Nifty closes above 18,000 led by realty, IT and auto stocks!

Nifty 50 ended at 18,015.85 with gains of 0.48 per cent

Post-Market Update: Markets staged a decent recovery in the second half of the trading session. Nifty 50 ended at 18,015.85 with gains of 0.48 per cent. 

IT stocks made a strong comeback after a weak start in the morning. Nifty IT index climbed 1.13 per cent to close at levels of 30,934.35. Tech Mahindra rallied 5.86 per cent. Other top gainers include Coforge, HCL Technologies, Wipro and Tata Consultancy Services. 

Adani Enterprises, Reliance Industries, Tech Mahindra and Adani Ports & Special Economic Zone were among the most active stocks by value.

Nifty FMCG and Pharma indices ended in the red territory.

Market Update at 1:20 PM: Nifty 50 and Sensex continue to trade flat. India VIX has recovered from its low of 11.28 recorded earlier in the session today and trades at 12.95. Nifty Infra index has thrust into the spotlight as the best performing sector. Top gainers of the index include Apollo Hospitals, Siemens, Ambuja Cements, Reliance Industries and ACC.  

Torrent Power saw its Q3FY23 net profit soar 86 per cent on a YoY basis to Rs 685 crore. Shares  of the same are trading with robust gains of ~9 per cent. Investors should keep an eye on shares of Computer Age Management Services (CAMS) as it has received approval from the RBI to operate as payment aggregator. 

Market update at 10:55 AM: Nifty is trading on a flat note at 17,930. Eicher Motors, Apollo Hospitals, Reliance Industries and Maruti Suzuki are among the top Nifty gainers while ITC, HUL, ONGC L&T and Britannia Industries are among the top losers.  

Buying activity is vibrant in Media and Metal stocks such as Dish TV, Inox, PVR, NMDC, NALCO and SAIL. 

On BSE, about 1665 stocks are advancing, as against 1482 stocks that are declining, while 169 stocks remain unchanged.

India VIX is down by 6 per cent at 12.64. 

Market Update at 9:25 AM: Amidst weak global cues, Indian benchmark indices kicked off the trading session on a negative note. Nifty 50 and Sensex are trading at levels of 17,869 and 60,808.8 respectively, down by ~0.35 per cent each. Majority of the sectoral indices are trading in the red territory except auto, realty and commodities.

The following companies reported a strong set of Q3FY23 results yesterday: PI Industries, Torrent Power, NMDC, Biocon, Prestige Estates, Aster DM Healthcare, EID Parry and GMDC. While ONGC, Apollo Hospitals, Vodafone Idea, Bata, HEG, CESC and Bata failed to impress the street with their quarterly financial performance. 

Keep a close eye on the above-mentioned stocks.

Pre market update: US equity markets closed on a mixed note on Tuesday on account of the Consumer Price Index (CPI) for the month of January coming in at 6.4 per cent, higher than the expected 6.2 per cent. Inflation in the US has been easing for 8 months in a row, however the pace of decline has not been very encouraging. The core inflation continues to remains sticky at 5.6 per cent.

Frontline index Nasdaq closed with gains of 0.57 per cent at 11,960.15. Stock of Tesla and Nvidia recorded healthy gains of 7.51 per cent and 5.43 per cent respectively. The Dow Jones Industrial Average index slipped 0.46 per cent to close at 34,089.40. The S&P 500 ended on a flat note ta 4,136.17, marginally down by 0.03 per cent. 

Yesterday, Indian equity markets saw decent buying activity. Data showed that FIIs and DIIs were net buyers worth Rs 1,305.3 crore and Rs 204.79 crore respectively. Nifty 50 recorded gains of 0.89 per cent to end the session at 17,929.8. However, midcap and Small-Cap indices underperformed broader markets.

At 8:50 AM, SGX Nifty is trading in the red territory at 17,865 down by 0.35 per cent indicating a lower start for indices today.