Market Wrap: Benchmark close on a lower note while Nifty Smallcap underperformed!

On Tuesday, Frontline indices concluded the day on a negative note as Sensex closed moderately lower by 0.27 per cent concluding at 73,128.78 level, while Nifty also closed at 22,032.30 after plunging by 0.29 per cent.

Market Update at 3:35 PM: On Tuesday, Frontline indices concluded the day on a negative note as Sensex closed moderately lower by 0.27 per cent concluding at 73,128.78 level, while Nifty also closed at 22,032.30 after plunging by 0.29 per cent. Similarly Broader indices closed moderately lower with Nifty Midcap plunging by 0.36 per cent, while Nifty Smallcap plummeted by 0.48 per cent.

Market volatility, as indicated by India VIX, has plunged by 1.81 per cent, reflecting a decrease in market volatility.

Nifty Metal, Nifty FMCG, Nifty Media and Nifty PSU Bank were among the top gainers, while Nifty Realty, Nifty IT, Nifty Pharma and Nifty Energy were among the top losers.

BPCL, Tata Steel and Titan were among the top gainers while Divi's Laboratories, HCL Technologies and Wipro were among the top losing stocks from the Nifty 50.

About 627 stocks were advancing as against to 1603 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:25 PM: In the current trading session benchmark indices trade on a lower note with the Sensex moderately declining by 0.19 per cent, whereas Nifty also plummeted by 0.21 per cent. Similarly, Nifty Midcap has plunged by 0.42 per cent, while Nifty Smallcap trades moderately lower by 0.56 per cent

India VIX is currently trading lower by 0.94 per cent, indicating a slight decrease in market volatility.

Nifty Metal, Nifty PSU Bank and Nifty Media are among the top gainers, while Nifty Realty, Nifty IT and Nifty Pharma are among the top losers.

BPCL, Tata Steel and Titan are among the top gainers while Divi’s Laboratories, HCL Technologies and Wipro are among the top losing stocks from the Nifty 50.

About 576 stocks are advancing as against to 1648 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices trade lower with the Sensex plunging by 0.08 per cent, while Nifty also plummeted by 0.09 per cent. Whereas, in the broader indices Nifty Midcap is trading flat, while Nifty Smallcap is experiencing a marginal decline of 0.04 per cent.

India VIX is currently trading marginally lower by 0.11 per cent, indicating a slight decrease in market volatility.

European stocks are heading for a lower open on Tuesday as markets continue to focus on news on comments from World Economic Forum in Davos, Switzerland. European futures DAX, CAC and FTSE trade lower by 0.48 per cent, 0.43 per cent and 0.32 per cent respectively.

Nifty PSU Bank, Nifty Media and Nifty Metal are among the top gainers, while Nifty Realty, Nifty IT and Nifty Pharma are among the top losers.

BPCL, Titan and Tata Motors are among the top gainers while Divi’s Laboratories, Wipro and HCL Technologies are among the top losing stocks from the Nifty 50.

About 872 stocks are advancing as against to 1330 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:25 AM: In the current trading session benchmark indices trade marginally higher with Sensex surging by 0.03 per cent, while Nifty marginally surged by 0.04 per cent. Similarly, Nifty Midcap has moderately surged by 0.35 per cent, while Nifty Smallcap has also marginally surged by 0.16 per cent.

India VIX is currently trading marginally higher by 0.40 per cent, indicating a slight increase in market volatility.

Nifty PSU Bank, Nifty Media and Nifty Auto are among the top gainers while Nifty Realty, Nifty IT and Nifty Metal Pharma are among the top losers.

Titan, BPCL and ONGC are among the top gainers while, HCL Technologies, Wipro and Divi’s Laboratories are among the top losing stocks from the Nifty 50.

About 1138 stocks are advancing as against to 1050 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 9:40 AM: On Tuesday, Indian markets initiated the trading day on a negative note with the Sensex opening marginally lower by 0.2 per cent, while Nifty also opened marginally lower by 0.19 per cent. Similarly Nifty Midcap opened higher by 0.2 per cent, while Nifty Smallcap also opened marginally higher by 0.1 per cent.

India VIX has marginally surged by 1.07 per cent, indicating a slight increase in market volatility.

Nifty Media, Nifty Auto and Nifty PSU Bank are among the top gainers while Nifty IT, Nifty Pharma and Nifty Energy are among the top losers.

Tata Motors, Hero Motocorp and Bajaj Finance are among the top gainers while HCL Technologies, Wipro and Divi’s Laboratories are among the top losing stocks from the Nifty 50.

About 1172 stocks are advancing as against to 927 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:10 AM: U.S. Stock futures are down on Monday night as Wall Street anticipates additional data and bank earnings that will offer a clearer view of the American consumer's situation.

Futures linked to the Dow Jones Industrial Average declined by 50 points, equivalent to a 0.1 per cent decrease. S&P 500 futures experienced a dip of over 0.1 per cent, while Nasdaq 100 futures dropped by 0.2 per cent.

Investors are focusing on forthcoming December retail sales data, expected on Wednesday, which could amplify concerns about a potential economic downturn if there is a slowdown in US consumer spending.

The GIFT Nifty suggests a slightly bearish start for the benchmark indices, showing a decrease of 51 points. GIFT Nifty futures reached 22,092 points, having reached a peak of 22,184 points.

Oil prices declined on Monday as traders monitored the risk of supply disruptions in the Middle East. This concern arose after U.S. and British forces conducted strikes to thwart Houthi militia attacks on ships in the Red Sea.

Brent crude futures dropped by 31 cents, or 0.4 per cent, to USD 77.98 per barrel, following a 1.1 per cent increase on Friday. U.S. West Texas Intermediate crude stood at USD 72.36 per barrel, down 32 cents, or 0.4 per cent, after experiencing nearly a 1 per cent gain in the previous session.

Last week, the benchmarks recorded a more than 2 per cent surge, reaching their highest intraday levels this year. This uptick occurred in response to numerous air strikes launched by U.S. and British forces against Houthi forces, retaliation for months of attacks on Red Sea shipping, which the Iran-backed fighters justified as a response to the conflict in Gaza.

The Dollar index dipped by 0.06 per cent in futures, reaching 102.22, while the value of a single dollar remained around Rs 83.09.

On January 15, 2024, foreign institutional investors (FII) bought shares worth Rs 1,085.72 crore, while domestic institutional investors (DII) offloaded shares worth Rs 820.69 crore.

Stocks that are banned for trading in the F&O segment on January 16, 2024, are BANDHANBNK, BHEL, BIOCON, CHAMBLFERT, DELTACORP, ESCORTS, HINDCOPPER, INDIACEM, INDUSTOWER, METROPOLIS, PEL, POLYCAB, PVRINOX, SAIL and ZEEL.