Indices closed on a mixed note: Mid-cap and small-cap stocks outperform; Apollo Hospitals emerge as top gainer
Apollo Hospitals, Bharti Airtel, and NTPC emerged as the top gainers while Bajaj Finserv, Tata Consumer Products & Britannia were the top losers.
Market update at 3.30 PM: Indices closed mixed on a volatile day as Nifty ended on a flat note. Sensex lost 50 points while Nifty Midcap and Nifty Smallcap climbed 0.58 per cent & 0.29 per cent, respectively
Metal and energy were the top performers while FMCG & banks remained weak.
Apollo Hospitals, Bharti Airtel, and NTPC emerged as the top gainers while Bajaj Finserv, Tata Consumer Products & Britannia were the top losers.
Meanwhile, Nifty had a range-bound day of 177 points but volatility is likely to persist for some more time, given the uncertain global economic developments.
Market update at 12 PM: Indices are trading mixed amid volatility. Nifty is trading flat while Sensex surged 70 points. Meanwhile, Nifty Midcap and Nifty Smallcap jumped half a per cent each.
PSU banks and energy are the top-performing sectors while IT remains weak.
From Nifty 50 stocks, Bharti Airtel, Apollo Hospitals, and NTPC are the top gainers whereas Bajaj Finserv, Britannia & HUL are weak today.
Meanwhile, some stocks like Ashok Leyland, Bank of Baroda, BEL, ITC, and NTPC have hit their respective fresh 52-week high levels.
For Nifty, a move above 17,700 shall be deemed positive while the next resistance level is placed at 17,800.
Market update at 10 AM: Indices are off their day’s high amid selling pressure at higher levels. Nifty and Sensex are trading flat amid volatility while buying continues in the mid-cap as well as small-cap stocks.
Energy and media are the top performers while IT & financials are weak today.
DreamFolks IPO makes a stellar debut as it opens at a premium of over 50 per cent from its issue price.
Market update at 9.30 AM: Indices have opened higher as Nifty is trading above the 17,700 level. Sensex climbed 200 points while Nifty Midcap and Nifty Smallcap are up by half a per cent each.
Energy and media are trading higher while IT is weak. Meanwhile, India VIX has slipped over 2 per cent.
Pre-market update: The European markets slipped in the last trading session as the energy crisis weighed on investors' sentiment. DAX fell over 2 per cent while CAC lost more than a per cent. The US markets were closed on account of US National Labor Day.
The sentiment in Asia is positive; hence, many Asian markets have opened higher. SGX Nifty also indicates a cheerful opening of 50 points.
Crude oil price jumped over 4 per cent amid rising concern of supply cut by OPEC+. Brent crude oil currently trades at USD 94.79 per barrel.
In the last trading session, the FIIs sold to the tune of Rs 811 crore while the DIIs bought shares worth Rs 533 crore.
DreamFolks IPO is set to debut on the exchanges today. A healthy listing gain is expected.
Nifty is likely to open above the level of 17,700 and the first hour of price action shall be watchful.