Nifty closes at 15,700; Mahindra and Mahindra, Hero MotoCorp, and IndusInd Bank emerge as top gainers!

Rohit Kale
/ Categories: Trending, Mkt Commentary
Nifty closes at 15,700; Mahindra and Mahindra, Hero MotoCorp, and IndusInd Bank emerge as top gainers!

Among the sectors, media, auto, and financials traded higher throughout the day while IT stocks were weak.  

Market update at 3.30 PM: Nifty closed the week on a positive note as it gained about 0.92 per cent on Friday. Sensex surged about 462 points while Nifty Midcap and Nifty Smallcap indices rose about 1.42 per cent & 1.76 per cent, respectively.   

Among the sectors, media, auto, and financials traded higher throughout the day while IT stocks were weak. Tech Mahindra, Infosys, and TCS were the Top Gainers.   

Meanwhile, India VIX slipped 1.58 per cent on Friday.  

 

Market update at 11.40 AM: Indices have been trading higher amid volatility. Nifty is currently higher by 0.73 per cent while Sensex has gained 340 points, so far. Nifty Midcap and Nifty Smallcap have risen by 1.09 per cent & 1.15 per cent, respectively.  

Media, financials, and FCMG are higher while the IT index is down by nearly a per cent. M&M, Hero MotoCorp, and IndusInd Bank are the top gainers amongst Nifty stocks whereas Apollo Hospitals, Infosys & Asian Paints are weak today.   

The market breadth is in the favour of bulls as the advance-decline ratio stands at 1,548:359, meaning that nearly five stocks are advancing to every one stock that’s declining.   

Nifty has faced resistance in the zone of 15,700-15,750 while strong support is placed at 15,600.  

 

Market update at 9.30 AM: Indices have opened higher amid volatility. Nifty climbed about a per cent while Sensex surged over 445 points. Besides, Nifty Midcap and Nifty Smallcap rose 0.70 per cent & 1.09 per cent, respectively.  

Among the sectors, IT is flat whereas financials, media, and FMCG are higher. 

Meanwhile, India VIX is marginally down. 

 

Pre-market update: Last night, the US markets closed higher. Nasdaq surged 1.62 per cent while Dow Jones gained about 194 points. With this, most of the Asian markets inched higher and SGX Nifty indicates a gap-up opening of about 90 points for Nifty. 

Brent crude has slipped below the 110-mark and a cool-off is seen due to rising recession fears. 

In the last trading session, the FIIs have sold to the tune of Rs 2,319 crore while the DIIs bought about Rs 2,438 crore worth of equity. 

Nifty is likely to open above the previous day's high, which is a positive sign. Meanwhile, intraday volatility is expected to persist. 

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