Nifty closes above 16,300; Power Grid, HCL Tech and Infosys emerge as top gainers
All the sectoral indices closed in red apart from Nifty IT, which closed flat.
Market update at 3.30 PM: On such a volatile day, Nifty closed lower by 0.67 per cent at the 16,301.85 level. Sensex tanked about 364 points while Nifty Midcap and Nifty Smallcap closed lower by 1.78 per cent & 2.52 per cent, respectively.
All the sectoral indices closed in red apart from Nifty IT, which closed flat. Power Grid, HCL Tech, and Infosys emerged as the top gainers while Reliance, Nestle & Hero MotoCorp were the top losers.
The level of 16,200 emerged as a strong support level while Nifty bounced back sharply from here. For the upcoming days, this level will remain crucial support for the index.
Market update at 2.15 PM: Indices are off their day’s high while selling pressure persists. Nifty is currently down by 0.91 per cent and Sensex has lost over 500 points. Nifty Midcap and Nifty Smallcap have slipped over 1.84 per cent & 2.24 per cent, respectively.
All the sectors are in red while India VIX has surged 5.41 per cent.
Market update at 12.30 PM: Indices have witnessed recovery from lower levels and are at their day’s high. Nifty has hit the level of 16,350 and recovered nearly 200 points from its intraday low.
Nifty IT and Nifty Pharma are marginally positive while the rest are still recovering.
Bajaj Finserv, HCL Tech & Infosys are the top gainers among Nifty stocks whereas Reliance and Nestle are weak.
India VIX, which had surged over 4 per cent in the first hour, cooled off to 2 per cent.
Market update at 10.30 AM: Indices have been trading lower amid volatility. Nifty is trading in a range-bound manner after opening and is down by 1.06 per cent.
Meanwhile, Sensex has lost over 600 points. Nifty Midcap and Nifty Smallcap have slipped about 1.47 per cent & 1.60 per cent, respectively.
All the sectors are in red. However, slight improvement has been witnessed in the IT, realty, and pharma sectors.
IndusInd Bank, Reliance, and Tech Mahindra are the top losers among Nifty stocks while UPL, Power Grid & Bajaj Auto are trading higher.
Rupee has hit an all-time low of 77.17 per USD.
Market update at 9.20 AM: Indices have opened lower amid bad global cues. Nifty plunged 1.34 per cent and is trading at 16,200. Sensex has lost about 800 points while the mid-cap and small-cap indices are also trading weak.
All the sectors are in deep red while India VIX has surged over 4 per cent.
Meanwhile, Reliance Industries has slipped over 2 per cent post results.
Pre-market update: Last Friday, the US markets closed lower. NASDAQ fell about 1.40 per cent while Dow Jones closed lower by about 100 points. Moreover, the American futures are trading significantly lower, which has led to bearish sentiment in the Asian markets. With this, SGX Nifty indicates a 200-point loss for Nifty.
Meanwhile, LIC IPO enters its last day of subscription. The QIB portion of the IPO is yet to be fully subscribed, which is expected to achieve its target on the last day.
Reliance Industries Ltd declared its quarterly figures on Friday after the market hours. PAT rose by 22.5 per cent YoY while gross sales hit USD 100 billion for FY22. Thus, the stock is likely to be in focus today.
In the last trading session, the FIIs have sold for about Rs 5,517 crore while the DIIs bought about Rs 3,014 crore worth of equity.
Besides, Nifty is likely to open around the level of 16,200 while the first hour shall be keenly watched to understand the further trend of the market.
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