Nifty closes below 16,100; Eicher Motors, Hindalco and Infosys emerge as top losers
NTPC, Shree Cement, and Coal India were the top gainers while Eicher Motors, Hindalco & Infosys were the top losers.
Market update at 3.30 PM: Indices closed nearly at their day’s low. Nifty fell nearly a per cent while Sensex lost about 508 points. Nifty Midcap and Nifty Smallcap also slipped about 0.45 per cent & 0.42 per cent, respectively.
Among the sectors, energy closed higher while realty ended flat. FMCG, financials, auto, and metals saw severe profit-booking towards the end.
NTPC, Shree Cement, and Coal India were the Top Gainers while Eicher Motors, Hindalco & Infosys were the Top Losers.
Market update at 12 PM: Indices have been trading lower amid volatility and Nifty has slipped about 0.66 per cent. Meanwhile, Nifty Midcap and Nifty Smallcap are also marginally down by about 0.10 per cent each.
All the sectors are trading negatively except energy. Nifty Energy is higher by 0.85 per cent. Meanwhile, metal, FMCG, media, and auto indices witnessed profit-booking.
NTPC, Adani Ports & Apollo Hospitals are the top gainers whereas Hindalco, Eicher Motors, and Titan Company are the top losers amongst Nifty stocks.
The advance-decline ratio is currently 1:1, meaning to say that the equal number of stocks is advancing as well as declining.
Market update at 9.30 AM: Indices have opened lower and Nifty is down by half a per cent. Sensex has lost about 228 points while the Mid-Cap & Small-Cap indices are trading flat.
Energy stocks are higher early in the morning while metals & financials witnessed profit booking. Meanwhile, India VIX has surged about a per cent.
Pre-market update: Last night, the US markets closed lower amid inflation worries. Nasdaq slipped over 2.25 per cent after Elon Musk cancelled Twitter deal. Meanwhile, Dow Jones fell 164 points. Most of the Asian markets have opened lower, and SGX Nifty indicates a gap-down opening of about 100 points.
The key stock to focus on today includes HCL technologies as it is set to announce its earnings today.
In the last trading session, the FIIs sold to the tune of Rs 170 crore while the DIIs also turned out to be the net sellers, having sold for about Rs 296 crore worth of equity.
Crude oil slid after China considered restrictive COVID lockdown. Besides, Brent crude currently trades at USD 106 per barrel.
Nifty is likely to open near 16,100 and thus, this shall act as an important support level.