Indices close lower ahead of US CPI data; Hindalco, Coal India and UPL shine

Amongst Nifty stocks, Hindalco, Coal India, and UPL emerged as the top gainers while Bajaj Finance, NTPC & ONGC were the top losers

Market update at 3.30 PM: Indices closed lower ahead of important US CPI data. Nifty closed flat while Sensex shredded 35 points. Nifty Midcap and Nifty Smallcap slipped 0.15 per cent & 0.51 per cent, respectively.    

Metals and financials supported the market while IT & realty underperformed.   

Amongst Nifty stocks, Hindalco, Coal India, and UPL emerged as the top gainers while Bajaj Finance, NTPC & ONGC were the top losers. 

Nifty closed above the 17,500 level despite slipping below it initially. The focus shall shift towards the US market as investors await inflation data.  

Market update at 11.05 AM: Indices are trading with strong volatility. Nifty has recovered about 80 points from the day’s low and is trading flat. Sensex is down by 30 points while Nifty Midcap and Nifty Smallcap have slipped 0.15 per cent each.  

From Nifty stocks, Apollo Hospitals, Eicher Motors, and ICICI Bank have become the top gainers while Bajaj Finance, NTPC & ONGC are weak today.  

Banks & metals are trading higher while IT and energy underperformed.  

The advance-decline ratio stands at 929:997, which is slightly bearish.  

ABB India, Adani Enterprises, AIA Engineering, Coal India, and JK Paper are some of the stocks that have hit their respective 52-week high levels.   

Market update at 9.30 AM: Indices have been trading lower amid volatility. Nifty is down by 15 points while Sensex has lost about 100 points. Meanwhile, Nifty Midcap and Nifty Smallcap are also trading marginally lower.   

Pharma and financials are supporting the market while IT & media are weak today.  

Meanwhile, India VIX has surged nearly 4 per cent.   

Pre-market update: Last night, the US markets closed lower as investors chose to book profit ahead of the key US inflation data. Nasdaq slipped 1.19 per cent while Dow Jones lost 58 points. Thus, most of the Asian markets have opened lower, and SGX Nifty indicates a gap-down opening of about 50 points for Nifty.  

In the last trading session, the FIIs bought to the tune of Rs 1,449 crore while the DIIs sold for about Rs 140 crore worth of equity.  

The key companies that are set to declare their results today include Coal India, Eicher Motors, Hindalco, and Tata Consumer Products.  

Brent crude oil trades near the 96-level and continue to fall amid volatility.  

Nifty is likely to open near the level of 17,500 and volatility is expected to persist as investors await inflation data.