Nifty closes at days high for second consecutive day! Apollo Hospitals, Tech Mahindra and HDFC Life emerge as top gainers

The rally was prominent, led by IT, media, banks, and auto.

Market update at 3.30 PM: Indices close higher while Nifty ended above the 16,350-level. It has closed at the day’s high, climbing 1.13 per cent. Sensex closed higher by 632 points while Nifty Midcap & Nifty Smallcap surged about 1.38 per cent and 1.36 per cent, respectively.   

The rally was prominent, led by IT, media, banks, and auto. Meanwhile, energy and metals felt the weakness.   

Apollo Hospitals, Tech Mahindra, and HDFC Life emerged as the top gainers while ONGC, NTPC & Bharti Airtel were the top losers amongst Nifty stocks.  

Nifty formed a hammer-like pattern on the weekly chart and indicates positivity. The index needs to break the resistance of 16,400 to witness a further rally. 

Market update at 1.20 PM: Indices are trading higher and Nifty is up by 1.06 per cent. Sensex climbed over 580 points while the broader market has also witnessed a strong bounce.  

Tech Mahindra, Apollo Hospitals, HDFC Life, Bajaj Finserv, and Wipro are the top gainers amongst Nifty stocks while ONGC, JSW Steel, NTPC, Asian Paints & Tata Steel are weak today. 

Market update at 11.50 AM: Indices are trading higher amid volatility. Nifty is up by half a per cent while Sensex climbed 300 points. Moreover, Nifty Midcap and Nifty Smallcap are up by 0.80 per cent each.   

Tech Mahindra and Bajaj Finserv are the top gainers among Nifty stocks while ONGC & Asian Paints continue to trade lower.   

Paradeep Phosphates debuts at a 4.7 per cent premium above its issue price.  

Realty and metals are experiencing selling pressure while banks, IT & media continue to outperform.   

Market update at 9.45 AM: Indices trade higher while Nifty is up by 0.85 per cent. Sensex has gained about 440 points while Nifty Midcap and Nifty Smallcap have surged about 1.24 per cent & 1.70 per cent, respectively.  

All the sectors are in green while India VIX has slipped about 3 per cent. The sentiment is overall bullish.   

Pre-market update: Last night, the US markets closed higher. Nasdaq climbed over 2.68 per cent while Dow Jones gained about 516 points. With this, the Asian markets have opened higher, and SGX Nifty indicates a positive start for Nifty of about 90 points. 

In the last trading session, the FIIs have sold to the tune of Rs 1,597 crore while the DIIs bought about Rs 2,906 crore worth of equity thereby, propelling the market higher. 

The crude oil has climbed to USD 114 per barrel, giving rise to global inflation fears. 

Aether Industries IPO has been subscribed 6.26 times, led by QIB and non-institutional investors.  

Nifty witnessed a fantastic short-covering rally on Thursday. With the gap-up opening, it is expected to be trading positively as the day progresses.