Market WRAP: Nifty, Sensex end marginally lower; Media and FMCG take a hit

Hindalco, Apollo Hospitals and Tata Motors emerged as the top gainers from the Nifty 50 stocks while Dr Reddy’s Laboratories and ITC were the top losers.

Market update at 3.30 PM: The broader indices ended on a mixed note, after Nifty 50 and Sensex ended marginally lower while midcap and Smallcap stocks outperformed the largecap stocks. NSE Nifty 50 index slipped 0.11 per cent while Sensex dropped 70 points.   

Metals and realty emerged as the top performers while media and FMCG witnessed profit booking.   

Hindalco, Apollo Hospitals and Tata Motors emerged as the top gainers from the Nifty 50 stocks while Dr Reddy’s Laboratories and ITC were the top losers.   

All eyes would be now on the local CPI data set to be released later in the evening. The inflation is widely expected to fall below 7 per cent.

Market update at 12 PM: Indices have been trading on a mixed note amid volatility. The broader indices NSE Nifty 50 and BSE Sensex are marginally lower while midcap and Smallcap indices are seen outperforming the broader benchmark indices. 

Metals have seen strong buying interest. Hindalco and Hindustan Zinc are up over 4 per cent. Media and pharma appear to be under pressure.  

Hindalco, Tata Motors, Apollo Hospitals and Grasim are the top gainers from the Nifty 50 stocks while Dr Reddy’s Labs, ITC and HUL are weak.   

The advance decline ratio currently stands at 972:1000, indicating indecisiveness.   

Stock specific action continues to be the theme on D-street, while stocks like Adani Enterprises, Akzo Nobel, Allcargo Logistics, GE Shipping and Cochin Shipyard have hit a fresh 52-week high. 

Market update at 9.30 AM: Indices have opened higher amid positive global cues. NSE Nifty 50 index has jumped 0.23 per cent and is trading near the 18,400 level while BSE Sensex has surged 100 points. Strong buying is seen across midcap and Smallcap stocks.

Metals and IT have seen a strong demand and are leading the rally, while media and pharma stocks are weak today.  Meanwhile, India VIX has jumped over 3 per cent.

Pre-market update: The US markets rallied during a volatile Friday session, as investors remained confident after the inflation cooled down slightly in the month of October and expect easing of Fed rate hikes. Nasdaq climbed 1.88 per cent while Dow Jones gained 33 points. Thus, most of the Asian markets have opened higher on the back of such positivity and trends on SGX Nifty indicate a gain of 50 points.

India's industrial output grew to 3.1 per cent in September, which beat Street estimates. It is expected to improve in the upcoming months.

Meanwhle, RBI governor Shaktikanta Das expects inflation to fall below 7 per cent in October and expects the central bank to combat effectively against it.

ONGC, Grasim industries, Apollo Tyres, Bharat Forge and IRCTC are some of the key companies set to declare results today.

In the last trading session, the FIIs and the DIIs turned net buyers and bought shares worth Rs 3958 crore and Rs 615 crore, respectively.

Nifty is expected to open around 18,400 and price action at higher levels shall be keenly watched by the traders.