Nifty and Sensex end marginally lower; Britannia and Reliance among top Nifty gainers

  Apart from Energy and FMCG, all other sectors experienced weakness.

Market update at 3.30 PM: Indices traded on a mixed note amid volatility. NSE Nifty 50 index and S&P BSE Sensex ended marginally lower while Nifty Midcap and Nifty Smallcap plunged 0.36 per cent each.   

Apart from Energy and FMCG, all other sectors experienced weakness. Nifty PSU Bank and Nifty Realty fell over a per cent each.   

Stocks like NTPC, Britannia Industries and Reliance Industries emerged as the top gainers from the Nifty 50 stocks while Adani Enterprises, Apollo Hospitals and Coal India were the top losers.  

Nifty formed a bearish candle for the fourth consecutive session and indicates weakness at higher levels. For now, the zone of 18,000-18,200 acts as strong resistance zone while 17,700 shall be an immediate support for near term. 

Market update at 12.30 PM: Indices have experienced weakness at higher levels and have erased opening gains. NSE Nifty 50 is back at 17,800 level and trades marginally lower while S&P Sensex has lost over 300 points from day’s high. Nifty Midcap and Nifty Smallcap, too, trade on a negative note.   

Nifty PSU Banks have slipped over a per cent, along with Nifty Realty. India VIX has surged nearly 3 per cent amidst such volatility.   

Market update at 10.55 AM: Indices have been trading higher amid volatility. NSE Nifty 50 index has jumped 0.35 per cent to trade at 17,900 level while S&P BSE Sensex has soared over 200 points. Nifty Midcap and Nifty Smallcap have risen 0.30 per cent and 0.19 per cent respectively.  

Metals and private bank stocks have been good buying interest as the day progressed. The PSU Banks continue to remain under pressure amid Adani rout.  

About 1102 stocks are advancing as against 832 stocks that are declining, thus indicating positivity across the broader market.  

Stocks that have hit fresh 52-week high levels today are Siemens, Shree Cements, Triveni Turbines and Persistent Systems.  

Market update at 9.30 AM: Indices have been trading higher amid volatility, led by gains in metals and FMCG stocks. The Banking stocks have seen continued selling pressure and losses at the start of the session. NSE nifty 50 index has jumped quarter per cent to trade at 17,900 levels while S&P BSE Sensex has gained about 150 points. Nifty Midcap and Nifty Smallcap trade marginally higher.  

India VIX has soared nearly 3 per cent at the start of the session.  

Pre-market update: Amidst lack of global cues, the Asian markets have opened on a flat note. Hang Seng is up 40 points while Nikkei is down 15 points. The trading is tepid in the peer markets and trends on SGX Nifty indicate a positive opening of about 10 points.

Oil rises over a per cent after positive demand outlook from China. Brent crude settled above USD 84 per barrel.

In the last trading session, the FIIs turned net sellers and offloaded shares worth Rs 159 crore while the DIIs bought shares worth Rs 86 crore.

Nifty is expected to around 17,850 and first hour of price action shall be keenly watched to anticipate the trend of the market.