Market Wrap: Benchmark indices close higher, while Nifty Midcap Outperformed!

Thursday's trading session concluded on a positive note, with the Sensex and Nifty closing higher by 0.47 per cent and 0.46 per cent respectively.

Market Update at 3:40 PM: Thursday's trading session concluded on a positive note, with the Sensex and Nifty closing higher by 0.47 per cent and 0.46 per cent respectively. This upward trajectory extended to broader indices, witnessing Nifty Midcap and Nifty Smallcap surging by 0.78 per cent and 0.58 per cent respectively.

Market volatility, as measured by India VIX, experienced a notable uptick of 4.98 per cent, reflecting an increase in market uncertainty.

Sectoral movements showcased Nifty IT, Nifty Realty, and Nifty Pharma as top gainers, while Nifty FMCG, Nifty PSU Bank, and Nifty Bank faced losses.

Individual stock movements highlighted Hero Motocorp, Tech Mahindra, and TCS as top performers, whereas Axis Bank, Power Grid, and Coal India encountered declines within the Nifty 50.

The broader market sentiment indicated a slight optimistic trend, with 1045 advancing stocks compared to 967 declining stocks, signifying an optimistic outlook in the broader market.

Market Update at 2:15 PM: In the current trading session, the Sensex and Nifty are surging, showcasing gains of 0.76 per cent and 0.72 per cent respectively. Correspondingly, Nifty Midcap and Nifty Smallcap are also exhibiting positive momentum, with increases of 0.72 per cent and 0.76 per cent respectively.

The India VIX has witnessed a significant surge of 6.02 per cent, pointing towards heightened market volatility.

Notable performers in the sectoral landscape include Nifty IT, Nifty Pharma, and Nifty Auto, while Nifty PSU Bank and Nifty FMCG trade on a relatively flat note.

Leading the gainers within the Nifty 50 are TCS, Tech Mahindra, and Dr Reddy’s Laboratories, whereas Power Grid, Coal India, and Tata Consumer Product find themselves among the top losing stocks.

The broader market sentiment remains optimistic, with 1189 advancing stocks compared to 830 declining stocks, indicating a positive outlook in the broader market.

Market Update at 12:35 PM: In the current trading session, the Sensex and Nifty are exhibiting resilience, trading higher by 0.65 per cent and 0.6 per cent respectively. Correspondingly, Nifty Midcap and Nifty Smallcap are showcasing positive momentum, with gains of 0.47 per cent and 0.66 per cent respectively.

India VIX has experienced a notable surge of 5.32 per cent, indicating an uptick in market volatility.

European markets are heading for a negative open on Thursday, reversing positive sentiment seen earlier in the week after the release of positive data from the US and China. European futures DAX, CAC and FTSE trade lower by 0.04 per cent, 0.06 per cent and 0.07 per cent.

Among the sectors, Nifty IT, Nifty Pharma, and Nifty Auto are leading the gainers, while Nifty PSU Bank is the sole major sector currently underperforming.

Top gainers within the Nifty 50 include TCS, Tech Mahindra, and Infosys, whereas Power Grid, Coal India, and Hindalco find themselves among the leading decliners.

The broader market sentiment remains positive, with 1200 advancing stocks compared to 807 declining stocks, signalling an overall optimistic outlook in the broader market.

Market Update at 11:10 AM:  In the ongoing trading session, the Sensex and Nifty are making notable gains, rising by 0.47 per cent and 0.44 per cent respectively. Similarly, Nifty Midcap and Nifty Smallcap are exhibiting positive momentum, recording increases of 0.32 per cent and 0.61 per cent respectively.

India VIX has witnessed a significant surge of 3.6 per cent, indicating an uptick in market volatility.

Among the sectors, Nifty Energy, Nifty IT, and Nifty Pharma are leading the gainers, while Nifty Metal and Nifty PSU Bank face losses.

Top gainers within the Nifty 50 include NTPC, TCS, and Hero Motocorp, whereas Hindalco, Power Grid, and Adani Enterprises find themselves among the leading decliners.

The broader market sentiment remains positive, with 1273 advancing stocks compared to 717 declining stocks, signalling an overall optimistic outlook in the broader market.

Market Update at 9:35 AM: Thursday's trading session witnessed the Sensex and Nifty opening slightly lower by 0.15 per cent and 0.17 per cent respectively. In contrast, Nifty Midcap and Nifty Smallcap started the day on a positive note, gaining 0.23 per cent and 0.46 per cent, respectively.

India VIX showed an uptick of 1.26 per cent, signalling a mild increase in market volatility.

The sectoral landscape displayed diverse movements, with Nifty Energy, Nifty Media, and Nifty Realty leading the gainers, while Nifty Metal, Nifty FMCG, and Nifty Financial Services faced losses.

Top gainers within the Nifty 50 included BPCL, NTPC, and ONGC, whereas Bajaj Finance, Power Grid, and Grasim found themselves among the leading decliners.

The broader market sentiment remains positive, with 1219 advancing stocks compared to 697 declining stocks, suggesting an overall optimistic outlook.

Pre-Market Update at 8:10 AM: S&P 500 futures showed minimal change on Wednesday night as investors aimed to sustain the positive momentum from November. Futures linked to the broad-market index edged down by 0.04 per cent, while Dow Jones Industrial Average futures dipped by 0.04 per cent. Nasdaq 100 futures experienced a 0.1 per cent decline.

These movements followed a successful day on Wall Street where investors welcomed favourable inflation data. The Dow gained over 160 points, concluding its fourth consecutive winning session with an approximate 0.5 per cent increase. The S&P 500 and Nasdaq Composite both rose by about 0.2 per cent and 0.1 per cent, respectively. October's producer price index, a measure of wholesale prices, saw a 0.5 per cent decrease, marking its most significant monthly decline since April 2020.

The GIFT Nifty signals a slightly optimistic commencement for the benchmark indices, showing a gain of 6 points. GIFT Nifty futures reached 19,763 points, reaching a peak at 19,770 points.

Oil prices experienced a decline on Wednesday, as indications emerged that the United States, the world's largest oil producer, may have reached peak production. This offset positive signals for crude demand coming from the top consumer, China.

Brent futures saw a decrease of 92 cents, reaching USD 81.55 per barrel. In the futures market, the Dollar index traded 0.30 per cent higher at 104.36, while the value of one dollar remained around Rs 83.18.

On November 15, 2023, foreign institutional investors (FII) bought shares worth Rs 550.19 crore, while domestic institutional investors (DII) purchased shares worth Rs 609.82 crore.

Stock that are banned for trading in the F&O segment on November 16, 2023, are DELTACORP, HINDCOPPER, IBULHSGFIN, MCX, SAIL and ZEEL.