Nifty cracks in the last half an hour or so!

In the last half an hour or so, Nifty witnessed a sharp sell-off. As a result, it slipped nearly 180 points from the day’s high.   

Market Update at 03:12 PM: In the last half an hour or so, Nifty witnessed a sharp sell-off. As a result, it slipped nearly 180 points from the day’s high.   

Infosys and Reliance Industries were the key draggers of the index as they have combinedly contributed as much as 63 points to Nifty’s fall.   

Among the sectoral indices, Nifty Media & Nifty Bank were the top gainers while Nifty IT and Nifty Auto turned out to be the top losers.

Nifty opened with a gap-up of 47 points. The gap was immediately filled in the first five minutes of the session but then, it bounced back. It made a high of 17,572.35 before it pulled down. The first hour of the session was quite volatile as Nifty made the swing on either side.   

An interesting point to note here is that India VIX crashed 10 per cent, which is a good indication that the market might have bottomed out. Nifty Midcap and Nifty Smallcap indices are up by 0.5 per cent & 1.3 per cent, respectively.   

The sectoral indices i.e. auto, IT, FMCG, and pharma are negative while the metal, energy, realty, media & banking sectors are in green. Nifty PSU Bank turned out to be the top gainer among the sectors, which is up by 1.5 per cent.   

The top gainers early in the morning are ONGC, Adani Ports, Bharti Airtel, and NTPC while the top losers include Infosys, Maruti Suzuki, Divi’s Lab, and Bajaj Finserv. The overall market sentiment looks good for today as 1,405 are advancing while only 375 stocks are declining. Gold & silver are marginally up while crude and natural gas are down.

Stay tuned for more such market updates!