Nifty closes below 15750; Bajaj Auto, IndusInd Bank, and ONGC emerge as top losers
NTPC, Bharti Airtel, M&M, and Apollo Hospitals emerged as the top gainers among the Nifty stocks while Bajaj Auto, IndusInd Bank, and ONGC were the top losers.
Market update at 3.30 PM: Nifty continued its downfall on Tuesday as it closed lower by 0.27 per cent, while Sensex lost about 153 points. The broader market indices like the Nifty Midcap and Nifty Smallcap slipped about 0.23 per cent and 0.56 per cent, respectively.
Among the sectors, Nifty IT, metal, realty, and pharma sectors traded higher while financials, auto, media and FMCG remained weak.
NTPC, Bharti Airtel, M&M, and Apollo Hospitals emerged as the top gainers among the Nifty stocks while Bajaj Auto, IndusInd Bank, and ONGC were the top losers.
India VIX, however, cooled off by 2 per cent despite the negativity.
Nifty hangs on to its 15700-support level on a closing basis for second consecutive day. Meanwhile, global cues, shall continue to be in focus.
Market update at 2.15 PM: Indices are trading lower amid volatility. Nifty is down by 0.30 per cent and Sensex has lost about 175 points. Midcap and Smallcap indices are weak too.
India’s WPI rises to 15.88 per cent, according to the data release on Tuesday. With this, indices are experienced selling pressure at higher levels.
Meanwhile, Media, FMCG and Banks are weak.
Market update at 11.15 AM: Indices have seen recovery from their day’s low and Nifty is up by about half a per cent. Sensex has gained about 210 points while Nifty Midcap and Nifty Smallcap are higher by 0.94 per cent and 0.77 per cent respectively.
All the sectors are in green. Good recovery is seen in realty, metal and IT stocks. Adani Ports, UltraTech Cement, Apollo Hospitals and Grasim have emerged as the top gainers while Reliance, ONGC, and Maruti Suzuki are weak.
The advance decline ratio stands at 1,419:462, meaning that the market breadth in positive. With this, India VIX has cooled off by 2 per cent and it has slipped below 22-mark.
Market update at 9.25 AM: Indices have opened lower amid ruthless global cues. Nifty is trading down by 0.25 per cent, while Sensex has lost about 150 points. Meanwhile midcap and smallcap indices also trade lower.
Media, metals, and energy stocks are higher while banks and NBFCs are weak at the start of the session. India VIX has slipped about a percent.
Pre-market update: Last night, the US markets closed lower significantly as the sell-off continued. Nasdaq tumbled over 4.68 per cent, while Dow Jones tanked 876 points. Thus, the Asian markets have opened significantly lower, and the SGX Nifty indicating a loss of 90 points at the opening bell.
During Monday's heavy selling, the FIIs has sold for about Rs 4164 crores, while the DIIs have bought about Rs 2814 crores worth of equity.
Amidst such negativity, India's retail inflation for May released on Monday, stood at 7.04 per cent as against 7.79 per cent of April. Thus, inflation can be seen cooling off locally.
Nifty is likely to open near 15700 and first hour of price action shall be keenly watched.
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