Market Wrap: Benchmark indices close on a positive note while Broader indices outperformed!

On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.75 per cent closing at 72,641.19 level, while Nifty also gained by 0.79 per cent and closed at 22,011.95 level.

Market Update at 3:45 PM: On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.75 per cent closing at 72,641.19 level, while Nifty also gained by 0.79 per cent and closed at 22,011.95 level. Similarly, the Broader market experienced substantial gains as Nifty Midcap closed significantly higher by 2.14 per cent, while Nifty Smallcap soared by 2.57 per cent.

Market volatility, as indicated by India VIX, has declined by 7.13 per cent, reflecting a decrease in market volatility.

Nifty Realty, Nifty Metal, Nifty PSU Bank and Nifty Energy were among the top gainers while there were no major sectors which underperformed.

BPCL, NTPC and Power Grid were among the top gainers while Bharti Airtel, HDFC Life and ONGC were among the top losing stocks from the Nifty 50.

About 1893 stocks were advancing as against to 389 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading substantially higher by 0.67 per cent, while Nifty trades higher by 0.73 per cent. Similarly, in the broader indices Nifty Midcap has significantly surged by 1.91 per cent, while Nifty Smallcap has gained by 2.42 per cent.

India VIX is currently trading lower by 6.55 per cent, indicating a decrease in market volatility.

Nifty Realty, Nifty Metal and Nifty PSU Bank are among the top gaining sectors while currently no major sectors are underperforming.

NTPC, BPCL and Tata Steel are among the top gainers while Bharti Airtel, Maruti and UPL are among the top losing stocks from the Nifty 50.

About 1963 stocks are advancing as against 324 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices trade significantly higher with the Sensex substantially surging by 0.69 per cent, while Nifty also gained by 0.71 per cent. Similarly, in the broader markets Nifty Midcap has soared by 1.82 per cent, while Nifty Smallcap has gained by 2.36 per cent.

India VIX is currently trading substantially lower by 6.42 per cent, indicating a decrease in market volatility.

European markets are heading for a positive open on Thursday with investors in the region keeping an eye on the latest Monetary Policy decisions from The Bank of England, Norges Bank and The Swiss National Bank. European futures DAX, CAC and FTSE trades higher by 0.98 per cent, 0.95 per cent and 0.75 per cent respectively.

Nifty Metal, Nifty PSU Bank and Nifty Realty are among the top gainers while currently there are no major sectors which are underperforming.

NTPC, BPCL and Tata Steel are among the top gainers while Hero Motocorp, Nestle India and Maruti among the top losing stocks from the Nifty 50.

About 1968 stocks are advancing as against to 310 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, benchmark indices are trading on a higher note, with Sensex trading substantially higher by 1.04 per cent while Nifty also trades higher by 1.05 per cent. Similarly, in the broader indices Nifty Midcap experiences significant gains of 1.92 per cent, while Nifty Smallcap soars by 2.35 per cent.

India VIX is trading lower by 5.62 per cent, indicating a decline in market volatility.

Nifty PSU Bank, Nifty Metal and Nifty Media are among the top gaining sectors while currently no major sectors are underperforming.

Top gainers in individual stocks are NTPC, BPCL and Tata Steel, whereas Hero Motocorp and Nestle India are among the leading losers in the Nifty 50.

The broader market sentiment is positive, with 2043 stocks advancing compared to 210 stocks declining.

Market Update at 9:45 AM: On Thursday, Indian markets initiated the trading day on a positive note with Sensex opening substantially higher by 0.74 per cent, while Nifty also opened higher by 0.78 per cent. Similarly in the broader indices Nifty Midcap opened substantially higher by 1.54 per cent, while Nifty Smallcap also opened significantly higher by 2 per cent.

India VIX has declined by 4.08 per cent, indicating a decline in market volatility.

Nifty Metal, Nifty PSU Bank and Nifty Media are among the top gainers while currently no major sector is underperforming.

Tata Steel, BPCL and Hindalco are among the top gainers while Apollo Hospitals, Hero Motocorp and Maruti are among the top losing stocks from the Nifty 50.

About 1990 stocks are advancing as against to 175 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: On Wednesday, Wall Street's primary stock indices concluded higher following the Federal Reserve's decision to maintain borrowing costs unchanged, thereby alleviating investor concerns. The Fed's policy statement characterized inflation as "elevated," while revising economic projections to indicate increased economic growth and a lower unemployment rate compared to December's estimates.

The Dow Jones Industrial Average surged by 401.37 points, or 1.03 per cent, closing at 39,512.13. Similarly, the S&P 500 saw an increase of 46.11 points, or 0.89 per cent, reaching 5,224.62, while the Nasdaq Composite rose by 202.62 points, or 1.25 per cent, to 16,369.41.

The GIFT Nifty trends suggest a robust opening for the benchmark indices, with an increase of 146 points or 0.67 per cent. Nifty futures were trading near the level of 22,071.

Oil prices staged a recovery on Thursday, reversing losses from the previous session, buoyed by declines in US crude and gasoline inventories, which provided support to the market. This came after indications that the US Federal Reserve might maintain higher interest rates for a longer duration, dampening the outlook for future fuel demand.

Brent crude oil futures contract for May settlement increased by 0.6 per cent, or 52 cents, reaching USD 86.47 a barrel, following a decline of 1.6 per cent on Wednesday. Similarly, US West Texas Intermediate futures for May delivery rose by 0.5 per cent, or 45 cents, to USD 81.72 a barrel, rebounding from a 1.6 per cent drop in the previous session. The April contract expired on Wednesday, closing down by 2.1 per cent at USD 81.68.

On March 20, 2024, foreign institutional investors (FII) sold shares worth Rs 2,599.19 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,667.52 crore.

Stocks that are banned for trading in the F&O segment on March 21, 2024, are BALRAMCHIN, BIOCON, HINDCOPPER, INDUSTOWER, PEL, RBLBANK, TATACHEM, ZEEL.