Indices close near days high; Hindalco and Tata Motors emerge as top gainers

Market update at 3.30 PM: Nifty & Sensex ended Wednesday’s trading session near the day’s high with Nifty gaining about 1.10 per cent while Sensex surged over 500 points. Nifty stayed strong the entire day, which was reflected in India VIX as it plunged 5.47 per cent! 

The top stocks supporting the market were Hindalco & Tata Motors while Power Grid Corp and SBI Life Insurance were the top losers among Nifty stocks. 

Thursday being the weekly expiry day, 17,000 will be a decisive level to watch out for!

Market update at 1 PM: Nifty is hovering around 16,900, surging about 0.8 per cent while Sensex has gained over 300 points. It is a broad-based rally as Nifty Midcap and Nifty Smallcap inched higher by 1.22 per cent & 1.71 per cent, respectively. Moreover, India VIX has fallen over 3 per cent!  

Realty, metals, and auto stocks have supported the market while Power Grid Corp & Wipro are the ones dragging the market.

Market update at 10.30 AM: Nifty sustains the gap-up and trades higher by 0.6 per cent while Sensex has gained about 300 points.   

Metro Brands has received a muted listing as it debuted on the exchange at a 12.8 per cent discount to its issue price.  

Nifty Realty and Nifty Auto are leading, gaining the most among the sectoral indices, which is about 2.10 per cent & 1.6 per cent, respectively.  

Tata Motors and IndusInd Bank emerged as the top gainers for Nifty in the first hour.  

Pre-market update: Asian markets opened higher on Wednesday morning amid good global cues, with SGX Nifty indicating about 100 points gap-up opening. Last night, the US markets ended positively with NASDAQ surging about 2.47 per cent and Dow Jones gaining over 500 points. The European markets ended in green too.  

In the last trading session, the FIIs sold for about Rs 1,209 crore while the DII bought figure worth Rs 1,404 crore; thus, propelling the market higher. 

All eyes would be on Metro Brands IPO as it debuts today on the exchange. It is expected to have a muted listing amid bad market sentiments.  

For this expiry, the highest open interest stands at 17,500-strike at call side while the 16,000-strike happens to have the highest put open interest and the PCR currently stands at 0.65.