Market Wrap: Benchmark indices close higher while Broader indices close lower!

On August 11, foreign institutional investors (FII) bought shares worth Rs 331.22 crore, while domestic institutional investors (DII) purchased shares worth Rs 703.72 crore.

Market Update at 3:45 PM: Sensex has concluded the trading session on a positive note, marking a modest increase of 0.12 per cent. Similarly, the Nifty has managed to secure marginal gains, closing higher by a slight 0.03 per cent.

Within the Nifty spectrum, the Nifty Midcap has experienced a decrease, closing lower by 0.17 per cent. Meanwhile, the Nifty Smallcap has encountered a more substantial decline, concluding the session with a notable 0.73 per cent decrease.

Adding to the landscape, the India VIX, a measure of market volatility, has undergone a marginal surge of 4.08 per cent.

Sector-wise, the Nifty Media, Nifty IT, and Nifty FMCG segments have emerged as the major top gainers during this trading session, showcasing robust positive momentum. Conversely, the Nifty Metal, Nifty PSU Bank, and Nifty Realty sectors have struggled, landing among the top losers.

Focusing on specific stocks, LTIMindtree, Infosys, and Divi’s Laboratories have stood out as top gainers within the Nifty 50 index. On the flip side, Adani Enterprises, JSW Steel, and Hindalco have experienced declines, making them prominent losers in this context.

A deeper analysis of the market sentiment reveals that approximately 711 stocks have advanced, whereas 1251 stocks have declined. This discrepancy underscores a prevailing negative sentiment within the broader market landscape.

Market Update at 2:20 PM: In the latest market development, the Sensex and Nifty indices are trading flat with minimal changes in value.

However, within the broader Nifty spectrum, the Nifty Midcap has experienced a moderate decline of 0.22 per cent, while the Nifty Smallcap is encountering a more pronounced drop of 0.74 per cent.

 India VIX has surged by 5.99 per cent, suggesting a notable increase in market volatility.

In terms of sectoral performance, Nifty Media, Nifty IT, and Nifty FMCG are emerging as the top gainers, displaying positive momentum. Conversely, Nifty Metal, Nifty Realty, and Nifty Pharma are grappling with declines, contributing to their status as the top losers.

Among the specific stock movements within the Nifty 50, LTIMindtree, Hindustan Unilever, and Infosys are standing out as top gainers. On the flip side, Adani Enterprises, Hindalco, and JSW Steel are among the prominent losers within this index.

The market sentiment reveals that approximately 711 stocks are on an upward trajectory, while 1251 stocks are witnessing declines. This  contrast underscores a prevailing negative sentiment within the broader market landscape.

Market Update at 12:40 PM: Both the Sensex and Nifty indices have experienced notable declines, with the Sensex down by 0.24 per cent and the Nifty down by 0.33 per cent. Simultaneously, the Nifty Midcap has also registered a decline of 0.55 per cent, while the Nifty Smallcap is displaying a significant drop of 0.88 per cent.

Looking at global trends, European markets are bracing for a lower opening on Monday morning following a series of lackluster sessions last week. The futures for the DAX and FTSE indices are reflecting this sentiment with declines of 0.23 per cent and 0.26 per cent respectively.

Turning our attention back to India, the India VIX has surged by a substantial 5.64 per cent, indicating a heightened level of market volatility.

Within the Indian market, the sectoral performance is varied. Nifty Media and Nifty FMCG have emerged as the top gainers, showing positive momentum. Conversely, Nifty Metal, Nifty Realty, and Nifty PSU Bank are the top losers, experiencing notable setbacks.

Examining specific stock movements, ONGC, Hindustan Unilever, and Infosys are standing out as top gainers among the Nifty 50 companies. On the flip side, Adani Enterprises, SBIN, and JSW Steel are facing declines, contributing to the overall downward trend.

The broader market sentiment is displaying a negative outlook, as approximately 650 stocks are advancing in contrast to 1360 stocks that are witnessing declines. This divergence indicates an overall pessimistic sentiment in the broader market landscape.

Market Update at 11:00 AM: In today's market update, both the Sensex and Nifty have registered noteworthy declines, marking decreases of 0.5 per cent and 0.6 per cent respectively.

Notably, the Nifty Midcap segment has also experienced a decline of 0.76 per cent, while the Nifty Smallcap has undergone a significant drop of 1.06 per cent.

A notable development is the substantial 6.60 per cent surge in India VIX, indicating a notable increase in market volatility.

Among the top gainers, Nifty Media and Nifty FMCG stand out, displaying strength in their performances. Conversely, Nifty Metal, Nifty Realty, and Nifty Auto sectors find themselves among the leading losers.

Shifting our focus to individual stock movements, ONGC, Hindustan Unilever, and Dr Reddy’s lead the pack in terms of gains, demonstrating their resilience within the Nifty 50. In contrast, Adani Enterprises, JSW Steel, and Hindalco are prominent names among the leading losers.

In terms of market sentiment, approximately 565 stocks are on the rise, while 1419 stocks are experiencing declines. This balance, skewed towards the declining side, signifies a prevailing negative sentiment in the broader market.

Market Update at 9:35 AM: As the trading day commenced, both the Sensex and Nifty registered significant declines, showing a drop of 0.76 per cent and 0.87 per cent respectively.

Likewise, the Nifty Midcap and Nifty Smallcap also experienced notable decreases in their opening values, with the Nifty Midcap seeing a substantial drop of 1.34 per cent and Nifty Smallcap experiencing a significant decline of 1.86 per cent

Market volatility surged as indicated by the India VIX, which recorded a notable increase of 9.11 per cent.

Across the spectrum of major sectors, a broad underperformance was evident, with Nifty Metal, Nifty PSU Bank, and Nifty Realty emerging as the primary losers.

In the early trading hours, ONGC, Sun Pharma and Dr Reddy’s Laboratories displayed strong gains, while Adani Enterprises, Adani Ports and Hindalco found themselves among the top losers within the Nifty 50.

Looking at market breadth, approximately 339 stocks were advancing while around 1574 stocks were in decline. This distribution underscores a prevailing negative sentiment within the broader market.

Pre-Market Update at 8:10 AM: The US market has faced difficulties in maintaining its upward momentum in late summer. Last week, the S&P 500 and Nasdaq Composite experienced declines of 0.31 per cent and 1.90 per cent, respectively, marking the Nasdaq Composite's first two-week losing streak in the year. In contrast, the Dow Jones Industrial Average managed to secure a 0.62 per cent gain, marking its fourth positive week out of five.

In the coming week, the focus will likely be on the US consumer's condition, with upcoming earnings releases from Home Depot, Target and Walmart. Additionally, retail sales data for July is set to be released on Tuesday. These earnings reports follow a collection of varied inflation reports from the previous week, revealing that while price increases have moderated from their post-pandemic highs, they remain above the Federal Reserve's 2 per cent objective.

Oil prices increased slightly on Friday as the International Energy Agency predicted strong global demand and limited supplies, driving prices to their seventh consecutive week of growth, marking the longest streak since 2022. Brent crude futures climbed by 19 cents to reach a settlement of USD 86.59 per barrel. The Dollar index showed a 0.15 per cent rise in futures at 102.96, with the value of one dollar remaining near Rs 82.90

The GIFT Nifty signals a slightly bearish start for the broader index, showing a decline of 42 points. This comes after the Nifty ended the previous session with a drop of 114 points to reach 19,428 points on August 11. GIFT Nifty futures were positioned at 19,449 points.

On August 11, foreign institutional investors (FII) bought shares worth Rs 331.22 crore, while domestic institutional investors (DII) purchased shares worth Rs 703.72 crore.

Stocks that are banned for trading in the F&O segment on August 14, 2023, are Chambal Fertilisers & Chemicals Ltd, Balrampur Chini Mills, Delta Corp, Granules, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram and Zee Entertainment.