Nifty closes flat near 17,350; IndusInd Bank, Asian Paints and NTPC emerge as top gainers

IndusInd Bank, Asian Paints & NTPC emerged as the top gainers whereas UPL and Hero MotoCorp were the top losers.   

Market update at 3.30 PM: Indices closed flat amid volatility. Nifty hit a high of 17,390 but in the last half an hour, witnessed profit booking. The benchmark index closed higher by 5 points at 17,345 while Sensex gained 20 points. Nifty Midcap closed flat and Nifty Smallcap climbed 0.71 per cent each at the end of the day.   

PSU banks and FMCG supported the market but metals, realty & IT were weak.   

IndusInd Bank, Asian Paints & NTPC emerged as the top gainers whereas UPL and Hero MotoCorp were the top losers.   

Nifty closed flat but swung in both directions. Such volatility is expected as RBI MPC meeting nears.   

Market update at 11.15 AM: Indices have been trading lower amid volatility. Nifty slipped over half a per cent and Sensex lost about 250 points. Nifty Midcap is flat while Nifty Smallcap is up by half a per cent.  

PSU banks seem to support the market on Tuesday. SBI is currently the top gainer amongst Nifty stocks along with IndusInd Bank and ITC. Meanwhile, metals and realty are weak today. UPL, Hindalco, and Eicher Motors are the top losers for now.  

The advance-decline ratio stands at 1,097:806, favouring the advances. 

Market update at 9.40 AM: Indices have opened lower while Nifty slipped 0.18 per cent. Sensex has lost 20 points whereas Nifty Midcap and Nifty Smallcap are marginally higher. 

PSU banks, FMCG, and energy are higher but metals, auto & realty witnessed profit booking.  

Meanwhile, India VIX has surged 3 per cent. 

Pre-market update: Last night, the US markets slipped after investors chose slight profit booking after a strong rally. Nasdaq closed lower by 0.18 per cent while Dow Jones lost 46 points. 

With this, Asian markets have opened weak, and SGX Nifty indicates a gap-down opening of about 90 points.
In the last trading session, the FIIs bought for Rs 2,320 crore while the DIIs sold Rs 822 crore worth of shares.
Oil prices slipped further as recession fear looms. Brent crude oil slipped below the 100-mark.
Meanwhile, as the 5G spectrum concludes, Reliance Jio topped as the highest bidder. 

ITC profits soared 33 per cent in Q1 YoY while its revenue rose 39 per cent.
Nifty is expected to open around 17,300 and is likely to remain volatile ahead of RBI MPC meeting.