Nifty closes above 17,100; auto, IT and energy gain

BPCL, Eicher Motors, and Tata Motors emerged as the top gainers among Nifty stocks

Market update at 3.30 PM: Indices firmly closed higher while Nifty surged about 1.05 per cent to close at 17,136. Meanwhile, Sensex gained about 574 points. However, the mid-cap and small-cap indices closed on a mixed note.   

Among the sectors, auto, IT, and energy closed positively while media & metals closed weak. BPCL, Eicher Motors, and Tata Motors emerged as the top gainers among Nifty stocks while the ones that were weak include Bajaj Finserv, ICICI Bank, and Bajaj Finance. With such positivity, India VIX crashed by over 5 per cent.   

Nifty has formed an inside bar candle on the technical chart and is expected to consolidate with huge volatility in the upcoming days.   

Market update at 2.15 PM: Indices continue to trade higher amid volatility while Nifty is hovering around 17,100. It is currently up by 0.86 per cent while Sensex has gained over 480 points. Nifty Midcap and Nifty Smallcap are also trading strong.  

BPCL, Reliance & UltraTech Cement are currently the top gainers among Nifty stocks while Bajaj twins and LT are the top losers. India VIX has slipped about 3 per cent.  

The last hour of the session will be crucial as institutional participation is intensified during this time.

Market update at 11 AM: Indices have been trading higher amid volatility. Nifty is currently up by 0.80 per cent while Sensex has gained over 430 points. Meanwhile, Nifty Midcap and Nifty Smallcap have gained over 1.08 per cent & 0.72 per cent, respectively.  

Among the sectoral indices, Nifty Auto has outperformed the other indices and is up by over 2 per cent. Eicher Motors, Tata Motors, and Maruti Suzuki are currently the top gainers among Nifty stocks. However, Nifty Bank and Nifty Financial Services are marginally lower.   

India VIX has crashed by over 4 per cent with such positivity.  

Market update at 9.30 AM: Indices have opened higher amid good global cues. Nifty is currently up by 0.70 per cent while Sensex has gained over 350 points. Nifty Midcap and Nifty Smallcap are trading higher by nearly a per cent each. 

Among the sectors, energy, auto, realty, and media are trading in positive but banks are weak. 

With this, India VIX has slipped about 2 per cent.

Pre-market update: Last night, the US markets closed significantly higher. NASDAQ surged about 2.13 per cent while Dow Jones gained around 500 points.  

Crude oil has slipped about 5 per cent and is below the 110-mark. With good global cues, the Asian markets have opened higher and SGX Nifty indicates a gap-up opening of about 80 points for Nifty.  

In the last trading session, the FIIs have sold to the tune of Rs 5,871 crore, taking the tally over Rs 10,000 crore in just two days. However, the DIIs have bought to the tune of Rs 3,980 crore.  

With weakness persisting in the index, the first hour of the session shall be keenly watched to anticipate the trend in the market.