Nifty closes marginally lower; banks gain, realty drags

JSW Steel, Coal India, and Grasim emerged as the top gainers

Market update at 3.30 PM: Indices traded with volatility throughout the day. In the end, Nifty closed lower by 0.37 per cent while Sensex lost about 185 points. Nifty Midcap closed flat while Nifty Smallcap closed higher by 0.28 per cent.  

Sectoral performances were mixed. Banks, along with metals, traded higher while realty continued to show dismal performance.  

JSW Steel, Coal India, and Grasim emerged as the top gainers while Bajaj Auto, Apollo Hospitals & Hindalco remained weak. 

Nifty closed above 16,500, which is a positive sign. Meanwhile, the index is trading in the range of 16,400-16,700 while a breakout on either side shall decide the further trend of the index.  

Market update at 2.20 PM: Nifty witnesses a fall below 16,500 and is down by 0.64 per cent. Sensex lost about 350 points while the mid-cap and small-cap indices are marginally down.  

Bajaj Auto, Bajaj Finserv, and Hindalco are the top losers. On the other hand, JSW Steel, Coal India, and M&M are supporting the market.  

Market update at 11.45 AM: Indices are trading flat amid volatility and Nifty has gained about 15 points. The mid-cap and small-cap indices are trading higher by over half a per cent each.  

Banks and metals are trading higher while realty & auto stocks have fallen. The advance-decline ratio stands at 1,269:611, suggesting a bullish sentiment.  

JSW Steel, NTPC, and Tata Consumer Products are the top gainers among Nifty stocks while Apollo Hospitals and Bajaj Auto are weak today.   

Market update at 9.30 AM: Indices are trading flat amid volatility. Nifty opened flat and has gained about 35 points since then. Nifty Midcap and Nifty Smallcap are higher by 0.60 per cent & 1 per cent, respectively.  

FMCG, realty, and auto sectors are higher whereas energy is marginally negative

Pre-market update: Last night, the US markets closed lower. Nasdaq slipped about 0.41 per cent while Dow Jones lost around 222 points. With this, most of the Asian markets have opened lower and SGX Nifty indicates a muted opening of about 30 points for Nifty.

Oil prices have surged, following the EU-Russian oil ban thereby, causing a rise in hyperinflation.

In the last trading session, the FIIs sold to the tune of Rs 1,003 crore while the DIIs bought about Rs 1,845 crore worth of equity.

Nifty is likely to open near the level of 16,500, which shall act as good support for the index.