Nifty closes above 16,100; Hindalco, Titan, and Tata Steel emerge as top gainers
Among the sectoral indices, Nifty Metals climbed nearly 4 per cent and saw a good short-covering rally. Financial and realty have also performed well.
Market update at 3.30 PM: Indices closed higher on the day of the weekly expiry. Nifty gained about 0.89 per cent to close at 16,132 while Sensex climbed 427 points. Nifty Midcap and Nifty Smallcap surged 1.35 per cent & 1.57 per cent, respectively.
Among the sectoral indices, Nifty Metals climbed nearly 4 per cent and saw a good short-covering rally. Financial and realty have also performed well. Meanwhile, FMCG and energy closed flat.
Hindalco, Titan, and Tata Steel emerged as the Top Gainers amongst Nifty stocks while Dr Reddy’s Lab, Nestle & Cipla were the Top Losers.
Market update at 11.20 AM: Nifty climbed 0.62 per cent and is hovering around the 16,100 level. Sensex has gained about 270 points while Nifty Midcap and Nifty Smallcap have advanced a per cent each.
Banks, auto, realty and IT are the top performers while media is flat.
Titan, M&M, and BPCL are the top gainers amongst Nifty stocks while Bajaj Finserv, UltraTech Cement & Reliance are the top losers.
The advance-decline ratio is at 1,494:409, which indicates a positive sentiment in the market.
Market update at 9.30 AM: Indices have opened higher and Nifty advanced 0.66 per cent while Sensex climbed over 300 points. Nifty Midcap and Nifty Smallcap indices have risen 0.82 per cent & 1.05 per cent, respectively.
All the sectors are in green whereas India VIX has slipped about a per cent.
Pre-market update: Last night, the US markets closed higher. Nasdaq climbed 0.35 per cent while Dow Jones gained about 70 points. Most of the Asian markets have opened higher, and SGX Nifty indicates a gap-up opening of about 50 points for Nifty.
Crude oil price continues its downward journey as it slips below the 100-level. WTI Crude Oil currently trades at USD 97.79 per barrel while Brent crude is at USD 99.79 per barrel.
In the last trading session, the FIIs sold to the tune of Rs 330 crore while the DIIs bought about Rs 1,464 crore worth of equity.
Nifty is likely to open above the 16,000 level on the day of weekly expiry, and it would be interesting to see if it sustains this level.