Daily market update
F&O expiry added volatility in the market: Nifty ends on a flat mode. Indian benchmark Nifty had a choppy day owing to F&O expiry. Nifty witnessed weakness even though it managed to sustain above 9500 level. Nifty today opened with a minor gap up, continuing its move in a bullish trend. The prices dipped covering the pre-market gains in post-market sessions. Though most of the major indexes ended with a meager movement, a considerable unusual volume is seen in stocks. It may be due to the hedging positions by the investors.
The majority of the sectors opened with a minor gap up today.
METALS sector was consolidating below its resistance level since May 2017. It soared high today as the top performer of sectors by 2%. It is settling near to its major resistance level.
PSU BANK bleeds due to causes. It opened with a bullish mode sliding down paring yesterday’s gains.
PHARMA sector sagged; today PHARMA sector continues its bear trend in a sluggish move.
REALTY sectors managed to sustain the opening gains. INFRA sectors paired premarket gains and also proceeding in a bearish trend indicating weakness.
BANKING sectors and few other sectors had a volatile day closing in an insignificant movement.
Maximum of the stocks had a clueless move today caused by the hedging of new contracts and F&O expiry. VEDL, AXIS BANK, TATASTEEL, IBULHSGFIN, CIPLA are the top gainers whereas, KOTAKBANK, SBIN, TATAMOTORS, TCS are the top losers. Among the top gainers and losers, some stocks rallied with an unusual volume. They are VEDL, TATASTEEL, KOTAKBANK, and SBIN.
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