Market Wrap: Benchmark indices close on a negative note with Nifty PSU Bank among the top gainers!

On Wednesday, Benchmark indices concluded trading day on a lower note as Sensex moderately declined by 0.16 per cent and closed at 72,987.03 level, while Nifty also plunged by 0.08 per cent and closed at 22,200.55 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded trading day on a lower note as Sensex moderately declined by 0.16 per cent and closed at 72,987.03 level, while Nifty also plunged by 0.08 per cent and closed at 22,200.55 level. Whereas the Broader market experienced significant gains as Nifty Midcap closed higher by 0.96 per cent, while Nifty Smallcap soared by 0.58 per cent.

Market volatility, as indicated by India VIX, has slightly surged by 0.38 per cent, reflecting slight increase in market volatility.

Nifty PSU Bank, Nifty Energy and Nifty Realty closed positively while Nifty FMCG, Nifty Media and Nifty Auto were among the top losers.

Coal India, Cipla and BPCL were among the top gainers while Asian Paints, Tata Motors and Bajaj Auto were among the top losing stocks from the Nifty 50.

About 1246 stocks were advancing as against to 847 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:00 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading moderately lower by 0.24 per cent, while Nifty surged by 0.14 per cent. Whereas, in the broader indices Nifty Midcap has gained by 0.73 per cent, while Nifty Smallcap has surged by 0.6 per cent.

India VIX is currently trading lower by 1.08 per cent, indicating an increase in market volatility.

Nifty PSU Bank, Nifty Energy and Nifty Realty are the major sectors which are trading positively while Nifty FMCG, Nifty Bank and Nifty Auto are among the top losers.

Coal India, Cipla and M&M are among the top gainers while Eicher Motors, HDFC Bank and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1335 stocks are advancing as against 762 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM In the current trading session benchmark indices trade marginally lower as Sensex has declined by 0.15 per cent, while Nifty has plunged by 0.05 per cent. Whereas, in the broader indices Nifty Midcap has surged by 0.91 per cent, while Nifty Smallcap has soared by 0.78 per cent.

India VIX is up by 1.15 per cent and is trading above the level of 20, indicating heightened market volatility.

European markets are heading for a higher open Wednesday as global investors look ahead to the latest U.S. inflation print. European futures DAX, FTSE and CAC trades higher by 0.23 per cent, 0.3 per cent and 0.05 per cent respectively.

Nifty PSU Bank, Nifty Energy and Nifty Realty are trading positively while Nifty Auto, Nifty FMCG and Nifty Bank are among the top losers.

Cipla, Coal India and NTPC are among the top gainers while Eicher Motors, Sun Pharma and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1435 stocks are advancing as against to 665 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a mixed note with Sensex trading marginally lower by 0.02 per cent, while Nifty gained by 0.06 cent. Similarly, in the broader indices Nifty Midcap experience significant gains of 0.84 per cent, while Nifty Smallcap has soared by 0.78 per cent.

India VIX is trading slightly higher by 0.1 per cent and is trading above the mark of 20, indicating heightened market volatility.

Nifty PSU Bank, Nifty Realty and Nifty Energy are trading positively while Nifty Bank, Nifty Auto and Nifty Financial Services are among the top losers.

Top gainers in individual stocks are Cipla, Coal India and Adani Enterprises, whereas Sun Pharma, Eicher Motors and Bajaj Auto are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1484 stocks advancing compared to 604 stocks declining.

Market Update at 9:40 AM: On Wednesday, Indian markets initiated the trading week on a positive note with Sensex opening marginally higher by 0.08 per cent, while Nifty also opened higher by 0.15 per cent. Similarly, in the broader indices Nifty Midcap opened higher by 0.84 per cent, while Nifty Smallcap has soared by 0.94 per cent.

India VIX has slightly surged by 0.01 per cent and is trading above the level of 20, indicating heightened market volatility.

Nifty PSU Bank, Nifty Realty and Nifty Metal are trading positively while Nifty Auto is the only major sector which is trading negatively.

Cipla, Adani Enterprises and Coal India are among the top gainers while HDFC Life, Eicher Motors and Sun Pharma are among the top losing stocks from the Nifty 50.

About 1664 stocks are advancing as against to 355 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM: US Stocks advanced following the release of fresh US economic data, as investors awaited crucial inflation indicators. Nasdaq achieved a new peak, accompanied by gains in Dow Jones and S&P 500.

The April producer price index exceeded forecasts, mitigating speculation of rate cuts. Initial market response was cautious, influenced by the downward revision of March wholesale prices. Attention now shifts to the upcoming consumer price index announcement on Wednesday.

Federal Reserve Chair Jerome Powell reiterated that the deceleration in inflation is slower than expected, prompting the Fed to maintain its current stance for an extended period. Speaking at the Foreign Bankers’ Association meeting in Amsterdam, he acknowledged the unexpected inflation readings, signalling a patient and persistent approach with existing policy measures. Powell anticipates a gradual easing of inflation but does not foresee immediate rate hikes.

The GIFT Nifty indications point towards a favourable start for the broader index in India, with a gain of 0.34 per cent or 75 points anticipated. Nifty futures are currently trading near the 22,390 level.

Oil prices rose as US inventories decreased, with attention turning to an upcoming report from the International Energy Agency on market equilibrium. Brent neared USD 83 after a 1.2 per cent decrease, while West Texas Intermediate exceeded USD 78. The American Petroleum Institute reported a 3.1 million barrel decline in national crude stocks last week, including a reduction in Cushing, Oklahoma.

On May 14, 2024, foreign institutional investors (FII) offloaded shares worth Rs 4,065.52 crore, while domestic institutional investors (DII) bought shares worth Rs 3,527.86 crore.

Stocks that are banned for trading in the F&O segment on May 15, 2024, are BALRAMCHIN, BSOFT, CANBK, GMRINFRA, HINDCOPPER, IDEA, PEL, SAIL and ZEEL.