Nifty at all-time high: Nifty closes above 18,500, Sensex soars over 200 points as energy and auto rally
Nifty 50 index hit a fresh all-time high of 18,614.25 on an intraday basis, which was previously marked at 18,604.
Market update at 3.30 PM: The broader indices marched higher despite bad global cues. The star performances came from the midcap and Smallcap indices which jumped nearly 1 per cent. NSE Nifty 50 index rose 0.27 per cent to close above 18,550 levels while BSE Sensex 30 jumped 200 points.
Nifty 50 index hit a fresh all-time high of 18,614.25 on an intraday basis, which was previously marked at 18,604.
Energy and auto stocks led the rally while metals underperformed.
Top gainers from the Nifty 50 stocks were BPCL, Reliance and Hero MotoCorp, while the top losers were Hindalco, JSW Steel and Apollo Hospitals.
The global cues shall continue to be in focus, with a close watch over the oil prices and COVID updates coming from China.
Market update at 12.15 PM: The broader indices have witnessed strong recovery from lower levels. NSE Nifty 50 index has jumped 0.42 per cent to trade at 18,600 level while BSE Sensex has soared over 320 points. Strong buying sentiment is seen across midcap and Smallcap stocks as Nifty Midcap and Nifty Smallcap jumped 0.75 per cent and 1 per cent respectively.
Energy, IT and auto stocks are trading higher while metals have witnessed some profit booking.
About 1,340 stocks are advancing while 646 stocks are declining.
Stocks that have hit fresh 52-week high levels are BHEL, Cummins India, IRFC, Power Finance Corporation and REC Ltd.
Nifty is currently about 15 points away from claiming a fresh all-time high on intraday basis.
Market update at 9.40 AM: Indices have been trading on a mixed note at the start of the session. NSE Nifty 50 and BSE Sensex are trading flat whereas good buying interest has been observed in midcap and Smallcap space.
Auto and energy stocks have rallied while metals and banks are weak today. Meanwhile, India VIX has surged nearly 2 per cent.
Pre-market update: The Asian markets have opened lower amid social unrest in China due to strict COVID policies from the past few days. The mismanagement of COVID curbs from the second largest economy has hurt social peace as well as investors' sentiment. Hang Seng has crashed over 4 per cent. Meanwhile, SGX Nifty indicates a negative opening of about 100 points for Nifty.
Crude oil plunges further amid stricter COVID policies in China. Brent crude has slipped to USD 83 per barrel.
In the last trading session, the FIIs have bought shares worth Rs 369 crore while DIIs have sold to the tune of Rs 295 crore.
Nifty is expected to remain volatile given bad global cues, while stock specific action shall conitnue to be in focus.