Indices end on a mixed note: Pharma, IT and metals shine; PSU banks drag

Cipla, Nestle, and Sun Pharma emerged as the top gainers while NTPC, Tata Consumer Products & Coal India were the top losers.   

Market update at 3.30 PM: Indices closed mixed in what can be said as one of the most volatile days in recent times as Nifty lost 6 points at the end of the day. Sensex slipped 50 points whereas Nifty Midcap rose 0.60 per cent. Nifty Smallcap plunged 0.36 per cent.   

Among the sectors, pharma, IT & metals were the top performers while PSU banks, along with realty were weak today.   

Cipla, Nestle, and Sun Pharma emerged as the top gainers while NTPC, Tata Consumer Products & Coal India were the top losers.   

Nifty recovered over 200 points from its intraday low after a sharp sell-off, which indicates strong support at lower levels. Meanwhile, Friday’s RBI meet shall dictate the market trend in the coming time.   

Market update at 12.55 PM: Indices have recovered from their day’s low while Nifty is hovering around the 17,300 level. It is down by half a per cent while Sensex has recovered about 400 points. Nifty Midcap and Nifty Smallcap have also witnessed recovery.   

Pharma and metals trade higher while Nifty PSU bank index tumbled over 2 per cent.  

Meanwhile, India VIX jumped more than 8 per cent.   

Market update at 11.40 AM: Indices witnessed a sharp sell-off as Nifty plunged below the 17,250 level. It has slipped over 1 per cent while Sensex tumbled over 700 points. Nifty Midcap and Nifty Smallcap are down by over half a per cent each.   

The 17,500 call option adds the highest open interest. Calls have been written aggressively while Put writing is minimal. 

Meanwhile, India VIX has jumped nearly 10 per cent

Market update at 11.15 AM: Indices have been trading flat amid volatility as Nifty slipped 25 points. Sensex lost 100 points while Nifty Midcap and Nifty Smallcap are trading on a flat note.  

The top trending stocks from Nifty 50 include Hindalco, JSW Steel, Cipla, Tata Steel, & Infosys while the ones that are weak include Tata Consumer Products, NTPC, Coal India, and SBI.   

Metals, IT, and pharma have outperformed today while realty & PSU banks are weak.  

The stocks from Adani Group like Adani Enterprises, Adani Power & Adani Total Gas have hit their respective 52-week highs along with Blue Dart, Deepak Fertilisers, ELGI Equipments, JK Paper, and PVR.  

The advance-decline ratio stands at 1,335:558 thereby, favouring the bulls.   

Market update at 9.30 AM: Indices opened higher on Thursday and Nifty has climbed 0.40 per cent. Sensex surged about 250 points while Nifty Midcap & Nifty Smallcap have soared 0.75 per cent each.    

IT, metals, and media are the top performers while FMCG & energy sectors are weak.   

Meanwhile, India VIX has surged nearly a per cent.   

Pre-market update: Last night, the US markets closed significantly higher. Nasdaq climbed 2.59 per cent to close at its highest since early May. Dow Jones also gained 416 points. Asian markets have opened higher amid positive sentiment and thus, SGX Nifty indicates a gap-up opening of about 50 points for Nifty.  

GAIL India, Adani Enterprises, Dabur India, and LIC of India are some of the key companies that are set to declare their results today.  

FIIs have bought to the tune of Rs 765 crore while the DIIs sold for about Rs 518 crore worth of equity in the last trading session.  

Crude oil has slipped further on recession fears while Brent crude is currently trading near USD 96 per barrel. 

Nifty is likely to open near 17,500 and volatility is expected to continue.