Market Wrap: Benchmark indices close higher while Nifty Metal surges over 2.5 per cent!

On Wednesday, Benchmark indices concluded the trading day on a positive note as Sensex marginally gained by 0.16 per cent and closed at 73,852.94 level, while Nifty also marginally gained by 0.15 per cent and closed at 22,402.40 level.

Market Update at 3:35 PM: On Wednesday, Benchmark indices concluded the trading day on a positive note as Sensex marginally gained by 0.16 per cent and closed at 73,852.94 level, while Nifty also marginally gained by 0.15 per cent and closed at 22,402.40 level. Similarly, the Broader market experienced outperformance as Nifty Midcap closed substantially higher by 0.76 per cent, while Nifty Smallcap gained by 0.36 per cent.

Market volatility, as indicated by India VIX, has marginally gained by 1.5 per cent, reflecting an increase in market volatility.

Nifty Metal, Nifty Realty, Nifty Pharma and Nity Financial Services were among the top gainers while Nifty IT, Nifty Media, Nifty PSU Bank and Nifty Auto were among the top losers.

Hindalco, Cipla and JSW Steel were among the top gainers while Tata Consumer Product, Grasim and Tech Mahindra were among the top losing stocks from the Nifty 50.

About 1303 stocks were advancing as against to 783 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading moderately higher by 0.36 per cent, while Nifty also gained by 0.37 per cent. Similarly, in the broader indices Nifty Midcap has substantially surged by 0.85 per cent, while Nifty Smallcap has significantly gained by 0.76 per cent.

India VIX is currently trading marginally higher by 0.44 per cent, indicating a decrease in market volatility.

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

Cipla, JSW Steel and Tata Steel are among the top gainers while Tata Consumer Product, Titan and Tech Mahindra are among the top losing stocks from the Nifty 50.

About 1473 stocks are advancing as against 622 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 higher as Sensex has moderately gained by 0.38 per cent, while Nifty also gained by 0.39 per cent. Similarly, in the broader markets Nifty Midcap has substantially gained by 0.73 per cent, while Nifty Smallcap has surged by 0.52 per cent.

India VIX is currently trading marginally higher by 2.55 per cent, indicating a slight increase in market volatility.

European markets are set to open on a positive note on Wednesday, building gains seen since the start of the week. European futures DAX, and FTSE trade higher by 0.28 per cent and 0.2 per cent respectively, while CAC is trading marginally lower by 0.08 per cent.

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

JSW Steel, Tata Steel and Cipla are among the top gainers while Tata Consumer Product, Tech Mahindra and Infosys are among the top losing stocks from the Nifty 50.

About 1504 stocks are advancing as against to 586 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex surging by 0.47 per cent, while Nifty also gained by 0.42 per cent. Similarly, in the broader indices Nifty Midcap experience moderate gains of 0.59 per cent, while Nifty Smallcap has soared by 0.53 per cent.

India VIX is trading marginally lower by 1.03 per cent, indicating a slight decrease in market volatility.

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

Top gainers in individual stocks are Hindalco, Cipla and JSW Steel, whereas Tata Consumer Product, Infosys and Hindustan Unilever are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1581 stocks advancing compared to 480 stocks declining.

Market Update at 9:30 AM: On Wednesday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.25 per cent, while Nifty also opened higher by 0.22 per cent. Similarly, in the broader indices Nifty Midcap opened substantially higher by 0.61 per cent, while Nifty Smallcap also opened higher by 0.6 per cent.

India VIX has marginally surged by 1.59 per cent, indicating a slight increase in market volatility.

Nifty Realty, Nifty Metal and Nifty Media among the top gainers while Nifty FMCG is the only major sector which trading negatively.

Cipla, Hero Motocorp and Tata Steel are among the top gainers while Tata Consumer Product, HDFC Life and Indusind Bank are among the top losing stocks from the Nifty 50.

About 1656 stocks are advancing as against to 296 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: Tuesday saw US stocks closing higher, buoyed by strong earnings reports from leading companies and investors' attention on the Quarterly Results of prominent firms like the Magnificent Seven and other mega cap growth stocks.

The Dow Jones Industrial Average climbed 263.71 points, or 0.69 per cent, reaching 38,503.69, while the S&P 500 surged 59.95 points, or 1.20 per cent, closing at 5,070.55. Similarly, the Nasdaq Composite saw an uplift of 245.34 points, or 1.59 per cent, closing at 15,696.64.

The GIFT Nifty is signalling a promising beginning for the Indian Benchmark indices, with a rise of 78 points or 0.35 per cent. Nifty futures are hovering around the 22,454.50 level.

Early Wednesday, oil prices climbed, building on the previous session's uptick, spurred by unexpected data revealing a decline in U.S. crude inventories last week, indicating heightened demand.

Attention diverted from Middle Eastern tensions. Brent crude futures edged up by 9 cents to USD 88.51 a barrel, while US West Texas Intermediate crude futures increased by 10 cents to USD 83.45 a barrel.

On April 23, 2024, foreign institutional investors (FII) offloaded shares worth Rs 3,044.54 crore, while domestic institutional investors (DII) bought shares worth Rs 2,918.94 crore.

Stocks that are banned for trading in the F&O segment on April 24, 2024, are HINDCOPPER, IDEA and ZEEL.