Magical Monday: Nifty closes above 18000; Sensex claims 60000 as auto, IT and financials rally
Stocks that have hit a fresh 52-week high level include Bharti Airtel, Eicher Motors, M&M, Sun Pharma, Titan Company and Trent.
Market update at 3.30 PM: Investors rejoiced as Nifty finally claimed the much coveted 18000 mark. Sensex also soared above the 60000 level. It was a broad based rally on Monday as all the sectors closed positively. Nifty and Sensex jumped 1.28 per cent each while Nifty Midcap and Nifty Smallcap rose 1.38 per cent and 0.13 per cent respectively.
Auto, IT and financials were the top performing sectors.
Amidst such positivity, India VIX fell 0.75 per cent.
UltraTech Cement, HDFC and M&M emerged as the top gainers while Apollo Hospitals, Dr Reddy’s Laboratories and NTPC were the top losers.
The market has witnessed a good start contrary to an expected volatile week ahead. Meanwhile, global cues shall continue to be in focus along with economic data points and corporate results.
Market update at 12.15 PM: Indices continue to trade higher with benchmark NSE Nifty 50 rallied over 1 per cent. Interestingly, the NSE Nifty 50 is within striking distance for reclaiming its important psychological mark of 18000. Meanwhile, Sensex has surged over 700 points, while Nifty Midcap has climbed 0.91 per cent. Nifty Smallcap is trading flat.
All the sectors are in green, with IT and Auto being the top performers.
Sun Pharma, UltraTech Cement and M&M are the top gainers from the Nifty 50 stocks while Dr Reddy’s Laboratories, NTPC and Apollo Hospital are weak today.
Stocks that have hit a fresh 52-week high level include Bharti Airtel, Eicher Motors, M&M, Sun Pharma, Titan Company and Trent.
The advance decline ratio currently stands at 1119:837, indicating positive sentiment in the market.
Market update at 9.35 AM: Indices have opened higher amid positive global cues. Nifty has climbed 1 per cent and is trading above 17900 level while Sensex has climbed nearly 650 points. Nifty Midcap and Nifty Smallcap are also trading higher.
All the sectors are trading in green and India VIX has risen over 1 per cent.
Pre-market update: The American market closed on a higher note on Friday as good corporate earnings outlook boosted investors' confidence. Nasdaq rallied 2.87 per cent while Dow Jones climbed 828 points. Most of the Asian markets have thus opened higher amid positive expectations as markets head into a volatile week with host of economic events. SGX Nifty currently indicates a gap-up opening of over 170 points for Nifty.
Stock specific action is expected to continue, with key companies like L&T and Bharti Airtel set to declare results today.
Oil slipped amid expectations of demand drop from major economies. Brent crude currently trades just above 94-mark.
Interestingly, the FIIs have emerged as net buyers in the last trading session, and bought shares worth Rs 1568 crore, while the DIIs sold to the tune of Rs 613 crore.
Nifty is likely to open near 18000-level but intraday volatility is expected to persist.