Splendid recovery towards the end saw Nifty close near 16,200; ONGC, Axis Bank and IndusInd Bank emerge as top gainers

Among the sectors, realty, bank, metals, and media closed higher while IT, auto & FMCG closed on a weak note.

Market update at 3.30 PM: Indices witnessed a splendid recovery towards the end and Nifty recovered about 180 points to close at 16,167.10. The index was down by 0.45 per cent while Sensex lost about 276 points. Even Nifty Midcap and Nifty Smallcap slipped about 0.36 per cent & 2.91 per cent, respectively.   

Among the sectors, realty, bank, metals, and media closed higher while IT, auto & FMCG closed on a weak note. ONGC, Axis Bank, and IndusInd Bank emerged as the top gainers. On the other hand, Shree Cement, NTPC, and L&T were the top losers.  

On the technical chart, Nifty formed a hammer-like candle at the crucial support level of 16,000. Thus, this level shall act as strong support for a few more days.   

Market update at 2.15 PM: Indices are off from their day's low while Nifty has recovered about 180 points since its intraday low. Nifty Midcap and Nifty Smallcap have also seen a slight recovery.

Nifty Bank is trading in the green while the rest are in red. India VIX, which had surged over 6 per cent, cooled off by 3 per cent.

Market update at 1 PM: Nifty has broken all supports and slips towards the 16,000-level. It is currently down by 1.24 per cent while Sensex has lost over 700 points. Nifty Midcap and Nifty Smallcap are down by 1.84 per cent & 4.15 per cent, respectively.  

All the sectors are in red whereas India VIX has risen over 6 per cent.  

Around 173 stocks are advancing while 1,745 stocks are declining, which is a clear indication of bearish sentiment in the market.

Market update at 10.35 AM: Indices are trading at their day’s low while Nifty has witnessed a sharp fall towards the level of 16,100. The index is down by 0.87 per cent and Sensex has already lost about 550 points. Nifty Midcap and Nifty Smallcap are also weak.  

All the sectoral indices have turned red. With such a huge fall, India VIX has surged over 5 per cent.   

Asian Paints, HUL, Maruti, and Infosys are the top four losers among Nifty stocks. 

Market update at 9.30 AM: Indices have opened higher and Nifty is up by 32 points. Nifty Midcap and Nifty Smallcap are also marginally higher.  

Among the sectors, metal, energy, and media are trading higher while IT & pharma are weak. India VIX has slipped about a per cent. 

Pre-market update: Last night, the US indices closed mixed amid volatility. NASDAQ climbed nearly a per cent while Dow Jones lost about 84 points at the end of the day. Thus, the Asian markets are mixed, and SGX Nifty indicates a lower opening of about 8 points.  

Asian Paints’ net profit rose by just 0.5 per cent due to a rise in raw material prices. However, sales are up 20 per cent.  

Delhivery IPO opens today. The issue size is Rs 5,325 crore and the price band is set at Rs 462-Rs 487.  

In the last trading session, the FIIs sold to the tune of Rs 3,960 crore while the DIIs bought about Rs 2,958 crore worth of equity.  

Brent crude falls towards USD 101 per barrel after an ease in demand. 

Meanwhile, Nifty is likely to open flat and volatility is expected.