Market downturn: Sensex, Nifty fall over 1 per cent, volatility up

Sensex down by 1.19 per cent and the Nifty down by 1.16 per cent.

Market Update at 12:15 PM: During the ongoing trading session, benchmark indices are showing a negative trend, with the Sensex down by 1.19 per cent and the Nifty down by 1.16 per cent. However, in the broader market, the Nifty Midcap down by 0.17 per cent, while the Nifty Smallcap declined by 0.20 per cent.

India VIX rose by 5.63 per cent and is trading around the mark of 14.81, indicating a rise in market volatility.

European markets are heading for a negative open on Tuesday as central banks take centre stage this week; European Futures; DAX (-0.24 per cent); CAC (-0.04 per cent); FTSE (+0.03%).

In the sectoral landscape Nifty Realty, Nifty Media and Nifty FMCG emerged as Top Gainers, Nifty Bank, Nifty PSU Bank and Nifty Fin Service sectors are underperforming.

Top gainers in individual stocks are CIPLA, ITC, and ADANIPORTS while, SHIRIRAMFIN, BHARTIARTL and GRASIM is among the Top Losers in the Nifty 50.

The broader market sentiment is negative, with 827 stocks advancing compared to 1,547 stocks declining.

Market Update at 9:35 AM: On Tuesday, markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Media index led the gains, while Nifty Energy index lagged behind.

As of now, the Sensex is down by 0.41 per cent, hovering around 81,410, and Nifty is down by 0.42 per cent, trading near 24,560. However, in the broader market, the Nifty Midcap rose about 0.21 per cent to about 59,560, and the Nifty Smallcap is up by 0.13 per cent, trading near 19,560.

India VIX is up by 2.28 per cent, trading at 14.38, indicating a rise in market volatility.

Within the sectoral landscape Nifty Realty, Nifty Media, and Nifty IT sector is among the Top Gainers while Nifty Energy, Nifty Fin Service, Nifty Bank sector is underperforming.

CIPLA, TATAMOTORS, and TECHM are among the top gainers within the Nifty 50 while SHRIRAMFIN, BAJAJFINSV, and GRASIM are among the Top Losers.

About 1,006 stocks are advancing as against to 1,284 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:10 AM: The Nasdaq hit a record high on Monday, while the S&P 500 edged up as investors assessed economic data and awaited the Federal Reserve’s final policy announcement of the year.

S&P Global reported its flash manufacturing PMI fell to 48.3 in December, below both November’s 49.7 and analysts’ expectations of 49.8. Factory output also hit its lowest level since May 2020, with concerns about higher tariffs raising costs for imported materials next year.

The Dow dipped 110.58 points, or 0.25 per cent, to 43,717.48. The S&P 500 added 22.99 points, or 0.38 per cent, to 6,074.08, while the Nasdaq climbed 247.17 points, or 1.24 per cent, to 20,173.89.

The GIFT Nifty is indicating a negative start for the day. Nifty futures were trading at 24,722.00.

The U.S. 10-year Treasury yield stands at 4.393 per cent, while the 2-year bond yield at 4.243 per cent.

Brent crude held near $73.8 and WTI near $70.5 as weak global demand and oversupply fears weighed on prices. China’s sluggish data and weak manufacturing in the US and Eurozone added pressure, while traders await the Fed’s rate decision.

On December 16 2024, foreign institutional investors (FII) sold shares worth Rs 278 crore, while domestic institutional investors (DII) sold shares worth Rs 234 crore.

Stocks that are banned for trading in the F&O segment on December 17, 2024, are GRANULES, HINDCOPPER, MANAPPURAM, NATIONALUM, RBLBANK, SAIL.

Disclaimer: The article is for informational purposes only and not investment advice.