Benchmark indices trade higher with Nifty IT among the top gainers!

In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex trading higher by 0.14 per cent, while Nifty gained by 0.16 per cent. Similarly in the broader indices Nifty Midcap experience gains of 0.18 per cent, while Nifty Smallcap has surged by 0.35 per cent.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex trading higher by 0.14 per cent, while Nifty gained by 0.16 per cent. Similarly in the broader indices Nifty Midcap experience gains of 0.18 per cent, while Nifty Smallcap has surged by 0.35 per cent.

India VIX is has slightly surged by 0.48 per cent and is trading above the mark of 13, indicating an slight increase in market volatility.

Within the sectoral landscape, Nifty IT, Nifty Media and Nifty Pharma are among the Top Gainers while Nifty FMCG, Nifty Realty and Nifty Metal are among the Top Losers.

Top gainers in individual stocks are LTIMindtree, Wipro and Indusind Bank whereas, Hero Motocorp, Britannia and Nestle India are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1354 stocks advancing compared to 931 stocks declining.

Market Update at 9:40 AM: On Wednesday, Indian markets opened the trading session on a negative note while, the Broader indices also displayed mixed performance. Nifty Media emerged as the top gainer, while Nifty Realty experienced the largest losses.

The Sensex is trading down by 0.07 per cent below the 81,700 mark while the Nifty has also declined by 0.13 per cent and is trading below the 25,000 level. Whereas, in the broader, the Nifty Midcap declined by 0.32 per cent trading below the 59,100 level while the Nifty Smallcap slightly gained by 0.01 per cent and is trading above the 19,300 mark!

India VIX has surged by 1.14 per cent and is trading above the mark of 13, indicating a slight increase in market volatility.

Within the sectoral landscape Nifty Media is the only major sector which is trading positively while Nifty Realty, Nifty Metal and Nifty Financial Services are among the losers!

LTIMindtree, M&M and Indusind Bank are among the top gainers within the Nifty 50 while Hero Motocorp, Bajaj Finserv and Tata Steel are among the top losers.

About 1159 stocks are advancing as against to 1018 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: The S&P 500 closed higher on Tuesday, while the Dow Jones reached a record high ahead of Nvidia's eagerly awaited quarterly report on Wednesday and upcoming economic data that could provide insights into potential interest rate cuts.

The S&P 500 rose 0.16 per cent to finish at 5,625.80 points. The Nasdaq also gained 0.16 per cent, closing at 17,754.82 points, and the Dow Jones Industrial Average edged up 0.02 per cent to 41,250.50 points, marking its second consecutive record-high close.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a slight gain of 0.04 per cent or 10 points. Nifty futures are currently trading near the 25,120.20 mark.

Oil prices rose in Asian trading on Wednesday, supported by industry data indicating a significant drawdown in U.S. inventories, along with ongoing tensions in the Middle East and supply disruptions in Libya. The prior session saw crude prices dip due to profit-taking after a strong rebound in the past week, compounded by lingering concerns about an economic slowdown.

Brent oil futures increased by 0.5 per cent to Rs 79.92 per barrel, while West Texas Intermediate (WTI) crude futures also gained 0.5 per cent to reach Rs 75.92 per barrel.

On August 27, 2024, foreign institutional investors (FII) bought shares worth Rs 1,503.76 crore, while domestic institutional investors (DII) offloaded shares worth Rs 604.08 crore.    

Stocks that are banned for trading in the F&O segment on August 28, 2024, are BALRAMCHIN, BSOFT, HINDCOPPER and INDIACEM.