Nifty closes above 18,000 level after 46 trading days; all sectors end in green

Top gainers from Nifty 50 stocks are Adani Enterprises, Adani Ports and Nestle India

Market update at 3.30 PM: The indices witnessed a dramatic short covering rally in the last half hour of the session. NSE Nifty 50 managed to close above 18,000 level after 46 trading days while S&P BSE Sensex jumped 463 points. Nifty Midcap and Nifty Smallcap surged 1.24 per cent and 0.83 per cent respectively.   

All the sectors ended in green, with Nifty PSU Bank gaining over 2.45 per cent. India VIX plunged 4.18 per cent on a positive day.   

Top gainers from Nifty 50 stocks are Adani Enterprises, Adani Ports and Nestle India whereas Axis Bank, Titan Company and ONGC were the top losers for the day.   

Nifty closed at April month’s high ahead of the long weekend. Meanwhile, the global cues shall continue to be in focus.  

Market update at 2.30 PM: Indices have been trading around day's high after recovering from lower levels of the day. NSE Nifty 50 index has jumped 0.30 per cent to trade at 17,975 levels while S&P Sensex has gained more than 170 points. Nifty Midcap and Nifty Smallcap have risen 0.84 per cent and 0.68 per cent respectively.    

IT and PSU banks have seen fresh buying interest while consumer durable stocks are slightly weak. India VIX has cooled off to day’s low and slipped below 11 which is the lowest in recent times. 

Market update at 11.15 AM: Indices have been trading on a mixed note amid strong volatility. NSE Nifty 50 index is up 0.20 per cent to trade above 17,900 levels while S&P BSE Sensex has jumped 60 points so far. Nifty Midcap and Nifty Smallcap have surged 0.59 per cent and 0.67 per cent respectively.   

Media stocks, along with PSU Banks and IT are the top performers while private banks are weak today.   

About 1378 stocks are advancing as against 580 stocks that are declining, thus indicating positive sentiment in the market.   

Adani Enterprises, Wipro and Adani Ports are the top gainers from the Nifty 50 stocks while Axis Bank, HUL and Bajaj Finserv are weak today.   

Nifty has recovered about 70 points from the day’s low and is likely to trade with strong volatility as the session progresses.   

Market update at 9.30 AM: Indices have been trading on a mixed note at the start of the session. NSE Nifty 50 is trading flat at 17,900 levels while S&P BSE Sensex is down 100 points. Stock specific action continues in the broader market.

PSU banks and IT stocks have been the top performers in the initial hour of the trading session, while FMCG is weak today. India VIX trades marginally higher at 11.45 level.

Pre-market update:    

Strong buying interest has been seen in Dow Jones Industrial Average, which rallied more than 500 points or 1.5 per cent and closed around day’s high at 33,826 level. Nasdaq 100 Index opened gap up after strong results of index heavy weight stock Meta and closed around 2.76 per cent higher at 13,160 level.  

In global commodities, Gold and Silver closed in its previous range after a volatile move.  

Brent crude futures traded in small range after severe fall of last few sessions.  

On Thursday's trading session, FIIs and DIIs both supported the market rally as they bought 1652.95 crore and 97 crore respectively. 

In last trading session, Nifty closed above prior swing high of 17,863 level. Now SGX Nifty indicates Nifty likely to open gap up around 80 points which also a psychological and derivative resistance of 18,000 level. Bulls can get more strength once they sustain this gap up.