Indices recover from days low; Grasim and ONGC emerge as top gainers
Market update at 3.30 PM: Indices traded today with huge volatility as Nifty swung in both directions. However, in the latter half of the session, Nifty recovered from its low of 17,704 and gained about 120 points. In the end, Nifty closed the week at 17,812, up by 0.38 per cent while Sensex gained around 160 points.
Apart from Nifty Auto, Nifty Media, and Nifty Pharma, all other sectoral indices ended positively. Nifty Midcap and Nifty Smallcap ended in green too.
Grasim and ONGC emerged as the top gainers while M&M and Bajaj Finserv were the top losers among Nifty 50 pack.
PCR for this week stands at 1, which demonstrates indecisiveness in the market. For next week, this week’s high of 17,944 happens to be a crucial one as any closing above this level will be treated positively while 17,600-level remains key support.
Market update at 12.45 PM: Indices witnessed a sharp fall as they trade near the day’s low. Nifty lost all the points, which it had gained in the first hour of the session.
IT, FMCG, metal, and banking indices remained strong while auto, media, pharma & realty indices are witnessing selling pressure. India VIX has increased over a per cent as the sell-off started.
About 1,014 stocks are advancing while 848 stocks are weak on the exchange.
With the weekend being around the corner, the market participants are reluctant to hold their position and that is getting reflected in this hour.
Market update at 10.15 AM: Nifty started off the session with a 50-point gap-up opening and continued to soar higher. Nifty is up by 0.8 per cent while Sensex has gained nearly 500 points.
Nifty Bank continued to shine as the index has outperformed the other sectoral indices. The index is up by over 1.5 per cent.
Nifty Midcap and Nifty Smallcap are trading higher too. Moreover, India VIX has slipped over 2 per cent.
The start has been good and the market participants are anticipating further rally.
Pre-market update: Asian markets opened positive on Friday morning with SGX Nifty indicating higher opening of about 20 points.
Last night, the US markets ended marginally lower, after witnessing a major downfall two days ago. Moreover, today morning, Dow and NASDAQ Futures are trading in the green thereby, showcasing a positive sentiment.
On the last trading day, FIIs turned net sellers and have sold for about Rs 1,926 crore. Meanwhile, the DIIs remained buyers, having bought about Rs 800 crore worth of equity.
Besides, Crude oil has surged nearly 1.5 per cent amid Kazakhstan unrest due to oil prices while natural gas Is marginally higher. However, the precious metals have slipped over a per cent.