Market WRAP: Nifty closes below 17,000; Sensex tanks nearly 850 points amid a severe sell-off in the last hour
Only three stocks namely, Axis Bank, Adani Enterprises, and Asian Paints emerged as the top gainers from Nifty 50 stocks.
Market Update at 3.30 PM: Indices closed on a weaker note as a sharp sell-off towards the end hurt investors’ sentiment. Nifty plunged 1.49 per cent to close below 17,000 while Sensex tanked 843 points. Nifty Midcap and Nifty Smallcap slipped 1.74 per cent each.
All the sectors closed in red with realty, metal & media being the worst affected sectors.
Only three stocks namely, Axis Bank, Adani Enterprises, and Asian Paints emerged as the top gainers from Nifty 50 stocks. Divi’s Labs, JSW Steel, and IndusInd Bank were the top losers.
Nifty formed a strong bearish candle and closed below its 200-DMA, which is largely negative. A short-term outlook has become bearish and with Fed Minutes coming up, the global markets are expected to be volatile in near future.
Market update at 12.45 PM: Indices have extended losses as Nifty fell towards 17,100 level. The benchmark index has slipped 0.74 per cent while Sensex tanked 400 points. The small-cap and mid-cap indices also witnessed weakness.
Realty and IT stocks are worst affected. India VIX has surged nearly 2 per cent amid such weakness.
Market update at 11 AM: Indices are trading lower amid volatility. Nifty has tumbled below 17,200 level and is down by 0.44 per cent. Sensex has plunged 225 points while Nifty Midcap and Nifty Smallcap have slipped 0.39 per cent & 0.15 per cent, respectively.
All the sectors are trading in red with realty, pharma, and auto being the worst affected sectors.
TCS has slipped over 1 per cent post its results. Meanwhile, Infosys is also trading weak and is down by a per cent.
The advance-decline ratio is in the favour of bears and currently, stands at 840:1056 levels.
The top gainers from Nifty 50 stocks include Asian Paints, Adani Enterprises, and Axis Bank while Divi’s Labs, ONGC & Eicher Motors are weak.
Market update at 9.35 AM: Indices are trading lower amid volatility at the beginning of the session. Nifty has dipped 0.30 per cent while Sensex slipped 150 points. Meanwhile, Nifty Midcap and Nifty Smallcap are trading on a mixed note.
Media and IT are trading higher while banks & auto are weak.
Pre-market update: The US indices closed negatively as aggressive rate hikes and refining showdown weighed investors' sentiment. Nasdaq slipped 1 per cent while Dow Jones lost 93 points. However, the Asian markets have opened mixed, and SGX Nifty indicates a flat opening for Nifty.
TCS posted its Q2FY22-23 results on Monday wherein, its net profit grew 8 per cent YoY to Rs 10,465 crore and revenue jumped 18 per cent YoY. Thus, IT stocks will be in focus today.
In the last trading session, the FIIs sold to the tune of Rs 2,139 crore while the DIIs bought shares worth Rs 2,137 crore.
Nifty is likely to open flat around 17,250 level while the first hour of price action shall be keenly watched to understand further trends in the market.
Related articles
-
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
-
Market WRAP: Nifty and Sensex close marginally higher on weekly expiry day; Nifty PSU Bank soars nearly 4 per cent!
-
Market WRAP: Indices close lower ahead of RBI meet; PSU Banks and FMCG outperform
-
Nifty closes at all-time high; Midcap and Smallcap indices outperform as media, realty 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
-
Nifty at 52-week high: Nifty closes above 18,400; Sensex closes at days high as banks and auto lead the rally
-
Market WRAP: Nifty, Sensex end marginally lower; Media and FMCG take a hit
-
Volatile Monday: Nifty closes at 18,200; PSU Banks and metals shine, pharma drags
-
Market WRAP: Nifty closes above 18,100; Sensex soars 150 points as metals and PSU Banks shine
-
Market WRAP: Nifty closed below 17,700; energy, FMCG and private banks drag the market
-
Market WRAP: Nifty closes at 17,250; IT soars, FMCG and media tumble
-
Nifty closes above 18,100 level; Sensex soars 350 points as metals and realty shine
-
Blood bath on D-street: Nifty ends at 17,800 level; Sensex tanks nearly 1000 points, PSU Banks tumble
-
Nifty forms an inside bar on weekly chart; Nifty PSU Bank gains nearly 5 per cent for the week!
-
Market WRAP: RBI applied brakes to the Nifty rally; Sensex plunged over 200 points as metals and realty take a hit
-
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