Market Wrap: Benchmark close on a higher note while Broader indices make new highs!

On Wednesday, Benchmark indices concluded trading day on a higher note as Sensex moderately gained by 0.2 per cent and closed at 76,696.57 level, while Nifty gained by 0.25 per cent and closed at 23,322.95 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded trading day on a higher note as Sensex moderately gained by 0.2 per cent and closed at 76,696.57 level, while Nifty gained by 0.25 per cent and closed at 23,322.95 level. Similarly, the Broader market also experienced gains as Nifty Midcap closed significantly higher by 1.04 per cent and made a record high of 54,308.80 level, while Nifty Smallcap soared by 1.23 per cent and reached its all-time high of 17,809.15 level.

Market volatility, as indicated by India VIX, has declined by 2.56 per cent and is trading around the level of 14 reflecting a decrease in market volatility.

Within the sectoral landscape, Nifty Media, Nifty PSU Bank and Nifty Energy were among the top gainers, while Nifty FMCG, Nifty Auto and Nifty Realty are among the top losers.

Coal India, Power Grid Corporation and Eicher Motors were among the top gainers while on the other hand M&M, Britannia and Hindustan Unilever were among the top losers.

About 1465 stocks were advancing as against to 672 that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading moderately higher by 0.42 per cent, while Nifty surged by 0.46 per cent. Similarly, in the broader indices Nifty Midcap has surged by 1 per cent, while Nifty Smallcap has soared by 1.12 per cent.

India VIX is currently trading lower by 1.85 per cent and is trading around the level of 14 indicating decreased market volatility.

Within the sectoral landscape, Nifty Media, Nifty Energy, Nifty PSU Bank and Nifty Financial Services among the top gainers while Nifty FMCG and Nifty Realty are only major sectors which are underperforming.

Coal India, Power Grid Corporation and Eicher Motors are among the top gainers while Britannia, Hindustan Unilever and M&M are among the top losing stocks from the Nifty 50.

About 1481 stocks are advancing as against 659 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 on a positive note as Sensex has moderately gained by 0.26 per cent, while Nifty has surged by 0.32 per cent. Similarly, in the broader indices Nifty Midcap has soared by 1.03 per cent, while Nifty Smallcap has gained by 1.05 per cent.

India VIX is trading slightly lower by 0.71 per cent around the mark of 14 indicating decreased market volatility.

European markets are expected to open higher on Wednesday, ahead of the latest U.S. Federal Reserve decision and inflation reading. European futures DAX, CAC and FTSE trade higher by 0.46 per cent, 0.4 per cent and 0.52 per cent respectively.

Within the sectoral landscape Nifty Media, Nifty PSU Bank, Nifty Energy and Nifty Financial Services were among the top gainers while Nifty FMCG and Nifty Realty were among the top losers.

Coal India, Power Grid Corporation and LTIMindtree are among the top gainers within the Nifty 50 while, Hindustan Unilever, Britannia and Asian Paints are among the top losers.

About 1586 stocks are advancing as against to 556 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading moderately higher by 0.67 per cent, while Nifty gained by 0.69 per cent. Similarly, in the broader indices Nifty Midcap experience significant gains of 1 per cent, while Nifty Smallcap has soared by 1.2 per cent.

India VIX is has declined by 1.81 per cent and is trading around the mark of 14, indicating decreased market volatility.

Within the sectoral landscape, Nifty Media, Nifty PSU Bank, Nifty Energy and Nifty Financial Services among the top gainers while Nifty Realty and Nifty FMCG are among the top losers.

Top gainers in individual stocks are Coal India, BPCL and Power Grid Corporation whereas Britannia, Hindustan Unilever and Titan are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1650 stocks advancing compared to 482 stocks declining.

Market Update at 9:40 AM: On Wednesday, Indian markets started the trading day on a positive note with the Sensex and Nifty moderately surging, while the broader indices which include the Nifty Midcap 100 and Nifty Smallcap 100 outperformed the Benchmark indices and logged fresh highs, ahead of CPI data and US Fed meeting. Furthermore, Nifty Media was among the top gainers while Nifty FMCG was the biggest loser.

Sensex is trading moderately higher by 0.28 per cent, while Nifty is also trading higher by 0.34 per cent.  Similarly, in the broader indices Nifty Midcap opened higher with a gain of 0.73 per cent and record a new high of 54,094.40 level, while Nifty Smallcap has also soared by 0.76 per cent, making a new all-time high of 17,719.80 level.

India VIX has slightly declined by 2.2 per cent and is trading around the mark of 14, indicating slight decrease in market volatility.

Within the sectoral landscape Nifty Media, Nifty Energy and Nifty Metal were among the top gainers while Nifty FMCG and Nifty Realty were among the major losers.

BPCL, Coal India and HCL Technologies are among the top gainers within the Nifty 50 while, Titan, Asian Paints and Tata Consumer Product are among the top losers.

About 1723 stocks are advancing as against to 336 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:35 AM: The Nasdaq and S&P 500 climbed to new record highs on Tuesday, reversing earlier losses as investors braced for upcoming inflation data and the Federal Reserve’s policy meeting.

The Dow Jones Industrial Average dipped by 120.62 points, or 0.31 per cent, to close at 38,747.42. Meanwhile, the S&P 500 rose by 14.53 points, or 0.27 per cent, to 5,375.32, and the Nasdaq Composite increased by 151.02 points, or 0.88 per cent, to 17,343.55.

US 10-year Treasury yields remained steady at 4.40 per cent, while 2-year yields edged up slightly to 4.83 per cent ahead of the Consumer Price Index (CPI) report from the Labor Department.

Investors are anticipating the release of the US CPI data and the Federal Reserve's policy decision, both set to be unveiled today. The commentary from the US Fed could significantly influence market direction. Currently, investors are factoring in a single rate cut by the end of the year, and any variation from this expectation could impact the market either positively or negatively.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a decline of 0.13 per cent or 30 points. Nifty futures are currently trading near the 23,312.65 mark.

Oil prices edged up on Wednesday following optimistic global demand projections from the U.S. Energy Information Administration and OPEC.

Brent crude futures increased by 11 cents, or 0.1 per cent, to USD 82.04 a barrel, while U.S. West Texas Intermediate (WTI) crude futures climbed 18 cents, or 0.2 per cent, to USD 78.10.

On June 11, 2024, foreign institutional investors (FII) offloaded shares worth Rs 111.04 crore, while domestic institutional investors (DII) purchased shares worth Rs 3,193.29 crore.

Stocks that are banned for trading in the F&O segment on June 12, 2024, are BALRAMCHIN, GMRINFRA, HINDCOPPER, INDIACEM, SAIL and ZEEL.