Nifty closes above 17,600; realty, media and financials lead the rally

Apollo Hospitals, IndusInd Bank, and ONGC emerged as the top gainers while BPCL, Divi’s Labs & Tata Steel were the top losers today.   

Market update at 3.30 PM: Indices closed higher on Wednesday as Nifty climbed 0.16 per cent while Sensex gained 54 points. Buying was seen in the broader market as Nifty Midcap and Nifty Smallcap indices rose 0.74 per cent & 0.82 per cent, respectively.  

Realty, media & financials were the top contributors while IT and pharma were weak.   

Apollo Hospitals, IndusInd Bank, and ONGC emerged as the top gainers while BPCL, Divi’s Labs & Tata Steel were the top losers today.   

Nifty’s close above 17,600 is positive. Meanwhile, US Fed Chairman’s statement is likely to be in focus at Jackson Hole meeting scheduled today.  

Market update at 11.05 AM: Indices have been trading with volatility since the start of the session. Nifty is up by 0.15 per cent while Sensex has gained 75 points. Meanwhile, the broader indices are outperforming the benchmark indices. Nifty Midcap and Nifty Smallcap have climbed 0.42 per cent & 0.79 per cent, respectively. 

Realty, media, and energy have emerged as the top supporters of the market while IT & pharma are weak today. 

IndusInd Bank, Apollo Hospitals, ONGC, and NTPC are the top gainers amongst Nifty stocks while Divi’s Labs, Bharti Airtel & BPCL are weak today. 

The advance-decline ratio stands at 1,368:520, which indicates positive sentiment in the market. 

Besides, stocks like Adani Transmission, BEL, Bharti Airtel, and ITC have hit their respective fresh 52-week highs today. 

The sustenance, which is above 17,600 for Nifty, shall be deemed positive while intraday volatility is expected to persist. 

Market update at 9.30 AM: Indices have been trading on a mixed note post opening. Nifty has fallen by a quarter per cent while Sensex lost about 125 points. Besides, Nifty Midcap is flat whereas Nifty Smallcap is up by half a per cent. 

Realty and media are supporting the market while energy is under pressure. Meanwhile, India VIX is flat. 

Pre-market update: The global markets closed negatively amid volatility on Tuesday. The European markets slipped quarter to half per cent while Dow Jones lost 154 points. Besides, Nasdaq closed on a flat note.
The FIIs emerged as net buyers in the last trading session and bought to the tune of Rs 563 crore while the DIIs sold shares worth Rs 215 crore.

Meanwhile, Adani launches an open offer to purchase a 29.18 per cent stake in NDTV.

Crude oil jumps over 4 per cent as possibilities of OPEC are likely to cut supply.

Nifty made a stellar rally towards at the end of the previous trading session. Besides, it is expected to see strong support at lower levels.