Nifty and Sensex end marginally lower; Realty and PSU Banks soar, Metals plunge

Tata Motors, UPL and Cipla emerged as the top gainers from the Nifty 50 stocks

Market update at 3.30 PM: Indices closed on a mixed note, led by gains in realty and PSU Banks and losses in metal stocks. Nifty and Sensex end marginally lower during Friday’s trading session while Nifty Midcap and Nifty Smallcap climbed 0.24 per cent and 0.54 per cent respectively.   

India VIX slipped over 2 per cent as the benchmark indices continued to trade in a confined range.   

Tata Motors, UPL and Cipla emerged as the top gainers while Adani Enterprises, HCL Technologies and Hindalco Industries were the top losers.   

Nifty formed an inside bar on the technical chart and indicated further consolidation. For next week, global cues shall be in focus with US inflation data set to be released during the week. Stock specific action is likely to continue in the broader market.   

Market update at 11 AM: Indices have been trading on a mixed note since the start of the session, with the gains of PSU Banks being offset by weakness across metal and energy stocks. NSE Nifty 50 index is marginally down by 0.15 per cent while S&P BSE Sensex has lost 115 points. Nifty Smallcap has jumped 0.72 per cent.  

About 1152 stocks are advancing as against 803 stocks that are declining, primarily due to buying activity across Smallcap stocks.   

Adani Enterprises, Adani Ports and UPL are the top gainers from Nifty 50 stocks while HCL Technologies, Hindalco Industries and Tata Steel remain weak.

Market update at 9.35 AM: Indices have been trading lower amid poor global cues. NSE Nifty 50 has slipped half a per cent to trade at 17,800 level while S&P BSE Sensex has lost 200 points. Nifty Midcap and Nifty Smallcap trade on a mixed note. 

PSU Banks and media stocks are the top performers while IT and metals are weak today.  

Pre-market update: The American benchmark indices lost points after poor response to an auction of 30-year bonds and investors ignored strong earnings from PepsiCo. Nasdaq slipped 1 per cent while Dow Jones lost 250 points. With this, the Asian markets have reacted negatively and trends on SGX Nifty indicate a loss of about 80 points in Nifty.

US weekly jobless claims rise but the labour market remains tight despite interest rate hikes by the Fed.

Oil slips nearly a per cent after earthquake in Turkey and rising interest rate fear dented demand outlook. Currently, Brent crude oil price trades at USD 84 per barrel.

In the last trading session, the FIIs sold shares to the tune of Rs 144 crore while the DIIs bought equity worth Rs 205 crore.

Nifty is expected to open around 17,800 level and first hour of price action shall be keenly watched to anticipate further trend.