Nifty ends above 18,000 post volatile session; IT and realty stocks shine!
Nifty 50 slipped in the second half of the trading session to close at levels of 18,035, up by 0.11 per cent
Post Market Update: Nifty 50 slipped in the second half of the trading session to close at levels of 18,035, up by 0.11 per cent. Interglobe Aviation, Tech Mahindra and Reliance Industries were the most active stocks by value in today's session.
Nifty Bank index recorded losses of 0.24 per cent to end at 41,631. Healthcare and commodity stocks staged a decent recovery.
KPIT Technologies, Persistent Systems, Blue Star, PG Electroplast, Supreme Industries and Apar Industries hit fresh 52-week high during the session.
Market update at 2:00 PM: Nifty is trading at levels of 18,080, down from day's high of 18,134.75. India VIX has bounced back and is trading at 13. Stocks of public sector entities such as Hindustan Aeronautics, Oil India, Bharat Electronics, NMDC and NALCO are buzzing on the bourses with decent gains. Heavy buying interest is being witnessed in mid-cap and small-cap stocks.
Auto stocks are underperforming broader markets. Top losers include Motherson Sumi Wiring, UNO Minda, Eicher Motors and Hero Motocorp.
On BSE, about 1,974 stocks are advancing, as against 1418 stocks that are declining, while 159 stocks remain unchanged.
Market Update at 10:50 AM: All sectoral indices are trading in green. Nifty IT is the best-performing sector. Tech Mahindra, Mphasis, L&T Technology Services and LTI Mindtree are trading with gains of more than 3 per cent each.
Realty stocks such as Prestige Estates, Sunteck Realty and Sobha are also witnessing healthy buying action. Mid-cap and small-cap indices are outperforming broader markets.
Market update at 9:30 AM: As anticipated, markets started the session on a positive note. Nifty 50 and Sensex are trading with decent gains of ~0.60 per cent each.
Top large-cap gainers comprise Apollo Hospitals, Tech Mahindra, ONGC, Adani Ports and Adani Enterprises. While, top large-cap losers Interglobe Aviation, ICICI Lombard General Insurance, Muthoot Finance, Grasim and SBI Life Insurance.
Nifty Banks is at levels of 41,933, up by 0.48 per cent, led by Federal Bank, Bank of Baroda, HDCF Bank and ICICI Bank. India VIX is trading flat at 12.68.
Pre market update: US equity markets closed on a positive note on Wednesday. All three headline indices i.e. Nasdaq, Dow Jones and S&P 500 closed in the green territory. Yesterday, Nifty 50 ended at 18,015.85 with gains of 0.48 per cent. More importantly, it crossed and closed over Budget 2023 day high 17978, which is a good sign for the bulls. Data showed that FIIs and DIIs were net buyers worth Rs 432.15 crore and Rs 516.64 crore respectively.
Index provider MSCI said on Wednesday it will postpone implementation of updates to weightings for two of India's Adani Group companies, Adani Total Gas and Adani Transmission, to the May benchmark review. The reversal of the updates to Adani Total Gas and Adani Transmission in the February index review will be reflected in the MSCI Index Product files starting from February16, 2023 as per MSCI.
MSCI will also apply a special treatment for all Adani Group's associated securities in the MSCI Equity Indices starting from February.
At 8:50 AM, SGX Nifty is trading at 18,118 up by 0.54 per cent indicating a positive start for indices today.