Nifty closes above 16,300; Axis Bank, IndusInd Bank and Bajaj Finserv emerge as top gainers
The level of 16,200 is generally considered a strong level for Nifty but since it closed above 16,300 today, this level becomes quite significant.
Market update at 3.30 PM: Indices gained momentum in the last hour as Nifty inched higher by 0.38 per cent to close above the 16,300 level. Sensex climbed 190 points while Nifty Midcap and Nifty Smallcap rose 0.67 per cent & 1.02 per cent respectively.
All the sectors closed in green apart from pharma and media. Axis Bank, IndusInd Bank, and Bajaj Finserv emerged as the Top Gainers while ONGC, HDFC Life & Nestle were the Top Losers.
The level of 16,200 is generally considered a strong level for Nifty but since it closed above 16,300 today, this level becomes quite significant.
Market update at 11.15 AM: Indices have recovered from their day’s low and are trading in the positive territory. Nifty recovered its pre-opening losses and climbed about 0.40 per cent. Sensex gained over 167 points while Nifty Midcap and Nifty Smallcap have climbed 0.60 per cent & 0.79 per cent, respectively.
Among the sectors, PSU banks, realty, and metals emerged as the frontrunners in supporting the market. Meanwhile, FMCG is weak today. Coal India, Axis Bank & Bajaj Finserv are the top gainers amongst Nifty stocks while HDFC Life, Tata Consumer Products, and Nestle are weak today.
The advance-decline ratio stands at 1,357:536 thereby, favouring the advances.
Market update at 9.30 AM: Indices have opened lower amid weak global cues. Nifty plunged 0.30 per cent while Sensex lost about 100 points. However, Nifty Midcap and Nifty Smallcap are trading on a flat note.
FMCG, IT, and financials are weak while metals are up today. With this, India VIX has surged nearly 2 per cent.
Pre-market update: Last night, the US markets closed lower despite opening higher. Nasdaq slipped 0.81 per cent while Dow Jones lost about 215 points. So, most of the Asian markets followed the global cues while SGX Nifty indicates a gap-down opening of about 130 points.
HUL and HDFC Life Insurance Company along with other key companies such as ICICI Lombard General Insurance Company, Ambuja Cements, L&T Finance Holdings, etc. are set to declare their results on July 19.
Reliance Jio is currently leading to acquire 5G spectrum in the auction.
Crude oil is hovering around the 100 mark and is likely to remain volatile for some more days.
In the last trading session, the FIIs and DIIs both turned net buyers and bought to the tune of Rs 156 crore & Rs 844 crore, respectively.
Nifty is likely to open below 16,200 and volatility is expected to persist.
Related articles
-
Market WRAP: Sensex tanks 265 points ahead of Fed meet; metals, energy and pharma slump
-
Nifty closes above 17,500; Mahindra and Mahindra, Hindalco, and Coal India emerge as top gainers
-
Nifty closes above 16,700; UltraTech Cement, Grasim and UPL emerge as top gainers
-
Nifty closes above 16,250! Hindalco, IndusInd Bank and Infosys emerge as top gainers
-
Nifty closes above 16,000; auto, FMCG and financials shine
-
Nifty closes above 16,200; LT, Power Grid Corp, and Tata Motors turned out to be the top gainers
-
Nifty closes above 16,100; Hindalco, Titan, and Tata Steel emerge as top gainers
-
Nifty closes near 16,000; Bajaj twins and HUL emerge as top gainers
-
Nifty closes at days high for second consecutive day! Apollo Hospitals, Tech Mahindra and HDFC Life emerge as top gainers
-
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 at all-time high: Nifty closes above 18,500, Sensex soars over 200 points as energy and auto rally
-
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