Nifty ended higher before monthly expiry; Realty, FMCG stocks outperformed
Power grid Corp, Nestle Ind and Tata consumer products were the top gainers while Hindalco, Adani ports and Bajaj Auto were the top losers amongst Nifty 50 stocks.
Market update at 3.30 PM:
Nifty remained volatile for the day as it witnessed a roller coaster ride. However, it closed around day’s high by rallying strong in the afternoon session at 17,813 level or 0.25 per cent.
S&P BSE Sensex finally closed above the technical resistance of falling trendline at 60,300. Nifty Midcap 100 and Nifty Small cap 100 closed in green around 0.15 per cent and 0.46 per cent respectively.
Realty and FMCG sector traded strong while Metal sector remained weak for the day.
Power grid Corp, Nestle Ind and Tata consumer products were the top gainers while Hindalco, Adani ports and Bajaj Auto were the top losers amongst Nifty 50 stocks.
Finally Nifty closed above the important technical level of 17,800 before monthly expiry trading session, decisive move above this level will start fresh rally. It’ll be interesting to see whether bulls can protect this level or not.
Market update at 2.20 PM: Indices have witnessed positive sentiment as the day progressed, with strong buying interest seen across the real estate stock, along with PSU Banks and Auto. NSE Nifty 50 index is up 0.15 per cent to trade at 17,800 levels while BSE Sensex has jumped 100 points. Nifty Midcap and Nifty Smallcap have risen 0.10 per cent and 0.46 per cent respectively.
The top gainers from the Nifty 500 space are GSFC (17.84 per cent), Gujarat Alkali (14.21 per cent) and GNFC (9.53 per cent).
Market update at 11.10 AM: Indices have been trading on a mixed note amid strong volatility. NSE Nifty 50 index has jumped about 60 points from day’s low to trade flat. Sensex is up 25 points while Midcap and Smallcap indices also trade on a similar note.
Realty, IT and auto are the top performers amongst the sectors while metals are weak today.
About 1,142 stocks are advancing as against 812 stocks that are declining, thus showing positive sentiment in the broader market.
Eicher Motors, Powergrid Corporation and L&T are the top gainers from the Nifty 50 stocks while Hindalco, JSW Steel and Adani Ports are weak today.
17,800 happens to be an immediate resistance for Nifty while the day’s low (17,711) shall be a crucial level to watch.
Market update at 9.30 AM: Indices have been trading lower amid poor global cues. NSE Nifty 50 index has slipped 0.20 per cent to trade near 17,700 levels while BSE Sensex has lost 80 points so far. Stock specific action continues in the broader market.
Realty and IT stocks are trading higher while metals are weak today. India VIX has jumped 3 per cent amidst such volatility.
Pre-market update:
Dow Jones Industrial Average witnessed strong selling session and cracked more than 1 per cent to close at day’s low of 33,530 level. Nasdaq 100 Index dropped 1.89 per cent and closed flat around 0.24 per cent lower, at 12,969 level.
In global commodities, Gold and Silver witnessed a volatile session in which Gold closed 0.4 per cent in green after recovering from lower levels and Silver closed in red around 0.5 per cent.
Brent crude futures dropped again, more than 2 per cent, after retracement of last 2 sessions.
In Monday's trading session, FIIs sold Rs 412.27 crore and DIIs bought Rs 1177.18 crore in equity segment.
In Derivative segment, as compared to previous session, Clients and DIIs shorts positions are slightly increased while PROs added shorts heavily in index future and on flip side, FIIs increased their longs in index as per OI data. Now FIIs index long position came to 43.79 per cent from 39.31 per cent.
Somehow, Dow futures and Nasdaq futures are now trading strong after the strong post market result of Microsoft and Alphabet. Now SGX Nifty indicates Nifty likely to open gap down around 30 points. In the last trading session, Nifty closed just below the technical resistance of 17,800 level, can expect fresh up move once bulls surpass this zone decisively.