Indices recover towards the end; metal, auto and energy gain, financials drag
ONGC, Hindalco, and M&M emerged as the top gainers while Titan Company, Asian Paints, & Bajaj Fiserv were the top losers.
Market update at 3.30 PM: Indices recovered towards the end whereas Nifty closed higher by 18 points. However, Nifty Midcap and Nifty Smallcap closed on a mixed note.
Among the sectors, metals, auto & energy closed higher while financials remained weak.
ONGC, Hindalco, and M&M emerged as the Top Losers.
Nifty closed at the level of 15,850 while the focus shall turn towards the global markets.
Market update at 11.15 AM: Indices have been trading lower and Nifty is hovering around the 15,750-level. It is down by half a per cent while Nifty Midcap and Nifty Smallcap are down by over 0.6 per cent & 0.8 per cent, respectively.
Auto and energy stocks are higher on Tuesday. M&M, ONGC, and Maruti Suzuki are the top gainers while Asian Paints, Titan & Bajaj Finserv are weak today.
The advance-decline ratio stands at 671:1,204, meaning to say that nearly two stocks are declining for every single stock that’s advancing thereby, confirming a bearish trend.
Meanwhile, the level of 15,700 shall continue to remain as strong support for Nifty, and any fall below this level can trigger a stronger downtrend.
Market update at 9.45 AM: Indices have been trading lower and Nifty slipped 0.57 per cent. Sensex has lost about 285 points while Nifty Midcap and Nifty Smallcap have plunged over 0.75 per cent each.
The stocks of media, IT, and financials sectors are weak while auto & energy stocks are trading higher. Meanwhile, India VIX has surged nearly 3 per cent.
Pre-market update: Last night, the US markets closed lower amid volatility. Nasdaq slumped 0.72 per cent while Dow Jones lost about 62 points. Thus, most of the Asian markets have opened lower, and SGX Nifty indicates a gap-down opening of about 60 points for Nifty.
Oil has risen over a per cent after UAE says it has no spare capacity to ramp up oil production. Brent crude trades above the 115-mark and thus, energy stocks shall be in focus today
In the last trading session, the FIIs have sold to the tune of Rs 1,278 crore while the DIIs bought about Rs 1,184 crore worth of equity.
Nifty is likely to open below the level of 15,800 and hence, volatility is expected to persist.