LIVE Share market update: Indices close at days low; Nifty slipped below 18,100 level, metals and media lose ground
Coal India, Power Grid Corporation and HDFC Bank were the top gainers from the Nifty 50 stocks
Market update at 3.30 PM: Indices close the week on a disappointing note as the benchmark indices slip amid lack of buying interest ahead of results. NSE Nifty 50 index plunged half a per cent to close below 18,100 level while S&P BSE Sensex lost 236 points. Nifty Midcap and Nifty Smallcap plummeted 0.78 per cent and 0.57 per cent.
Except for Banks, all other sectors experienced weakness. Media and realty were the top draggers in the broader market.
Coal India, Power Grid Corporation and HDFC Bank were the top gainers from the Nifty 50 stocks while HUL, Asian Paints and Bajaj Finance were the top losers.
Nifty formed a bearish candle on the daily chart and slipped below its prior day’s low, thus indicating weakness. Meanwhile, the corporate results shall be in focus along with the world markets.
Market update at 11.30 AM: Indices have been trading flat amid volatility. NSE Nifty 50 and S&P BSE Sensex are trading on a flat note, along with Nifty Midcap and Nifty Smallcap.
Stocks specific action is seen on the bourses as HUL dips over 2 per cent despite quarterly results on expected lines. Meanwhile, stocks like Coforge, Engineers India have seen strong buying interest. Reliance Industries and Kotak Bank are most active ahead of their quarterly earnings.
Banks and IT are the top performers amongst the sectors while metals and FMCG are weak.
About 1100 stocks are advancing as against 847 stocks that are declining, thus indicating slightly positive market breadth.
Market update at 9.30 AM: Indices have opened flat amid mixed global cues. The benchmark indices Nifty and Sensex are trading flat while stock specific action is seen in the broader market.
Banks are the top perfomers while pharma and FMCG are weak today. India VIX has surged nearly half a per cent.
Pre-market update: The Wall Street indices slipped yet another day on Thursday after a data suggested tight labour market in the US and fueled concerns of aggressive rate hikes by the Fed that could lead to recession. Nasdaq slipped nearly 1 per cent while Dow Jones Industrial Average plunged 250 points. With this, the Asian markets have opened on a mixed note and trends on SGX Nifty indicate a minor gain of 20 points.
Oil prices rally after a positive demand outlook from China. Brent crude oil currently trades at USD 86 per barrel.
HUL earnings: The FMCG giant reported 12 per cent YoY rise in net profit to Rs 2,505 crore and stood better than expected.
Reliance Industries, ICICI Bank, Kotak Mahindra Bank, JSW steel, HDFC Life Insurance company, SBI Life insurance company are some of the key companies set to declare results today and over the weekend.
In the last trading session, the FIIs turned net buyers and bought shares worth Rs 399 crore, while the DIIs offloaded shares worth Rs 128 crore.