Nifty closes below 17,200; Infosys and HDFC twins emerge as top losers
Nifty FMCG outperformed the other indices and gained about 0.60 per cent. However, Nifty IT slipped about 4.58 per cent.
Market update at 3.30 PM: Indices recovered towards the end of the trading session. Nifty recovered about 120 points to close at 17,173.65. The benchmark index is down by 1.73 per cent while Sensex tanked about 1,172 points. Nifty Midcap and Nifty Smallcap lost about 1.05 per cent & 1.25 per cent, respectively.
Among the sectoral indices, Nifty FMCG outperformed the other indices and gained about 0.60 per cent. However, Nifty IT slipped about 4.58 per cent.
NTPC, SBI Life Insurance Company, HDFC Life, and Coal India emerged as the top gainers while Infosys, HDFC & HDFC Bank were the top losers. With this, India VIX surged about 8 per cent.
Nifty has formed a Doji-like candle near its 200-DMA. Interestingly, the index has closed above its key indicator despite falling below it initially. All eyes would be set on the global markets to understand the trend for tomorrow.
Market update at 2.30 PM: The indices have recovered from their day’s low. Nifty has recovered about 100 points but is still down by 1.76 per cent. Nifty Midcap and Nifty Smallcap are trading lower by nearly a per cent each.
FMCG, auto, and energy are trading higher while IT & banks remain weak. NTPC, SBI Life Insurance Company, and HDFC Life are currently the top gainers of Nifty.
Market update at 12.35 PM: Indices continue to trade lower amid volatility. Nifty is at its day’s low and hovers around the 17,100-mark, plunging 2 per cent. Sensex has tanked over 1,350 points while mid-cap and small-cap stocks are also facing the heat.
All the sectors are trading in the red. Nifty IT has fallen about 5 per cent while banking indices tumbled 2-3 per cent. Infosys is the top loser and has plummeted about 8 per cent while HDFC twins have lost over 4 per cent each.
Market update at 10.20 AM: Indices continue to trade lower amid volatility. Nifty is currently at its day’s low and is down by 1.91 per cent. Meanwhile, the mid-cap and small-cap indices also continue to show weakness. The indices are primarily dragged by IT, media, and banks while metals are marginally higher.
NTPC, Tata Steel, and SBI Life Insurance are the top gainers among Nifty stocks while Infosys, Tech Mahindra & HDFC are the top losers. With this, India VIX is inching towards the 20-mark.
Market update at 9.25 AM: Indices have opened significantly lower amid weak global cues. Nifty opened below 17,200 and is down by over 1.55 per cent while Sensex has lost over 1,000 points. Nifty Midcap and Nifty Smallcap are also down by over a per cent each.
All the sectors are weak today while Infosys and HDFC Bank slipped over 5 per cent & 2 per cent, respectively.
With this, India VIX has climbed over 14 per cent!
Pre-market update: Last Thursday, the US market fell drastically and NASDAQ plunged about 2.14 per cent while Dow Jones lost around 113 points. Last week, SGX Nifty lost points when the Indian market was closed and is currently, trading near 17,300 with a loss of about 30 points. Most of the Asian markets have opened lower and Nifty is likely to face a gap-down opening at the level of 17,300.
HDFC Bank declared its Q4FY22 results on Saturday. The net profit jumped about 23 per cent YoY while the net interest income has also risen over 10 per cent. The provisions got reduced while the asset quality improved. Thus, the stock would be in focus today.
Infosys declared its results during the after-market hours on Wednesday and is likely to see its aftermath today.
In the last trading session, the FIIs sold for about Rs 2,061 crore while the DIIs have bought about Rs 1,410 crore worth of equity.
Crude oil has jumped over USD 113 per barrel. This led to a panic situation among the investors amid rising inflation.
Nifty is likely to open near 17,300 while the first hour of the session will be keenly watched to anticipate further trends in the market.