Market WRAP: Nifty closes above 17,800; Cipla, Sun Pharma and Apollo Hospitals emerge as top gainers
All the sectors closed positively with pharma, metal, and auto emerging as the top performers.
Market update at 3.30 PM: Indices witnessed selling pressure towards the end as Nifty closed above the 17,800 level. The benchmark index jumped 1.10 per cent while BSE Sensex climbed 578 points. Nifty Midcap and Nifty Smallcap rose 1.43 per cent & 1.11 per cent, respectively.
The top gainers from Nifty 50 stocks were Apollo Hospitals, Cipla, and Sun Pharma whereas the top losers included Nestle, Shree Cement & Grasim industries.
All the sectors closed positively with pharma, metal, and auto emerging as the top performers.
Nifty has closed above 17,800 and is a positive sign, which more or less indicates limited downside from here. Meanwhile, global cues shall continue to be in focus as US Federal Reserve meet approaches.
Market update at 11.30 AM: Indices have extended their gains as Nifty climbed 1.41 per cent while Sensex surged over 800 points. Nifty Midcap and Nifty Smallcap rose 1.97 per cent & 1.43 per cent, respectively.
All the sectors are in green. Nifty Auto, Nifty Metal, and Nifty IT have risen over 2 per cent each.
Amidst such positivity, only buyers were seen at Macpower, Sikko Industries, Ram Ratna Wires, and Jindal Worldwide.
Stocks hitting fresh 52-week high levels include Adani Ports, Ambuja Cements, Bharti Airtel, ITC, and Maruti Suzuki.
Market update at 9.35 AM: Indices have opened positively, led by good global cues. Nifty is currently above the 17,800 level and is up by 1.16 per cent. Sensex has climbed 665 points while strong buying is seen across the mid-cap as well as the small-cap stocks.
All the sectors are trading in the green while India VIX has crashed by over 4 per cent.
Pre-market update: A good short-covering rally was witnessed in the US indices in the previous trading session as Dow Jones recovered over 500 points from the day's low. Nasdaq rose 0.76 per cent as traders chose to cover shorts ahead of the US Federal Reserve meeting.
With this, most of the Asian markets have opened higher, and SGX Nifty indicates a gap-up opening of about 150 points for Nifty.
In the last trading session, the FIIs emerged as net buyers and bought to the tune of Rs 312 crore while the DIIs sold shares worth Rs 94 crore.
Crude oil tumbled on Monday amid recession fears. Brent crude now trades at a sub-92-level while WTI Crude price stands at 85.58 level.
The 10-year bond yields have reached the highest level since 2011 before the expected Fed interest rate hike.
Meanwhile, Nifty is likely to open above 17,700 but volatility is expected to persist.
Related articles
-
Market WRAP: Nifty and Sensex close marginally higher on weekly expiry day; Nifty PSU Bank soars nearly 4 per cent!
-
Market WRAP: RBI applied brakes to the Nifty rally; Sensex plunged over 200 points as metals and realty take a hit
-
Nifty closes at all-time high; Midcap and Smallcap indices outperform as media, realty and auto rally
-
Market WRAP: Nifty closes above 18,100; Sensex soars 150 points as metals and PSU Banks shine
-
Market WRAP: Splendid recovery, in the end, led Nifty to close above 17,700; metal, energy and realty lead the rally
-
Market WRAP: Nifty closes above 17,500; FMCG and banks shine, IT and metals drag the market
-
Market WRAP: Indices close at days low; Sensex falls 638 points as metals, FMCG and auto stumble
-
Market WRAP: Nifty and Sensex close in red; financials drag
-
Market WRAP: Indices end at their days low; Sensex closes below 60,000 as media, IT and realty drag the market
-
Market WRAP: Nifty closes at 18,200 level; Sensex tanks 635 points, Pharma outshines
-
Nifty closed above 18,400 levels; Sensex surged nearly 500 points as auto, FMCG and metals shine
-
Nifty forms an inside bar on weekly chart; Nifty PSU Bank gains nearly 5 per cent for the week!
-
Market WRAP: Indices close lower ahead of RBI meet; PSU Banks and FMCG outperform
-
Market WRAP: Nifty, Sensex end flat; PSU Banks and metals outperform, IT slips
-
Nifty at all-time high: Nifty closes above 18,800; Hindalco and Tata Steel become top gainers
-
Nifty at all-time high: Nifty closes above 18,600; FMCG and metals shine, realty falls
-
Nifty at all-time high: Nifty closes above 18,500, Sensex soars over 200 points as energy and auto rally
-
Bulls take the drivers seat: Nifty closes at 18,500; Apollo Hospitals, HDFC Life and Infosys emerge as top gainers
-
Market WRAP: Indices close marginally higher ahead of US Fed minutes release; Media and PSU Banks shine, metals drag
-
Market WRAP: Nifty ends below 18,200 level; Sensex tanks over 500 points as IT, energy and realty drag the market