Market WRAP: Indices end on a higher note; Sensex jumps 150 points on a volatile day!
Stocks that have hit fresh a 52-week high are Abbott India, Axis Bank, Bharat Forge, IDFC First Bank, PNB, SBI and Yes Bank.
Market update at 3.30 PM: Indices closed on a higher note on a volatile trading day. NSE Nifty 50 index rose 0.28 per cent to close above 18650 levels while Sensex soared 150 points. Nifty Midcap and Nifty Smallcap climbed 0.60 per cent and 0.71 per cent respectively.
Media, IT and metals emerged as the top performers in lifting the market higher while FMCG remained weak.
Nifty formed a Doji candle after two consecutive bullish bars and indicates indecisiveness at higher levels. Meanwhile, all eyes would be on the global markets to understand the trend of the market
Market update at 12.15 PM: Indices have been trading higher amid volatility, thanks to the IT and media stocks that have seen fresh buying interest at lower levels. The L&T group stocks, namely LTTS and LTIM have surged nearly 3 per cent and are the top gainers in Nifty IT.
The broader market has been outperforming the benchmark indices as Nifty Midcap and Nifty Smallcap have surged 0.65 per cent each. The benchmark index NSE Nifty 50 has soared half a per cent while BSE Sensex has climbed over 250 points.
Meanwhile, ONGC, Hindalco and NTPC are the top gainers from the Nifty 50 stocks while Nestle, Bharti Airtel and Asian Paints are weak today.
Stocks that have hit fresh a 52-week high are Abbott India, Axis Bank, Bharat Forge, IDFC First Bank, PNB, SBI and Yes Bank.
Market update at 9.30 AM: Indices have opened higher amid positive global cues. NSE Nifty 50 index has jumped 0.42 per cent to trade at 18,700 levels while BSE Sensex has climbed 261 points. The broader market has also witnessed strong buying sentiment.
All the sectors are trending positively and Media and IT stocks have seen strong buying interest. India VIX has plunged by another 3 per cent and lies at 12.50 levels.
Pre-market update: The Wall Street indices jumped sharply on Tuesday after the inflation data came out to be cooler than expectated. The US CPI data stood at 7.10 per cent which is the smallest annual increase in inflation in the past 1 year. Nasdaq rallied 1 per cent while Dow Jones climbed 103 points.
The Asian markets have thus opened postively and trends on SGX Nifty indicate a gap-up opening of about 100 points.
The dollar slumped against the other currencies after the fall in inflation. The USDINR currently trades at Rs 82.75 per US dollar.
The crude oil prices have risen in the last trading session after investors chose risky assets as dollar slumped.
The FIIs and the DIIs, both have turned net buyers in the previous trading session, and bought shares worth Rs 619 crore and Rs 36 crore.
Nifty is expected to open near 18,700 and price action at higher levels shall be keenly watched
.