Nifty ended highly volatile day on a flat note; Nifty PSU Bank lost 2 per cent!
Market Warp-up: Indian markets witnessed a roller-coaster ride on Monday as it witnessed a range of over 350 points, which is the highest in the last five trading sessions and also, greater than its 10-day average range.
From the lows of the day, Nifty recovered almost 250 points, though at higher levels, profit booking was quite evident as it ended off the day’s high.
The broader markets ended the day deeply in red terrain with Nifty Midcap 100 and Smallcap 100 underperforming the headline indices. Considering the underperformance of the broader market, the advance-decline ratio was in favour of decline.
Among the sectoral indices, barring Nifty IT and Financial Services, all other indices ended in the red.
Market update at 1.20 PM: Halfway through the mark, Nifty continues to hold its early gains as it trades above 17,100, up by 0.55 per cent. Meanwhile, Sensex is hovering around 57,500 and is up by 0.6 per cent. Nifty Bank is marginally up by 0.1 per cent and struggles to find the momentum.
The Nifty midcap and Nifty smallcap indices are bleeding and slipped by 0.62 per cent & 1.89 per cent, respectively. Among the sectoral indices, Nifty IT & Nifty Metal continue to be the top gainers whereas, Nifty Media is badly hit and plunged over a per cent. Besides, India VIX is trading flat at 20.87.
Market Update at 11:25 AM: Indian markets have extended their upmove with Nifty logging gains of about 100 points and trading above the 17,100 mark up by half a per cent. Meanwhile, Sensex is up by 0.66 and is seen inching closer to the 57,500 mark.
The broader markets are still bleeding red with Nifty Midcap 100 and Smallcap 100 plunging 0.79 per cent & 1.74 per cent, respectively.
Among the sectoral indices, Nifty IT and Metal were trading with robust gains while on the other hand, Nifty Media and Realty turned out to be the top losers.
Market Update at Market 09:55 AM:Indian benchmark indices have pared their early losses and were seen trading in green. Nifty is trading above the 17,000 mark while Sensex has reclaimed its 57,200 mark.
Advance-decline ratio improves slightly as 18 stocks were seen trading in green of Nifty 50 while 32 stocks were still trading in red.
Among the sectoral indices, Nifty IT and Metal were seen trading in green with modest gains while the rest of the sectors were seen trading in red with Nifty Realty being the top loser.
Indian markets tanked sharply on the first trading session of the week with Nifty and Sensex plunging about 0.94 & 0.83 per cent, respectively.
Only 8 stocks from Nifty 50 index were seen trading in the green while 42 stocks were trading in the red. Overall, the advance-decline ratio is skewed in favour of declines.
Among the sectoral indices, barring Nifty Pharma, all other sectoral indices were seen trading in the red.
Talking about the stock-specific action, Vodafone Idea is gaining a lot of traction as the stock is trading up by nearly 10 per cent with good volume activity seen in early deals.