Indices close higher, led by metals, IT, media, FMCG, and realty

Nifty Metal was the star performer as it surged nearly 5 per cent at the end of the day.

Market update at 3.30 PM: It was a positive day for the Indian market as the indices recovered sharply from their day’s low. Nifty surged about 0.81 per cent at the end of the day to close just below 16,800. Meanwhile, Sensex gained about 340 points. It was a broad-based recovery as Nifty Midcap and Nifty Smallcap closed about 0.97 per cent & 0.59 per cent higher, respectively.  

Among the sectoral indices, Nifty Metal was the star performer as it surged nearly 5 per cent at the end of the day. Meanwhile, IT, media, FMCG, and the realty indices also closed higher.  

However, India VIX surged about 6.84 per cent and closed at 28.57. With the Indian market being closed on Tuesday, the focus will be on geopolitical tensions and also on crude oil to anticipate the further trends in the market.  

Market update at 12.45 PM: The Indian indices have continued to gain points along with witnessing a sharp recovery at lower levels. Nifty is in positive territory, climbing 25 points. It has recorded the day’s high at 16,734. Meanwhile, Nifty Midcap and Nifty Smallcap are trading flat.  

India VIX is still up by 6 per cent. Nifty Metal emerged as the top performer among the sectoral indices, after soaring nearly 4 per cent. Besides, Nifty IT is up by over half a per cent.   

Among Nifty stocks, Hindalco, Tata Steel & JSW Steel turned out to be the top gainers while HDFC Life, Eicher Motors, and Dr Reddy’s Labs are trading lower.   

Market update at 11.15 AM: Indices witnessed a remarkable recovery and are off from the day’s low. Nifty is currently down by just 60 points and has recovered over 200 points. Meanwhile, both Nifty Midcap and Nifty Smallcap are trading slightly negative.  

Nifty Metal has been trading strongly by nearly 3 per cent whereas Nifty Realty and Nifty IT are trading flat. India VIX is seen cooling off and is currently up by 5 per cent, which was over 8 per cent in the first hour of the session. 

Tata Steel, JSW Steel & Hindalco emerged as the top gainers among Nifty stocks while HDFC Life, Eicher Motors, and Axis Bank turned out to be the top losers.  

Market update at 10 AM: It has been a dismal start for the Indian indices on Monday. Nifty slipped 1.38 per cent while Sensex has shredded about 800 points. Even Midcap and Smallcap indices are trading lower by over 1 per cent each. 

With pressure mounting on the sectoral indices as well, India VIX has soared over 8 per cent. Auto stocks along with banking stocks have experienced a severe sell off.  

Nifty is below 16,500, and the situation is broadly bearish. 

Pre-market update: The US markets closed significantly higher on Friday night. However, the news flow during the weekend from Eastern Europe continued to be mixed.  

Meanwhile, the US and other European nations have barred Russian banks from SWIFT while Russian statement regarding nuclear combat has not been taken well. Thus, uncertainty remains a problem for global stock markets. 

With this, the Asian markets opened mixed while SGX Nifty indicates a lower opening of about 20 points. 

In the last trading session, the FIIs sold for about Rs 4,470 crore while the DIIs have bought around Rs 4,310 crore worth of equity. 

Crude oil has risen by nearly 5 per cent on Monday morning while the precious metals are trading higher by nearly 1 per cent. 

The uncertainty confines to loom in the stock market and volatility shall continue to thrive for the next few days.