Nifty closes above 16,200; LT, Power Grid Corp, and Tata Motors turned out to be the top gainers
Among the sectors, energy, financials, and FMCG remained higher while metals saw some profit booking.
Market update at 3.30 PM: Indices remained firm throughout the day and closed positively. Nifty climbed 0.54 per cent to close at 16,220.60 while Sensex gained around 303 points. Nifty Midcap and Nifty Smallcap closed marginally higher by 0.28 per cent & 0.31 per cent, respectively.
Among the sectors, energy, financials, and energy remained higher while metals saw some profit booking.
L&T, Power Grid Corp, and Tata Motors emerged as the Top Gainers amongst Nifty stocks while Maruti Suzuki, Hindalco & Tata Steel were the Top Losers.
Meanwhile, TCS, which is set to declare its results post-market hours, shall see some action on Monday along with other IT stocks.
Market update at 12.30 PM: Halfway through the session, Nifty has gained 0.42 per cent. Sensex climbed about 250 points while Nifty Midcap is flat. Meanwhile, Nifty Smallcap has gained half a per cent.
Among the sectors, media, banks, and pharma are higher while realty & metals witnessed weakness. L&T, Coal India, and NTPC are the top gainers amongst Nifty stocks whereas HDFC Life, Maruti Suzuki & IndusInd Bank are the top losers. TCS, which is set to declare its results today, has plunged nearly half a per cent.
The advance-decline ratio is in the favour of bulls and stands at 1,091:800.
Market update at 9.30 AM: Indices opened higher and Nifty kicked off with a gap-up of about 150 points. Sensex has gained over 275 points while Nifty Midcap and Nifty Smallcap climbed half a per cent each.
All the sectors are in green while the rally is led by media, financials & energy stocks.
Meanwhile, India VIX has slipped over a per cent.
Pre-market update: Last night, the global markets rallied spectacularly. The European markets closed higher by over a per cent while Nasdaq and Dow Jones climbed 2.28 per cent & 346 points, respectively.
Thus, most of the Asian markets have opened higher, and SGX Nifty indicates a higher opening of about 125 points.
TCS is set to declare its Q1FY23 results on Friday. Revenue growth, attrition rate, and management commentary shall be in focus.
In the last trading session, the FIIs sold to the tune of Rs 925 crores while DIIs have bought about Rs 980 crore worth of equity.
Nifty is set for a good gap-up above the 16,200 level while the first hour of price action shall be keenly watched.