Nifty closes above 18,100 level; Sensex soars 350 points as metals and realty shine

Hindalco, Tata Steel, JSW steel emerged as the top gainers from the Nifty 50 stocks

Market update at 3.30 PM: Indices closed on a positive note for the second consecutive session as strong buying sentiment prevailed on D-street. NSE Nifty 50 index climbed 0.65 per cent to close above 18,100 level while BSE Sensex jumped over 350 points. Nifty midcap and Nifty smallcap surged 1 per cent and 1.20 per cent respectively. 

All the sectors except FMCG closed positively, with metals and realty emerging as top performers. Nifty Metal rose over 4 per cent as strong buying was seen across metal stocks. 

Hindalco, Tata Steel, JSW steel emerged as the top gainers from the Nifty 50 stocks while HUL, Apollo Hospitals and Nestle were the top losers. 

Nifty formed a bullish hammer-like candle on the technical chart and depicts strong buying sentiment at lower levels. Interestingly, the broader market is seen outperforming the benchmark indices and is likely to be in focus for upcoming days as well.

Market update at 11.15 AM: Indices have been trading higher amid volatility. NSE Nifty 50 index is trading marginally higher and above 18,000 level while Sensex is up by 80 points. Nifty Midcap and Nifty Smallcap have soared 0.65 per cent and 0.95 per cent respectively.   

Metals and realty are the leaders in supporting the market while banks and FMCG are slightly weak.   

About 1,624 stocks are advancing as against 334 stocks that are declining. The market is positive and strong buying is seen across Smallcap stocks.   

Tata Steel, JSW Steel and Hindalco Industries are the top gainers from the Nifty 50 stocks while M&M, HDFC Bank and Dr Reddy’s Laboratories are weak today.   

18,000 level holds a strong support for Nifty and any fall below this level can be detrimental for the index.

Market update at 9.30 AM: Indices have been trading flat at the start of the session. NSE Nifty 50 and Sensex are trading flat while Midcap and Smallcap stocks are performing well.  

Metals, energy and PSU Bank stocks are the top performers while pharma remains weak. India VIX has slipped over 1 per cent.  

Pre-market update: The Asian markets have continued the upward move from the last trading session amid lack of global cues. Trends on SGX Nifty indicate a gain of about 50 points.

Crude oil prices jumped over a per cent after reports that Russia is planning to cut production supplies in response to the capping of oil prices. Brent crude currently trades near USD 85 per barrel.

US retail sales jumped 7.6 per cent during holiday season, which is higher than the September figure of 7.1 per cent.

As per the reports, government plans to issue a new industrial policy statement, with the objective of showcasing India as an attractive manufacturing hub to the world.

In the last trading session, the FIIs sold to the tune of Rs 497 crore as against the purchasing spree of Rs 1285 crore of the DIIs.

Nifty is expected to open above 18,000 level and volatility is expected to persist throughout the day.