Nifty closed above 18,400 levels; Sensex surged nearly 500 points as auto, FMCG and metals shine
Adani Ports, Eicher Motors and M&M became the top gainers from the Nifty 50 stocks
Market update at 3.30 PM: Indices traded higher throughout the day as strong short covering rally led Nifty above 18,400 levels. The benchmark index climbed 0.83 per cent while S&P BSE Sensex surged nearly 500 points. Nifty Midcap and Nifty Smallcap climbed about half a per cent each.
Auto, FMCG and metals emerged as the top performers from the sectors while IT remained weak.
Adani Ports, Eicher Motors and M&M became the top gainers from the Nifty 50 stocks while TCS, Infosys and ONGC were the top losers.
Nifty formed a strong bullish bar with a lower shadow, thus indicating strong support at lower levels. Meanwhile, focus shall turn towards the global markets to anticipate further trends.
Market update at 11.20 AM: Indices have been witnessing positive sentiment at lower levels and are off their day’s low. NSE Nifty 50 index has surged above 18,300 levels and has climbed 0.43 per cent, while S&P BSE Sensex has surged 250 points. Midcap and smallcap indices have seen recovery from lower levels and are trading in green.
Prominent sectors leading this rally are auto, FMCG and metals. On a contrary, IT remains weak.
Stock specific action is seen across Britannia, GICRE, Kalyan Jewellers, Mahindra CIE Automotive and V-Guard Industries which have hit their fresh 52-week highs.
The advance decline ratio stands at 1,203:777 and indicates a positive market breadth.
For Nifty, 18,300 level shall act as strong support while 18,400 level shall act as immediate resistance.
Market update at 9.30 AM: Indices have been trading marginally higher upon opening. S&P BSE Sensex has gained 50 points while NSE Nifty 50 index trades marginally below 18,300 levels. Meanwhile, midcap and Smallcap indices are slightly under pressure.
FMCG and PSU Banks are the top performers amongst the sectors. India VIX has surged nearly 1 per cent.
Pre-market update: In a fresh start of the week, the Asian markets have opened cautiously after 3 days of continuous fall on the Wall Street. Trends on SGX Nifty indicate a gain of 50 points.
Oil prices trade lower amid volatility as aggressive rate hikes by the Central banks and lack of global demand put downward pressure. Brent crude oil currently trades at USD 80 per barrel.
KFin Technologies IPO is open for subscription on December 19, with a price band of Rs 347-366. The company is expected to raise a total of Rs 2,000 crore via the IPO.
In the last trading session, the FIIs sold to the tune of Rs 1,975 crore while the DIIs bought shares worth Rs 1,542 crore respectively.
Nifty is likely to open positively and volatility is expected to persist throughout the day.
Related articles
-
Market WRAP: Nifty and Sensex close marginally higher on weekly expiry day; Nifty PSU Bank soars nearly 4 per cent!
-
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
-
Volatile Monday: Nifty closes at 18,200; PSU Banks and metals shine, pharma drags
-
Market WRAP: Nifty closes at 18,200 level; Sensex tanks 635 points, Pharma outshines
-
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: 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
-
Market WRAP: Nifty ends above 18,200; Sensex soars 275 points as PSU Banks, metal and IT shine
-
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
-
Market WRAP: Nifty closes above 18,100; Sensex soars 150 points as metals and PSU Banks shine
-
Market WRAP: Nifty, Sensex end lower amid volatility, led by IT and power stocks
-
Magical Monday: Nifty closes above 18000; Sensex claims 60000 as auto, IT and financials rally
-
Market WRAP: Nifty closed below 17,700; energy, FMCG and private banks drag the market