Domestic equity bourses close marginally higher; Realty and auto sector stocks rally for yet another session

Tata Motors, ONGC and GRASIM are the top gainers while Hindustan Unilever, Asian Paints and Bajaj Finance were the top losers amongst Nifty 50 stocks

Market update at 3.30 PM:  

Nifty opened with a slight gap-up and traded higher after some intraday consolidation. In the afternoon session, it witnessed a profit booking and touched its previous falling trend line on the daily time frame. Nifty closed higher around 24 points or 0.14 per cent to close around the 17,624 level. S&P BSE Sensex also closed flat with a rise of 13 points. Nifty Mid-cap 100 and Nifty Small-cap 100 rallied 0.38 per cent and 0.28 per cent respectively.  

Sectors like Realty and Auto showed decent strength for yet another session while FMCG and PSU Bank remained weak for the day.           

Tata Motors, ONGC and GRASIM are the top gainers while Hindustan Unilever, Asian Paints and Bajaj Finance were the top losers amongst Nifty 50 stocks.      

Today markets witnessed some profit booking from the day's high which is also an important resistance of the falling trendline on daily charts and closed around the opening levels. For the next up move Bulls have to surpass this resistance zone.

Market update at 2.20 PM: Indices have witnessed selling pressure from the day’s high. NSE Nifty 50 has shredded about 80 points and is trading at the 17,600 level. Sensex enters the negative terrority and is down by 40 points.  

Banks are the top draggers among the sectors. India VIX has surged 6 per cent.  

Market update at 11.50 AM: Indices are trading higher amid volatility. The Nifty 50 index has jumped 0.25 per cent to trade at 17,650 levels while S&P BSE Sensex has risen 125 points. Stock-specific action continues in the broader market.  

Nifty Realty is the top-performing index, having soared 3.64 per cent, followed by Nifty Auto (1.12 per cent). Banks and FMCG are currently weak.  

About 1,150 stocks are advancing as against 882 stocks that are declining, thus showing positive sentiment in the market.  

Tata Motors, ONGC, and Powergrid Corporation are the top gainers from the Nifty 50 stocks while Bajaj Finance, Asian Paints, and Tata Consumers Products are weak today. 

Realty and auto stocks have seen renewed buying interest while FMCG is slightly weak. India VIX has surged over 5 per cent amidst such volatility. 

Pre-market update: The Dow Jones Industrial Average closed nearly flat around the 33,485 level and Nasdaq 100 Index rallied 95 points or 0.74 per cent in Thursday’s session. Meanwhile, CBOE VIX cooled off by around 1.49 per cent. 

In the global commodities market, Gold and Silver traded in a small range after the strong rally. It may take some rest here for a few days. Brent crude futures are consolidating in a smaller range just below the important technical level. Breakout from this range can set the trend for the week.  

In Thursday's trading session, FIIs bought Rs 475.81 crore on the other hand DIIs sold Rs 997.08 crore in the equity segment. 

In the Derivative segment as compared to the previous session, clients increased their participation by adding both longs and shorts while on the flip side PROs reduced their participation in index futures. As usual, DIIs started to unwind their longs by adding some shorts in rising markets. 

FIIs added longs from the last few sessions with maintaining their existing shorts same as in the last trading session. With this action FIIs index long positions now came to 18.11 per cent.    

Now SGX Nifty indicates Nifty is likely to open gap-up of around 40 points. Result season is started and two Tech giants Infosys and TCS are announcing their results this week which can set the direction for the IT sector. 

Important Events of the Week 

Tuesday – China YOY Inflation Data 

Wednesday - India and USA YOY Inflation Data 

Thursday – England GDP Data