Market update: Nifty and Sensex start the week on a positive note

Sensex is up by 0.57 per cent, hovering around 78,490, and Nifty is up by 0.58 per cent, trading near 23,720.

Market Update at 9:40 AM: On Monday, markets opened on a positive note, with both Nifty and Sensex showing positive movement. Nifty Realty index led the gains, while Nifty Pharma index lagged behind.

As of now, the Sensex is up by 0.57 per cent, hovering around 78,490, and Nifty is up by 0.58 per cent, trading near 23,720. However, in the broader market, the Nifty Midcap declined about 0.27 per cent to about 56,750, and the Nifty Smallcap is down by 0.68 per cent, trading near 18,590.

India VIX is down by 3.58 per cent, trading at 14.53, indicating a fall in market volatility.

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

SHRIRAMFIN, JSWSTEEL and HDFCBANK are among the top gainers within the Nifty 50 while HDFCLIFE, CIPLA, and SBILIFE are among the Top Losers.

About 942 stocks are advancing as against to 1,350 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 7:45 AM: U.S. stocks surged on Friday, wrapping up the trading week on a strong note after two sluggish sessions. A softer-than-expected inflation report, coupled with remarks from Federal Reserve officials, helped alleviate concerns about the direction of interest rates.

The Dow Jones Industrial Average climbed 498.82 points, an increase of 1.18 per cent, closing at 42,841.06. Similarly, the S&P 500 advanced 63.82 points, or 1.09 per cent, to settle at 5,930.90. Meanwhile, the Nasdaq Composite rose 199.83 points, gaining 1.03 per cent to finish at 19,572.60.

The GIFT Nifty is indicating a positive start for the day. Nifty futures were trading at 23,793.40.

The U.S. 10-year Treasury yield stands at 4.526 per cent, while the 2-year bond yield at 4.315 per cent.

Since the start of 2024, Brent has fallen by 3.72 USD per barrel, representing a decrease of 4.84 per cent. Similarly, Crude Oil has dropped by 1.79 USD per barrel, marking a decline of 2.49 per cent. These figures are based on contract for difference (CFD) trading, which mirrors the benchmark market trends for this commodity. Historically, Crude Oil hit its peak price of 147.27 USD per barrel in July 2008.

On December 20 2024, foreign institutional investors (FII) sold shares worth Rs 3,597 crore, while domestic institutional investors (DII) bought shares worth Rs 1,374 crore.

Stocks that are banned for trading in the F&O segment on December 23, 2024, are BANDHANBNK, GRANULES, HINDCOPPER, MANAPPURAM, RBLBANK, SAIL.

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