Benchmark indices close on a positive note after making new all-time highs!

On Thursday’s trading session Benchmark indices concluded the day on a higher note with Sensex surging by 1.34 per cent closing at 70,514.21, while Nifty soared by 1.32 and closed at 21,202.25.

Market Update at 3:45 PM: On Thursday’s trading session Benchmark indices concluded the day on a higher note with Sensex surging by 1.34 per cent closing at 70,514.21, while Nifty soared by 1.32 and closed at 21,202.25. Similarly, Broader indices closed on a higher note with Nifty Midcap surging by 1.39 per cent, while Nifty Smallcap soared by 0.91 per cent.

Market volatility, as indicated by India VIX, has surged by 2.11 per cent, reflecting a slight increase in market volatility.

Nifty Realty, Nifty IT and Nifty Financial Services were among the top gainers while, Nifty Media was the only major sector which underperformed.

Tech Mahindra, LTIMindtree and Infosys were among the top gainers while Power Grid, HDFC Life and Nestle India were among the top losing stocks from the Nifty 50.

About 1120 stocks were advancing as against to 922 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:20 PM: In the ongoing trading session the Sensex has surged by 1.38 per cent and traded at its new all-time high of 70,602.89, while Nifty has soared by 1.28 per cent and traded at its record high of 21,210,90. Similarly, Nifty Midcap trades higher by 1.25 per cent, while Nifty Smallcap surges by 1.04 per cent.

India VIX has marginally increased by 3.23 per cent, indicating a slight increase in market volatility.

Nifty Realty, Nifty IT and Nifty Financial Services are among the top gainers while, currently Nifty Media is the only major sector which is underperforming.

Tech Mahindra, LTIMindtree and Infosys are among the top gainers while HDFC Life, Power Grid and Nestle India are among the top losing stocks from the Nifty 50.

About 1202 stocks are advancing as against to 840 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM: In the ongoing trading session the Sensex has surged by 1.21 per cent, while Nifty has soared by 1.12 per cent. Similarly, Nifty Midcap trades higher by 0.89 per cent, while Nifty Smallcap surges by 1.12 per cent.

India VIX has marginally increased by 0.27 per cent, indicating a slight increase in market volatility.

European Markets are set to rally at the open on Thursday as investors reacted positively to the U.S. Federal Reserve’s signal that interest rate cuts will take place in next year. European futures DAX, CAC and FTSE trades substantially higher by 1.10 per cent, 1.14 pe cent and 0.89 per cent.

Nifty Realty, Nifty IT and Nifty Financial Services are among the top gainers while, currently there are no major sectors underperforming.

Adani Ports, Adani Enterprises and NTPC are among the top gainers while Dr Reddy’s Laboratories, Divi’s Laboratories and Maruti are among the top losing stocks from the Nifty 50.

About 1295 stocks are advancing as against to 745 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the current trading session the Sensex has surged by 1.24 per cent making a new all-time high of 70,540, while Nifty also soared by 1.15 per cent making a record high of 21,189.55. Similarly, Nifty Midcap trades higher by 0.89 per cent, while Nifty Smallcap surges by 1.12 per cent.

India VIX has marginally increased by 0.27 per cent, indicating a slight increase in market volatility.

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

LTIMindtree, Bajaj Finance and HCL Technologies are among the top gainers while HDFC Life, Power Grid and Cipla are among the top losing stocks from the Nifty 50.

About 1331 stocks are advancing as against to 690 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:35 AM: On Thursday, the Sensex opened significantly higher by 1.12 per cent and made an all-time high of 70,381.24, while Nifty also opened substantially higher by 1.03 per cent reaching its new all-time high of 21,148.45. Similarly, Nifty Midcap opened on a positive note surging by 0.75 per cent, while Nifty Smallcap opened higher by 1.02 per cent.

India VIX has marginally surged by 1.91 per cent, indicating a slight increase in market volatility.

Nifty IT, Nifty Realty and Nifty Financial Services are among the top gaining sectors while currently there are no major sectors underperforming.

HCL Technologies, Tech Mahindra and LTIMindtree are among the top gainers while Power Grid, BPCL and Nestle India are among the top losing stocks from the Nifty 50.

About 1495 stocks are advancing as against to 406 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM:  On Wednesday, US stocks achieved yet another set of yearly highs, propelled by dovish signals from the Federal Reserve, propelling the S&P 500 closer to its all-time peak. The S&P 500 surpassed 4,700, the Dow Jones Industrial Average reached a historic high, and the Nasdaq 100 extended its surge for the year to over 50 per cent. Federal Reserve Chair Jerome Powell expressed optimism about inflation easing without a spike in unemployment, emphasizing that policy has entered restrictive territory.

Dow Jones Industrial Average futures saw an increase of 81 points, or 0.22 per cent, reaching 37,171, while the S&P 500 recorded a gain of 56 points, or 1.21 per cent, closing at 4,700, and the Nasdaq Composite experienced a rise of 168 points, or 1.16 per cent, ending the day at 14,702.

The Federal Reserve maintains status quo on interest rates and adopts a dovish stance for 2024:

On December 13, the US Federal Reserve, for the third consecutive time, decided to keep interest rates unchanged at 5.25-5.5 per cent, signalling a shift to a dovish outlook for 2024. Chairman Jerome Powell clearly conveyed the intention of the central bank to initiate interest rate cuts in 2024, indicating a potential reduction of 75 basis points next year.

Powell stated, "We are likely at or near its peak for this tightening cycle." Furthermore, the Fed dot plot revealed that a majority of officials anticipate rates to conclude next year within the range of 4.5 per cent to 4.75 per cent, with a further decrease expected in 2025 at 3.5-3.75 per cent.

Following the recent Federal Reserve monetary policy decision, the US dollar index, measuring the greenback against six other currencies, dropped to 102.9. As the Fed reduces interest rates and adopts a more dovish outlook, it fosters increased borrowing among investors, exerting downward pressure on the strength of the US dollar.

In the monthly report closely monitored by OPEC+, the organization maintained its projection for global oil demand growth in 2023, holding it steady at 2.5 million barrels per day (bpd) as compared to the previous month's evaluation. As a result, oil prices received a boost, with Brent Crude trading at USD 75 per barrel and WTI Crude at USD 70 per barrel, each experiencing a 0.8 per cent increase.

The GIFT Nifty trends suggest a favourable beginning for the benchmark indices in India, showing an increase of 220 points or 1.05 per cent. Nifty futures are currently trading at 21,240.

On December 13, 2023, foreign institutional investors (FII) bought shares worth Rs 4,711 crore, while domestic institutional investors (DII) offloaded shares worth Rs 958 crore.

Stocks that are banned for trading in the F&O segment on December 14, 2023, are BALRAMCHIN, DELTACORP, HINDCOPPER, IBULHSGFIN, INDIACEM, NATIONALUM and ZEEL.