Indices snap 3-day losing streak; Sensex jumped 850 points as all sectors end in green

M&M, TCS and HCL Technologies emerged as the top gainers from the Nifty 50 stocks

Market update at 3.30 PM: Indices ended the day on a higher note amidst volatility. NSE Nifty 50 index managed to close at 18,100 levels despite losing over 100 points during the afternoon. The benchmark index soared 1.352 per cent while S&P BSE Sensex rose 850 points. Nifty Midcap and Nifty Smallcap surged 0.94 per cent and 0.55 per cent respectively.   

All the sectors closed positively and India VIX slipped 2.50 per cent.   

M&M, TCS and HCL Technologies emerged as the top gainers from the Nifty 50 stocks while Titan Company, Bajaj Finserv and Bajaj Auto were the top losers.   

Nifty formed a strong bullish bar after 3 days of correction. Meanwhile, TCS is expected to declare results today and global cues shall continue to be in focus. 

Market update at 2.10 PM: Indices have experienced weakness at higher levels as NSE Nifty 50 index slipped over 100 points from day’s high. Sensex trades 600 points higher while weakness is also reflected in the broader market.   

Realty stocks have seen slight profit booking, while IT remains strong. Titan Company, Bajaj Finserv and HDFC Life Insurance Company are among the top losers from Nifty 50 stocks.   

Market update at 11.20 AM: Indices have been trading at day’s high amid positive sentiment in the market. NSE Nifty 50 index has surged 1.40 per cent to trade at 18,100 levels while S&P Sensex has soared nearly 900 points. Nifty Midcap and Nifty Smallcap have jumped 0.85 per cent each.   

All the sectors are trading positively, Nifty IT has surged 2.58 per cent. Energy, metal and auto are also among the leading sectors.   

About 1,552 stocks are advancing as against 442 stocks that are declining, thus indicating positive market breadth.   

Abbott India, IDBI Bank and Jindal Steel are the stocks that have hit fresh 52-week high levels.   

Market update at 9.30 AM: Indices have been trading higher amid positive global cues. NSE Nifty 50 index has surged 0.83 per cent to trade at 18,000 levels while S&P BSE Sensex has jumped nearly 500 points. Midcap and Smallcap indices are also trading higher.  

All sectors are trading in green while India VIX has dipped over a per cent.  

Pre-market update: The Bulls on the Wall Street made a strong comeback on Friday after US jobs data indicated healthy economic activity despite aggressive rate hikes by the Fed. Dow Jones Industrial Average surged 700 points while the tech-heavy Nasdaq jumped 2.55 per cent. Such positivity is reflected in the Asian markets as well and trends on SGX Nifty indicate a gap-up opening of about 150 points for Nifty.

TCS is set to announce the Q3FY23 earnings on January 9 and kickstart the corporate results season. 

Crude oil rebounded after healthy economic activity expectations for 2023. Brent crude rose near 2 per cent to trade at USD 79.45 per barrel.

In the last trading session, the FIIs sold to the tune of Rs 2902 crore while the DIIs bought shares worth Rs 1083 crore.

Nifty is expected to open above 18,000 levels and the first hour of price action shall be keenly watched.