Indices witnessed strong recovery; Media and Realty sector contributed the most

IndusInd Bank, HDFC Life and Power Grid were the top gainers while UPL, Hindalco and Dr Reddy’s Lab were the top losers amongst Nifty 50 stocks

Market update at 3.30 PM:   

After the selling pressure of initial hours, Nifty recovered 100 points from day’s low and closed around the opening level at 18,315.  

S&P BSE Sensex closed 178 points higher at 61,940 level. Nifty Midcap 100 and Nifty Small cap 100 also recovered from day’s low and closed nearly flat.   

DSIJ offers a product 'Pop Stock" with recommendations for intraday trading based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the product details pdf here

Media, Auto and Realty sector traded strong for the day while PSU Banks and Metal sector stocks remained weak.           

IndusInd Bank, HDFC Life and Power Grid were the top gainers while UPL, Hindalco and Dr Reddy’s Lab were the top losers amongst Nifty 50 stocks.       

Today, Nifty witnessed a volatile trading session with strong recovery. Nearest important technical support will be 18,200 level. Further move can be expected if bulls managed to surpass today’s high decisively.

Market update at 2.40 PM: Indices have been trading on a mixed note amid strong volatility. Nifty is back near 18,300 levels while Sensex is up 80 points. Stock specific action continues in the broader market.

PSU Banks are the worst performers while media stocks have seen fresh buying interest, along with energy and FMCG stocks. Meanwhile, India VIX is up 4 per cent.

Market update at 10.25 AM: Indices have been trading on a weaker note amid strong volatility. NSE Nifty 50 index has slipped quarter per cent to trade below 18,300 levels while S&P Sensex has lost 130 points so far. Nifty Midcap and Nifty Smallcap have plunged 0.50 per cent and 0.30 per cent respectively.   

Nifty PSU Bank have witnessed strong sell-off as its shredded over 2 per cent. Meanwhile, NBFC and private banks are also under pressure along with pharma stocks.   

IndusInd Bank, ONGC and Britannia Industries are the top gainers from the Nifty 50 stocks while UPL, SBI and Dr Reddy’s Laboratories are weak today.   

About 753 stocks are advancing as against 1,159 stocks that are declining thus showing negative market sentiment.   

18,200 happens to be immediate support for Nifty while the zone of 18,300 and 18,320 shall be the next resistance.   

Market update at 9.30 AM: Indices have been trading higher amid global cues. NSE Nifty 50 index is up 0.22 per cent to trade at 18,300 levels while S&P BSE Sensex has jumped 135 points. Nifty Midcap and Nifty Smallcap trade marginally higher.  

Auto and FMCG stocks are the top performers while PSU Banks remain weak. India VIX is up half a per cent. 

Pre-market update: Dow Jones Industrial Average traded in a range for the day. It closed 56-points higher at 33,561-level. Meanwhile, the Nasdaq 100 Index closed around the day’s low at 13,201 level 0.68 per cent which was also a yesterday’s low.  

Gold witnessed some buying interest and closed in green around 0.6 per cent. Silver also traded positive and closed around 0.2 per cent, while Brent crude futures recovered from day’s low and closed 0.8 per cent higher. 

On Tuesday, Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) bought 1942.19 crore and 404.70 crore respectively in equity segment. 

According to SGX Nifty, Nifty is expected to open gap up around 30 points. Nearest psychological and technical support zone will be 17,900 – 18,000 level.  

Important earnings to watch out for the day include Dr Reddy, Escorts, Gujarat gas ltd, LT and Bosch.