Nifty closes above 17,200; FMCG and energy gain

HUL, HDFC Life & UPL emerged as the top gainers

Market update at 3.30 PM: Indices have closed higher amid volatility. In the last hour, some profit booking was seen as Nifty fell about 80 points from its day’s high. Nifty surged 1.21 per cent to close at 17,245.05 and Sensex gained about 700 points. Nifty Midcap and Nifty Smallcap also closed higher by 0.60 per cent & 0.36 per cent, respectively.  

Among the sectors, FMCG and energy closed higher while media remained weak throughout the day. HUL, HDFC Life & UPL emerged as the top gainers while Bajaj Auto, M&M, and Hindalco were the top losers.   

With this, India VIX slipped about 6 per cent. Nifty formed a bullish candle and closed above its 200-DMA. However, we might see Nifty trade around its 200-DMA for quite some time. 

Market update at 2 PM: Indices are trading at their day’s high and Nifty has surged over 1.31 per cent. Meanwhile, Sensex has gained over 780 points while Nifty Midcap and Nifty Smallcap are marginally higher.   

Among the sectors, FMCG and energy are trading higher while Media is weak. HUL, HDFC Life, and Asian Paints are currently the top gainers while Bajaj Auto, Hindalco & Bharti Airtel are the top losers.   

India VIX has slipped further by over 6 per cent.   

Market update at 11.55 AM: Indices are trading higher amid volatility. Nifty is currently at its day’s high and is up by 0.72 per cent. Meanwhile, Sensex has gained over 440 points while Nifty Midcap and Nifty Smallcap are flat.  

Among the sectors, pharma, energy, and FMCG are trading higher while media & realty are weak. 

Reliance, Infosys, and L&T have contributed the most to Nifty rally while Hindalco, Bajaj Auto & Bajaj Finance are weak.   

India VIX has slipped over 3 per cent while the overall sentiment looks bullish.   

Market update at 9.50 AM: Indices trade higher amid volatility. Nifty is up by 0.33 per cent and hovers at the 17,100-level while Sensex has gained around 180 points. Meanwhile, the mid-cap and small-cap indices are marginally higher.  

Among the sectors, pharma and metals are trading higher while media is weak today. HUL is up by a per cent whereas Bajaj Finserv is marginally down.  

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

Pre-market update: Last night, the US markets closed marginally higher. NASDAQ closed flat while Dow Jones closed marginally higher by 61 points. 

Most of the Asian markets have opened in green and SGX Nifty indicates a flat opening for Nifty. 

Crude oil continues to trade in the range of USD 102-105 per barrel. 

In the last trading session, the FIIs have sold to the tune of Rs 4,064 crore while the DIIs bought to the tune of Rs 1,917 crore. 

HUL’s profit grew by 8.6 per cent YoY while its revenue stood at Rs 13,462 crore. The FMCG giant is likely to be in focus today. 

Axis Bank, Bajaj Finserv, SBI Life insurance company, etc. are set to declare results today. 

Nifty is likely to open flat on the day of the expiry, and stock-specific action shall be watched.