Market Live: Sensex turns negative, Nifty below 11,000; midcaps crack

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ITC, Asian Paints, and GAIL are the top gainers, while Yes Bank, Vedanta, and Indiabulls Housing have lost the most


Market Update A sharp selloff among midcaps as well as marquee sector names is dragging the market to low points. The Nifty has turned negative and is trading around 50 points lower, while the Sensex is trading flat.  

The Sensex is down 21.21 points or 0.06% at 36302.96, while the Nifty is down 45.80 points or 0.42% at 10931.70. The market breadth is negative as 392 shares advanced, against a decline of 1,097 shares, while 69 shares were unchanged.

ITC, Asian Paints, and GAIL are the top gainers, while Yes Bank, Vedanta, and Indiabulls Housing have lost the most.  

STOCK CRASH ALERT Shares of Infibeam are down over 47 percent on Friday morning. Here is a look at the intraday chart of the stock. 

Stock Market Tips

Market opens It’s a good start to the market on Friday morning as the Nifty surpassed 11,000 in the opening trade. The Sensex is higher by over 150 points. 

Sectors such as banks, FMCG, and auto are gaining big, while the Nifty IT index is down over a percent. The midcap index is also moving in tandem with the benchmarks, with Nifty Midcap gaining almost half a percent. 

The Sensex is up 163 points or 0.4% at 36487.1, while the Nifty is higher by 49.5 points or 0.4% at 11027. The market breadth is narrow as 506 shares advanced, against a decline of 309 shares, while 46 shares were unchanged.

HDFC, Tata Motors, and GAIL are the big gainers, while Infosys, TCS, and Tech Mahindra have lost the most. 

Share Market Tips

Rupee Opens: The Indian rupee gained in the early trade on Friday. It has opened higher by 10 paise at 72.49 per dollar versus previous close 72.59 yesterday.

Yesterday it ended flat versus Wednesday's close of 72.61 per dollar.

Market at pre-open: Indian markets are trading higher in the pre-opening trade on the back of positive global cues.

The Sensex is up 121.80 points at 36,445.9, while Nifty is up 34.50 points at 11,012.

Apollo Tyres, Infosys were down, while GSPL, Gail, Ashoka Buildcon are trading higher in pre-opening trade.

SGX Nifty Update: Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 48.5 points or 0.44 percent. Nifty futures were trading around 11,091-level on the Singaporean Exchange.

Wall Street ends higher: Wall Street rose on Thursday, helped by high-flying shares of Alphabet and Netflix, as well as the US Federal Reserve's confidence in the strength of the economy after it raised rates for the third time this year.

Ten out of 11 sectors rose, with the S&P 500 communication services index, recently renamed and reconstituted with Facebook, Google-parent Alphabet, Netflix, and other Internet and media stocks, jumping 1.15 percent.

Alphabet added 1.72 percent and Netflix climbed 0.85 percent, both helping lift the S&P 500.

Asian markets trade higher: Shares in Asia inched higher on Friday, following gains on Wall Street overnight after news of robust U.S. economic growth, with the chairman of the Federal Reserve saying the United States does not face a large chance of near-term recession.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.02 percent in early trade in Asia. Australian shares were 0.5 percent higher, while Seoul's Kospi was down 0.5 percent after hitting three-month highs on Thursday.

Japan's Nikkei stock index gained 1.1 percent, putting it within sight of a 2018 high of 24,129.34 points on Jan. 23.

Disclaimer:- The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.

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