Markets ended strongly around day’s high; Adani group stocks emerged as star performers of the day

Sector's like Metal and IT traded strong while Private Banks remained weak for the day

Market update at 3.30 PM:  

Nifty witnessed follow-up buying after the strong recovery of last trading session. It rallied 111 points to close at 18,314 level. 

S&P BSE Sensex rose 95.99 points and closed at 61,734 level. Nifty Midcap 100 and Nifty Small cap 100 also rallied strongly and closed 0.63 per cent and 0.55 per cent higher respectively. 

Metal and IT sector traded strong while Private Banks remained weak for the day.    

Adani Port Special, Divis Lab and Tech Mahindra are the top gainers while Nestle India, Hero Moto Corp and Eicher Motors were the top losers amongst Nifty 50 stocks.      

Nifty engulfed the down move of last 3 trading sessions and closed above its high. Now, today’s low will act as a nearest technical support for upcoming sessions. 

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Market update at 11:15 AM: Indices have been trading on a higher note, thanks to the strong buying interest in the metals and IT stocks. NSE Nifty 50 index has jumped 0.57 per cent to trade at 18,300 levels while S&P BSE Sensex has risen over 200 points. Nifty Midcap has surged 0.45 per cent while Nifty Smallcap trades flat.   

Private Banks and media are slightly under pressure, which has been offset by Metals and IT stocks. India VIX now trades flat after cooling off 3 per cent from day’s high.   

About 1,105 stocks are advancing as against 899 stocks that are declining, thus showing positive market breadth.   

Adani Enterprises, Adani Ports and Divi’s Laboratories are the top gainers from the Nifty 50 stocks while Eicher Motors, Tata Motors and Hindalco are weak today.  

Market update at 9.30 AM: Indices have been trading on a higher note amid strong volatility. NSE Nifty 50 index has jumped 0.28 per cent to trade at 18,250 levels while S&P BSE Sensex has gained 150 points so far. Stock specific action continues in the broader market. 

IT and PSU Banks are the top performers while media stocks are weak today. India VIX has surged nearly 3 per cent upon opening.

Pre- Market Update: Dow Jones Industrial Average dropped 109 points and closed at 33,426-level, Nasdaq 100 Index also ended lower at 13,803.49 level, 0.22 per cent. 

Precious metals like Gold and Silver rebounded strongly from lower levels and closed 1 per cent and 1.58 per cent lower,  respectively. This action formed bullish candlestick pattern on daily charts. Meanwhile Brent crude futures witnessed some selling pressure on higher levels and closed 0.32 per cent lower.

On Friday, Foreign Institutional Investors (FIIs) sold 113.46 crore and Domestic Institutional Investors (DIIs) bought 1071.35 crore in equity segment. 

In Derivative segment as compared to last trading session, Clients, PROs and DIIs covered shorts while FIIs increased short position with unwinding their existing longs in index. Now FIIs index long position came to 47.64 per cent from 49.06 per cent.

Now, according to SGX Nifty, Nifty is expected to open gap down more than 20 points. 

Important earnings to watch out for the day include Aditya Birla Fashion and Retail Limited, Bharat Petroleum Corporation Limited, Camlin Fine Sciences Limited, CESC Limited, Gujarat Alkalies and Chemicals Limited, Indiabulls Housing Finance Limited, Ramco Industries Limited, SHREE CEMENT LIMITED, Spencer's Retail Limited, SJVN Limited.