Market Wrap: Benchmark close on a mixed note while Broader indices reach record highs!

On Tuesday, Benchmark indices concluded trading day on a mixed note as Sensex marginally declined by 0.04 per cent and closed at 76,456.60 level, while Nifty slightly gained by 0.02 per cent and closed at 23,264.60 level.

Market Update at 3:45 PM: On Tuesday, Benchmark indices concluded trading day on a mixed note as Sensex marginally declined by 0.04 per cent and closed at 76,456.60 level, while Nifty slightly gained by 0.02 per cent and closed at 23,264.60 level. Whereas the Broader market also experienced gains as Nifty Midcap closed significantly higher by 0.81 per cent and made a record high of 53,880.50 level, while Nifty Smallcap soared by 0.55 per cent and reached its all-time high of 17,665.55 level.

Market volatility, as indicated by India VIX, has substantially declined by 9.96 per cent and is trading around the level of 14 reflecting a decrease in market volatility.

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

ONGC, L&T and Adani Ports were among the top gainers while on the other hand Kotak Bank, Divi’s Laboratories and Asian Paints were among the top losers.

About 1371 stocks were advancing as against to 761 that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:05 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading moderately higher by 0.24 per cent, while Nifty surged by 0.33 per cent. Similarly, in the broader indices Nifty Midcap has gained by 1.08 per cent, while Nifty Smallcap has soared by 0.93 per cent.

India VIX is currently trading significantly lower by 9.6 per cent and is trading around the level of 14 indicating decreased market volatility.

Within the sectoral landscape, Nifty Media, Nifty Realty, Nifty Auto and Nifty Energy among the top gainers while Nifty Financial Services is the only major sector which is underperforming.

ONGC, L&T and Adani Ports are among the top gainers while Kotak Bank, Dr Reddy’s Laboratories and Asian Paints are among the top losing stocks from the Nifty 50.

About 1547 stocks are advancing as against 598 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:30 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 0.9 per cent.

India VIX is trading substantially lower by 8.4 per cent around the mark of 15 indicating decreased market volatility.

European markets are expected to open higher on Tuesday, as investors look ahead to the Federal Reserve’s next meeting and U.S inflation data. European futures DAX, CAC and FTSE trade higher by 0.22 per cent, 0.27 per cent and 0.38 per cent respectively.

Within the sectoral landscape Nifty Realty, Nifty Media, Nifty Auto and Nifty Metal were among the top gainers while there were no major sectors which underperformed.

ONGC, L&T and Adani Ports are among the top gainers within the Nifty 50 while, Asian Paints, Dr Reddy’s Laboratories and Kotak Bank are among the top losers.

About 1571 stocks are advancing as against to 566 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading moderately higher by 0.28 per cent, while Nifty gained by 0.31 per cent. Similarly, in the broader indices Nifty Midcap experience significant gains of 0.96 per cent, while Nifty Smallcap has soared by 0.73 per cent.

India VIX is has declined by 6.94 per cent and is trading around the mark of 15, indicating decreased market volatility.

Within the sectoral landscape, Nifty Realty, Nifty Auto, Nifty Metal and Nifty Media among the top gainers while currently no major sectors are underperforming.

Top gainers in individual stocks are ONGC, L&T and Hero Motocorp whereas Asian Paints, BPCL and Dr Reddy’s Laboratories are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1590 stocks advancing compared to 546 stocks declining.

Market Update at 9:40 AM: On Tuesday, Indian markets started the trading day on a negative note with the Sensex and Nifty trading in red, while the broader indices which include the Nifty Midcap 100 and Nifty Smallcap 100 outperformed the Benchmark indices. Furthermore, Nifty Realty was among the top gainers while Nifty Financial Services was the biggest loser.

Sensex is trading marginally lower by 0.11 per cent, while Nifty is also trading lower by 0.1 per cent.  Contrarily, in the broader indices Nifty Midcap opened higher with a gain of 0.27 per cent, while Nifty Smallcap has declined by 0.09 per cent after making a new all-time high of 17,557.65 level.

India VIX has slightly declined by 2.41 per cent and is trading around the mark of 16, indicating slight decrease in market volatility.

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

ONGC, Britannia and M&M are among the top gainers within the Nifty 50 while, BPCL, Dr Reddy’s Laboratories and JSW Steel are among the top losers.

About 1246 stocks are advancing as against to 810 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:55 AM: The S&P 500 and Nasdaq achieved record highs on Monday, though investors exhibited caution ahead of the consumer prices report and a Federal Reserve policy announcement later this week.

Supporting the gains in the Nasdaq and S&P 500, Nvidia shares rose by 0.7 per cent, following a recent 10-for-one stock split. Some investors speculate that the chip maker might soon be included in the Dow Jones Industrial Average.

The Consumer Price Index (CPI) report for May is scheduled for release on Wednesday, coinciding with the conclusion of the Fed's two-day policy meeting.

The Dow Jones Industrial Average increased by 69.05 points, or 0.18 per cent, to 38,868.04. The S&P 500 advanced by 13.8 points, or 0.26 per cent, to 5,360.79, and the Nasdaq Composite climbed by 59.40 points, or 0.35 per cent, to 17,192.53.

Meanwhile, US 10-year Treasury yields decreased by 31 basis points to 4.45 per cent, and the 2-year bond yield dropped 17 basis points to 4.87 per cent, ahead of the CPI report and the Fed meeting.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a decline of 0.04 per cent or 8 points. Nifty futures are currently trading near the 23,230 mark.

Oil prices increased on Tuesday, continuing the previous day's rally fueled by expectations of higher seasonal fuel demand and potential U.S. crude purchases to replenish the Strategic Petroleum Reserve. However, gains were tempered by a stronger dollar.

Brent crude futures rose by 28 cents, or 0.3 per cent, to USD 81.91 per barrel, while U.S. West Texas Intermediate crude futures increased by 31 cents, or 0.4 per cent, to USD 78.05.

On June 10, 2024, foreign institutional investors (FII) bought shares worth Rs 2,572.38 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,764.46 crore.

Stocks that are banned for trading in the F&O segment on June 11, 2024, are BALRAMCHIN, INDIACEM, SAIL and ZEEL.