Today’s Market Updates 9 April: Nifty top gainers and losers
Today’s Market Updates 9 April: The Indian markets opened flat on Friday tracking mixed cues from the Asian peers. The markets remained flat with positive bias in early deals on the back of board-based buying led by FMCG and Healthcare stocks. In the second half, the indices slipped into the red due to the selling pressure of the Metals, Oil & Gas, and Banking & Financial sectors.
The market sentiments got some support with Crisil Ratings reports that after eight quarters of either decline or single-digit growth, corporate revenue grew in high double-digits of 15-17 percent in the March quarter of FY21 to Rs 6.9 lakh crore. This is partly because of the low base and better realization due to higher commodity prices, pushing up their operating profits by a much higher 28-30 percent
However, the upside of the market remained capped as traders are concerns about the rising coronavirus cases in the country. Breaking all records, India has recorded a massive surge of 1,31,893 coronavirus cases on Thursday. Maharashtra is the worst affected state that reported more than 56,000 new cases on Thursday.
Today’s spot market updates 9 April: Sensex, Nifty, and Bank Nifty
At the close, Nifty fell 38.95 points or 0.26 percent and closed at 14834.85 levels whereas Sensex was down by 154.89 points or 0.31 percent and finished at 49591.32 levels. The Bank Nifty on the spot price was down by 334.80 points or 1.02 percent and ended at 32448.05 levels.
The midcap and smallcap indices closed marginally higher today. The Nifty midcap index gained 43.3 points or 0.18 percent and closed at 24505.70 levels. The Nifty smallcap index was up by 40 points or 0.47 percent and ended at 8559.10 levels.
The top five gainers in the Nifty50 index for the day were Cipla, Sun Pharma, HUL, Tech Mahindra, and Wipro. The top five losers in the Nifty 50 index for the day were Bajaj Finance, UPL, NTPC, Ultratech Cement, and Tata Steel. The most active stocks in the Nifty 50 index were JSW Steel, Tata Steel, and Tata Motors.
On the sectoral front, Healthcare, FMCG, IT & Software, Capital Goods, and Hospitality sectors closed higher today. On the losing side, Metals, Oil & Gas, Banking & Finance, and Infrastructure sectors closed in the red today.
Derivative market updates today 9 April: Nifty & Bank Nifty futures
The Nifty futures share price today opened at 14901.10, it made a negative opening of 23.3 points. It has touched an intraday high at 14967.45 and a day’s low at 14810
The Nifty futures share price has given a movement of 157.45 points. In the end, it fell 31.4 points or 0.21 percent and closed at 14893 levels.
The Bank Nifty futures share price opened at 32312 It made a negative opening of 633.7 points today. It has touched an intraday high at 33174 and a day’s low at 32251.25
During the day, the Bank Nifty futures share price has given a movement of 922.75 points. In the end, it declined by 330.6 points or 1 percent and closed at 32615.10 levels.
Today’s global market updates
On the global front, Asian markets mostly closed in the red despite the positive cues overnight from Wall Street The Asian markets sentiments remained subdued as data from China showed higher than expected inflation, traders are also cautious due to continuing surge in coronavirus cases in the region. The European market indices and the US future indices are trading almost flat at 4 pm IST
Conclusions:
Indian stock markets snapped a three-day winning streak and closed marginally lower on Friday. The market sentiments were subdued to due negative Asian market cues and a spike in coronavirus cases in the country. Heaving buying was seen in the healthcare and FMCG sectors on Friday, but the concerns about banks and NBFC’s asset quality due to coronavirus restrictions dragged down the markets.
Traders can read “Next week market report” and Nifty and Bank Nifty trading levels on Saturday.
You may also like to read, Stock market holidays 2021-Indian & Global markets
Best Options Trading Books in India-Must Read 2021
Happy weekend !!
Editor’s Desk
