Nifty closes at all-time high; Midcap and Smallcap indices outperform as media, realty and auto rally
Stocks that have hit a fresh 52-week high are Bank of Baroda, Bharti Airtel, ICICI Bank and Larsen and Toubro.
Market update at 3.30 PM: The benchmark indices NSE Nifty 50 and BSE Sensex 30 closed on a flat note but what grabbed attention are the Midcap and Smallcap stocks which saw strong buying sentiment prevailing throughout the day. Nifty Midcap and Nifty Smallcap surged over 1 per cent each.
Realty, media and auto stocks saw strong buying interest emerging while FMCG remained weak.
From the Nifty 50 stocks, HDFC Life Insurance, Tata Motors and Hero Motocorp emerged as the top gainers while ICICI Bank, Nestle and Kotak Mahindra Bank were the top losers.
Market update at 11.20 AM: After many days, Midcap and Smallcap indices have seen a good rally amid strong buying sentiment. Nifty Midcap and Nifty Smallcap have soared 1 per cent each as against NSE Nifty 50 index and BSE Sensex which are trading marginally lower.
PSU Banks, realty and media are the top performers while FMCG remains weak.
About 1,337 stocks are advancing as against 598 stocks that are declining, thus indicating broader market participation.
Stocks that have hit a fresh 52-week high are Bank of Baroda, Bharti Airtel, ICICI Bank and Larsen and Toubro.
Market update at 9.35 AM: Indices have been trading on a mixed note at the start of the session. Nifty and Sensex are both trading marginally lower while strong buying is seen across Midcap and Smallcap stocks.
Banks and realty stocks have seen good buying interest while weakness persists across FMCG sector. Meanwhile, India VIX has slipped 2 per cent.
Pre-market update: The Asian markets have opend mixed on Friday morning amid lack of global cues. The overall sentiment looks positive as the global markets have rallied in the past few trading sessions, thanks to the improving global economic conditions and ease of rate hikes indicated at Fed minutes. Trends on SGX Nifty indicate a loss of 40 points.
Crude oil plunges yet another day as price cap proposal eases supply constraints. Brent crude is currently trading at 85-level.
The US dollar has slipped to a 3-month low against the other currencies amid indications of ease of rate hikes.
In the last trading session, the FIIs turned net buyers as they bought shares worth Rs 1231 crore while the DIIs sold to the tune of Rs 235 crore.
Nifty has closed at an all time high in the previous trading session but is short of another 100 points on an intraday basis. We can expect the benchmark index to trade with a positive bias amid volatility.