Live Stock Market Updates: Nifty slips below 9,900
Nifty had a higher opening tick above 9,900 level but slipped thereafter with huge volumes. Market players took advantage of the higher opening to get out of the weak market.
Going forward, 9,900 is the crucial resistance level for the 50-stocks index to watch out for while on the downside 9,850 and 9,800 are strong supports. Metals and Pharma stocks have been dragging down the major indices in the market.
Bank Nifty also witnessed the similar movement like Nifty. It opened higher by 109 points but slipped thereafter to trade flat at 24,200.
At 10 AM, the S&P BSE Sensex is trading at 31,579 down by 20 points, while Nifty is trading at 9,862 down by 9 points. A total of 16 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE. There are 961 advances, 525 declines and 460 unchanged stocks showing mixed sentiments in the market.
The BSE Mid-cap Index is trading marginally down by 0.06% at 15,491, while BSE Small-cap Index is trading marginally up by 0.45% at 16,208.
There is some buying activity seen in the Capital Goods, Auto and Realty while some selling activity is seen in Healthcare, Metal, IT and Telecom sectors on BSE.
Ambuja Cements, Bosch, ACC, IOC and Power Grid are among the gainers, whereas Sun Pharma, Indiabulls Housing Finance, Adani Ports, Hindustan Unilever and Vedanta Limited are losing sheen in the Nifty50 index.
The INDIA VIX is down 0.29% at 12.89.