Market Wrap: Benchmark indices close higher note after making new all-time highs!

On Thursday’s trading session Benchmark indices concluded the day on a positive note after making new all-time highs.

Market Update at 3:40 PM: On Thursday’s trading session Benchmark indices concluded the day on a positive note after making new all-time highs. Sensex closed moderately higher by 0.52 per cent after making a new all-time high of 72,484.35, while Nifty also surged by 0.57 per cent after reaching at its all-time high of 21,801.45. Similarly, Broader indices also closed on a higher note with Nifty Midcap surging by 0.56 per cent, while Nifty Smallcap surged by 0.79 per cent.

Market volatility, as indicated by India VIX, has plunged by 2.65 per cent, reflecting a decrease in market volatility.

Nifty Energy, Nifty FMCG, Nifty Pharma and Nifty PSU Bank were among the top gainers, while Nifty IT was the only major sector which underperformed.

Coal India, M&M and Hero Motocorp were among the top gainers while Adani Enterprises, Adani Ports and L&T were among the top losing stocks from the Nifty 50.

About 919 stocks were advancing as against to 1136 stocks that were declining, thus indicating a slight pessimistic sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade higher with the Sensex surging by 0.43 per cent, while Nifty soared by 0.45 per cent. Whereas, Nifty Midcap has surged by 0.47 per cent, while Nifty Smallcap is also experiencing a substantial gain of 0.74 per cent.

India VIX is currently trading marginally higher by 0.77 per cent, indicating a slight increase in market volatility.

Nifty PSU Bank, Nifty Energy and Nifty Metal are among the top gainers while Nifty Media and Nifty IT are among the top underperformers.

Coal India, NTPC and M&M are among the top gainers while Asian Paints, Eicher Motors and Infosys are among the top losing stocks from the Nifty 50.

About 925 stocks are advancing as against to 1026 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade higher with the Sensex surging by 0.47 per cent, while Nifty soared by 0.45 per cent. Whereas, Nifty Midcap has surged by 0.33 per cent, while Nifty Smallcap is also experiencing a substantial gain of 0.64 per cent.

India VIX is currently trading higher by 1.99 per cent, indicating a slight increase in market volatility.

European stocks are likely to open higher on Thursday after yields on 5–10-year U.S. Treasuries fell at least 10 bps on Wednesday, on dovish Fed bets. European futures DAX, CAC and FTSE trade higher by 0.34 per cent, 0.28 per cent and 0.29 per cent respectively.

Nifty Energy, Nifty Metal and Nifty PSU Bank are among the top gainers while Nifty Media is the only major sector which is currently underperforming.

Coal India, NTPC and Hero Motocorp are among the top gainers while Ultratech Cement, Eicher Motors and Infosys are among the top losing stocks from the Nifty 50.

About 975 stocks are advancing as against to 1073 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 11:11 AM: In the current trading session benchmark indices trade moderately higher with the Sensex trading higher by 0.38 per cent, while Nifty also trades higher by 0.37 per cent. Whereas, Nifty Midcap has marginally surged by 0.24 per cent, while Nifty Smallcap has soared by 0.53 per cent.

India VIX is currently trading higher by 3.36 per cent, indicating a slight increase in market volatility.

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

Hero Motocorp, NTPC and Coal India are among the top gainers while Maruti, Infosys and Adani Enterprises are among the top losing stocks from the Nifty 50.

About 983 stocks are advancing as against to 1043 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 9:30 AM: On Thursday, Indian markets initiated the trading day on a positive note with the Sensex opening moderately higher by 0.42 per cent making a new all-time high of 72,356.17, while Nifty also opened moderately higher by 0.4 per cent reaching its new all-time high of 21,744.25. Similarly, Nifty Midcap opened on a higher note surging by 0.3 per cent, while Nifty Smallcap opened significantly higher by 0.56 per cent.

India VIX has surged by 2.81 per cent, indicating a slight increase in market volatility.

Nifty PSU Bank, Nifty Metal and Nifty Bank are among the top gaining sectors while Nifty Realty, Nifty Media and Nifty IT are among the underperforming sectors.

JSW Steel, NTPC and Apollo Hospitals are among the top gainers while Bajaj Auto, Britannia and Ultratech Cement are among the top losing stocks from the Nifty 50.

About 1441 stocks are advancing as against to 475 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: In the U.S. markets S&P 500 futures remained nearly flat on Wednesday night as the index approached a potential new all-time high. Futures linked to both the S&P 500 and Nasdaq 100 showed little change, while Dow Jones Industrial Average futures experienced a marginal decline of 6 points, also maintaining near-flat levels.

This follows a modestly positive day on Wall Street, with the S&P 500 edging up by 0.1 per cent, approaching record highs. The Nasdaq Composite registered an increase of nearly 0.2 per cent, while the Dow, consisting of 30 stocks, closed 0.3 per cent higher. Despite the subdued movements, these developments occur as investors reflect on the conclusion of a robust year for the stock market.

With only two trading sessions remaining in the year, the Dow and S&P 500 are on track to conclude with gains exceeding 13 per cent and 24 per cent, respectively. The S&P 500 is within 0.5 per cent of its previous highest closing level, established in January 2022.

The GIFT Nifty suggests a slightly positive opening for the benchmark indices, with an increase of 81 points. GIFT Nifty futures reached 21,751 points after hitting a high of 21,792 points.

Oil prices steadied on Wednesday, following the robust gains of the previous day, as investors closely monitored developments in the Red Sea. Despite ongoing attacks and heightened tensions in the broader Middle East, some major shippers have resumed passage through the trade route.

Brent crude futures declined by 55 cents, or 0.68 per cent, to reach USD 80.52 a barrel, while US West Texas Intermediate crude saw a decrease of 74 cents, or 0.98 per cent, settling at USD 74.83 a barrel. In the preceding session, both benchmarks surged over 2 per cent due to renewed concerns about shipping disruptions in the Red Sea, coupled with optimism regarding potential U.S. interest rate cuts that could stimulate economic growth and fuel demand.

Notably, despite the attacks by the Iran-backed Houthi militia in Yemen, prominent shipping companies such as Maersk and France's CMA CGM resumed passage through the Red Sea following the deployment of a multinational task force to the region.

The Dollar index registered a 0.59 per cent decline in futures, reaching 100.87, while the value of one dollar remained close to Rs 83.28.

On December 27, 2023, foreign institutional investors (FII) bought shares worth Rs 2,926.05 crore, while domestic institutional investors (DII) offloaded shares worth Rs 192.01 crore.

Stocks that are banned for trading in the F&O segment on December 28, 2023, are NATIONALUM and RBLBANK.