Nifty closes above 15,800! HUL, Britannia, and IndusInd Bank emerge as top gainers
FMCG and financials were the top contributors to the market while metals & IT were weak today.
Market update at 3.30 PM: Indices closed higher amid volatility. Nifty gained momentum in the last hour and closed above the 15,800 mark. It is up by 0.53 per cent while Sensex climbed 326 points. Nifty Midcap and Nifty Smallcap gained about 0.69 per cent & 0.64 per cent, respectively.
FMCG and financials were the top contributors to the market while metals & IT were weak today.
HUL, Britannia, and IndusInd Bank were the Top Gainers</span></a></strong> while JSW Steel, ONGC, and TCS were the Top Losers.
Market update at 11.50 AM: Nifty has been trading flat amid volatility while it recovered about 100 points from its intraday low. Sensex jumped 88 points while Nifty Midcap and Nifty Smallcap climbed 0.30 per cent & 0.69 per cent, respectively.
Among the sectors, banks, FMCG, and realty are supporting the market while metals, auto & pharma are weak. IndusInd Bank, ICICI Bank, and ITC have become the top gainers while JSW Steel, ONGC & Tata Steel turned out to be the top losers.
The advance-decline ratio is at 1,263:654, indicating a positive market breadth.
Meanwhile, the resistance of Nifty is at 15,800 while the level of 15,700 shall act as a strong support level.
Market update at 9.35 AM: Indices have opened marginally lower while Nifty plunged 10 points. Nifty Midcap and Nifty Smallcap have climbed about half a per cent each.
Banks & FMCG are higher at the beginning of the session while metals have tumbled.
Meanwhile, India VIX has surged nearly 3 per cent.
Pre-market update: Last Friday, the US markets recovered from the lows and closed higher. Nasdaq inched higher by 0.90 per cent while Dow Jones climbed about 321 points. However, the Asian markets have opened cautiously post the US jobs report, and SGX Nifty is trading flat.
The US jobs report for June suggests resilient labour demand despite the cooling of the economy.
Meanwhile, US factory activity plunges to a two-year low amid an economic slowdown.
In the last trading session, the FIIs sold to the tune of Rs 2,324 crore while the DIIs bought about Rs 1,310 crore worth of equity.
Brent crude has cooled off to USD 110 barrel amid looming recession fears.
Nifty is likely to open flat but is expected to remain volatile throughout the day.