energy, IT, and media closed higher while auto & financials are weak today. Reliance, Bajaj Finserv, and TCS emerged as the top gainers while Apollo Hospitals, Eicher Motors, and HDFC were the top losers.   

Market update at 2.15 PM: Indices have been trading higher while Nifty is at its day’s high. The index is up by 0.67 per cent while Sensex has gained about 415 points. Nifty Midcap and Nifty Smallcap have surged less than half a per cent each.   

IT, media, and energy stocks are trading higher while auto & financials are weak.

Market update at 11 AM: Indices have been trading with volatility on the day of the weekly expiry. Nifty is down by four points while the mid-cap and small-cap indices are trading on a mixed note as they’re unable to find a clear trend.  

The stocks of Energy, IT, and PSU bank sectors are higher while FMCG & auto are weak. Reliance, TCS, and Bajaj Finserv became the top gainers while Hero MotoCorp, SBI Life, & HDFC Life are weak.  

Besides, the advance-decline ratio stands at 1,179:698.

Market update at 9.30 AM: Indices are trading flat amid volatility. Nifty is flat while Sensex has lost about 100 points. Meanwhile, the mid-cap and small-cap indices are marginally higher. 

India VIX has slipped over 3 per cent.

Pre-market update: Last night, the US markets closed lower. The investors bet that the latest economic data released does not indicate any ease in Fed's aggressive rate hike. US Manufacturing data picked up pace in May, hinting towards an imminent recession. Nasdaq slipped about 0.72 per cent while Dow Jones lost around 176 points.
With this, most of the Asian markets have opened lower. Hang Seng plunged over a per cent while KOSPI slipped 0.96 per cent. Meanwhile, SGX Nifty indicates a gap-down opening of about 80 points for Nifty.
In the last trading session, the FIIs have sold to the tune of Rs 1,930 crore while the DIIs bought about Rs 984 crore worth of equity.
Nifty is likely to open below 16,500 and volatility is expected to persist.