Nifty closed just above 17,800; metals and energy stocks gain; IT drags
Coal India, IOC, and NTPC emerged as the top gainers
Market Update 3.30 PM: Indices closed lower on Wednesday. Nifty closed at 17,807.65, down by 0.83 per cent while Sensex lost about 566 points. Meanwhile, Nifty Midcap and Nifty Smallcap closed higher by 0.56 per cent & 0.12 per cent, respectively.
Among the sectors, metals & energy supported the market while IT and financials dragged. Coal India, IOC, and NTPC emerged as the top gainers while HDFC, HDFC Bank as well as HDFC Life turned out to be the top losers.
Market update at 2 PM: Indices are trading lower amid volatility while Nifty has slipped about 0.85 per cent. However, Nifty Midcap and Nifty Smallcap are trading marginally higher.
Among the sectors, metal & energy are outperforming the other sectors while IT and financials are weak. HDFC, HDFC Bank, and HDFC Life are the top three losers among Nifty stocks.
Amidst such an ongoing weakness, India VIX has surged over 3 per cent.
Market update at 10.45 AM: The indices have been trading lower since the start of the day while Nifty is nearing the 17,800 crucial support level. The benchmark index is currently down by 0.70 per cent while Sensex has lost about 500 points. Meanwhile, Nifty Midcap and Nifty Smallcap are trading higher by nearly half a per cent each.
Among the sectors, media, energy, and pharma are trading higher while IT, financials & auto stocks are trading weak. Meanwhile, India VIX has surged over 3 per cent.
NTPC, Coal India & UPL are currently the top gainers among Nifty stocks while HDFC twins and Axis Bank are the top losers.
Market Update 9.30 AM: Indices have opened lower and Nifty is currently down by 80 points or 047 per cent. Meanwhile, Sensex has lost about 318 points while Nifty Midcap and Nifty Smallcap are trading higher by half a per cent each.
Among the sectors, energy, metal & pharma are trading higher while financials, FMCG, and realty are weak today. With this, India VIX has surged over 2 per cent.
Pre-market update: Last night, the US markets fell drastically and NASDAQ slipped about 2.26 per cent while Dow Jones lost around 280 points as Fed Governor Lael Brainard hinted towards aggressive actions to control inflation. With this, the Asian markets have also opened lower, and SGX Nifty indicates a gap-down opening of about 150 points.
In the last trading session, both the FIIs as well as the DIIs bought Rs 374 crore and Rs 105 crore worth of equity, respectively.
Petrol and diesel prices have been hiked yet another time by 80 paise, taking the tally to Rs 10 in a little more than two weeks.
Crude oil continues to hover around the 105-mark amid volatility.
Nifty is likely to face a gap-down opening and the initial hour will be significant to anticipate the further trend of the market.