Nifty closes at 17,700; ONGC, Tata Steel and NTPC shine

Energy, metals, realty, and financials closed higher while FMCG, pharma, media & IT ended on a weak note.

Market update at 3.30 PM: Indices closed the week on a higher note as Nifty rose 0.22 per cent to end at 17,700 while Sensex jumped 130 points. Nifty Midcap and Nifty Smallcap advanced 0.73 per cent & 0.25 per cent, respectively. On this positive day, India VIX crashed 4 per cent.

Energy, metals, realty, and financials closed higher while FMCG, pharma, media & IT ended on a weak note.
ONGC, Tata Steel & NTPC emerged as the top gainers amongst Nifty stocks while Divi’s Labs, Apollo Hospitals, and Infosys were the top losers.
Nifty closed positively for the fifth consecutive day, and with global sentiments turning positive, we can expect the benchmark index to test higher levels next week. 

Market update at 1 PM: Indices are trading higher as Nifty reclaimed the 17,700 level. It climbed 0.26 per cent and Sensex gained more than 150 points. The broader markets are outperforming while Nifty Midcap and Nifty Smallcap surged 0.75 per cent & 0.53 per cent, respectively.   

ONGC, Tata Steel, and NTPC turned out to be the top gainers as the sentiment on D-Street improves.

Market update at 11 AM: Indices witnessed strong buying interest at lower levels as Nifty recovered about 80 points from its intraday low and is trading almost flat. Sensex climbed 30 points while the mid-cap and small-cap indices are outperforming. Nifty Midcap and Nifty Smallcap inched higher by 0.75 per cent & 0.55 per cent, respectively.  

Realty and metals are supporting the market while IT & pharma are weak today. Meanwhile, ONGC has soared nearly 4 per cent ahead of its results and is the top gainer amongst Nifty stocks. Tata Steel and NTPC are also trading higher. Divi’s Labs, Apollo Hospitals, and Maruti Suzuki are weak today.   

The advance-decline ratio is in the favour of the bulls and is at 1,171:712. 

Immediate resistance for Nifty lies at 17,700 while the level of 17,600 is strong support

Market update at 9.30 AM: Indices are trading lower amid volatility as Nifty fell nearly 50 points. It hovers just above the 17,600 level while Sensex lost over 200 points. On the other hand, Nifty Midcap and Nifty Smallcap inched higher by 0.30 per cent & 0.15 per cent, respectively.  

Realty and metals are trading higher while IT, pharma & FMCG are weak.  

Meanwhile, India VIX has slipped over 2 per cent.  

Pre-market update: The US markets closed mixed as traders chose to book partial profit after a strong run-up witnessed lately. Nasdaq slipped 0.58 per cent whereas Dow Jones gained 27 points. Most of the Asian markets have opened cautiously while SGX Nifty indicates a higher opening of about 15 points.
India's CPI data for July is set to be declared today and shall be the prime focus of analysts.
In the last trading session, the FIIs bought to the tune of Rs 2,298 crore while the DIIs booked a slight profit as they sold equity worth Rs 729 crore.
ONGC, LIC of India, Grasim, Hero MotoCorp, Zee Entertainment, and Divi’s Labs are some of the key companies that are set to declare their results today.
Nifty is likely to open near 17,700, and a long weekend ahead is likely to see traders go easy on their positions.