Nifty closes at 18,350 level; Sensex ends marginally higher, Adani stocks shine

Divi’s Laboratories, Bajaj Finserv and Eicher Motors were also among the top gainers from Nifty 50 stocks

Market update at 3.30 PM: Indices traded higher throughout the day, except for slight profit booking in the last half hour of Tuesday’s trading session. NSE Nifty 50 closed at 18,350 levels while S&P BSE Sensex gained 18.11 points. Nifty Midcap rose 0.63 per cent while Nifty Smallcap ended flat. 

Nifty Metal jumped 2.59 per cent to become the top performer, along with Nifty Media. Meanwhile, realty and IT ended marginally lower.  

Adani Enterprises surged over 13 per cent after the Supreme court gave a clean chit. Divi’s Laboratories, Bajaj Finserv and Eicher Motors were also among the top gainers from Nifty 50 stocks. Tech Mahindra, Apollo Hospitals and Grasim Industries were the top losers for the day.  

Nifty witnessed slight profit booking at higher levels and formed a bearish pin bar. 18,400 shall continue to be immediate resistance while 18,300 level shall be the next support.  

DSIJ offers a product 'Pop Options" with recommendations for profitable options based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the product details pdf here

Market update at 2 PM: Indices are showing strength from the morning session and are currently trading around the day’s high. NSE Nifty 50 index has jumped 0.48 per cent to trade at 18,405 levels while S&P Sensex has gained more than 200 points.

Nifty Midcap and Nifty Smallcap have risen 0.75 per cent and 0.36 per cent respectively.    

Adani Enterprises, Adani Ports and Divi’s Laboratories are the top gainers while Grasim, Kotak Mahindra bank and L&T are weak from the Nifty 50 stocks. 

India VIX surged more than 1 per cent today, about 1,226 stocks are advancing as against 776 stocks that are declining, thus showing positive market breadth.    

Market update at 11.30 AM: Indices have been trading on a higher note since the start of the day. NSE Nifty 50 index has jumped half a per cent to trade at 18,400 levels while S&P BSE Sensex has soared 200 points.  Nifty Midcap and Nifty Smallcap have risen 0.62 per cent each.   

All the sectors are trading positive. Such case has been seen after a long time. Metals, Pharma and IT stocks have seen strong buying interest.   

About 1304 stocks are advancing as against 674 stocks that are declining, thus indicating positive market breadth.  

Meanwhile, stocks like Adani Enterprises, Adani Ports, Divis Laboratories are the top gainers from the Nifty 50 stocks. Adani shares have surged over 25 per cent in the past 2 days following the following the clean chit from the Supreme court panel.  

Market update at 9.30 AM: Indices have been trading on a higher note amid positive global cues. NSE Nifty 50 index has jumped half a per cent to trade at 18,400 levels while S&P BSE Sensex has risen 200 points so far. NIfty Midcap and Nifty Smallcap  have surged 0.48 per cent and 0.14 per cent respectively.  

All the sectors are trading in green, with Metals and IT stocks seeing strong buying interest. India VIX has slipped marginally by 0.25 per cent.  

Pre- Market Update: Dow Jones Industrial Average dropped 140 points and closed 33,286-level, Nasdaq 100 Index also ended lower at 13,849 level, 0.34 per cent. 

Precious metals like Gold and Silver retraced the rally of last trading session and closed 0.4 per cent and 0.8 per cent lower respectively. Meanwhile Brent crude futures recovered strongly from day’s low and closed 0.08 per cent higher.

On Monday, both participants Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) supported the rally as they bought 922.89 crore and 604.57 crore in the equity segment. 

In Derivative segment as compared to last trading session, FIIs and PROs added longs while DIIs increased short position. There is no major change in Client's position. FIIs index long position came to 48.13 per cent from 47.64 per cent.

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

Important earnings to watch out for the day include JSW Energy Limited, Amara Raja Batteries Limited, Ashok Leyland Limited, Century Textiles & Industries Limited, Bikaji Foods International Limited, Dixon Technologies (India) Limited, Kirloskar Industries Limited, Metro Brands Limited, NMDC Limited, Polyplex Corporation Limited, Roto Pumps Limited, Tamilnadu Petro Products Limited, Varroc Engineering Limited