Market Wrap: Benchmark indices close higher while Nifty PSU bank surges over 3.5 per cent!

On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.66 per cent and closed at 74,339.44 level, while Nifty also significantly gained by 0.75 per cent and closed at 22,570.35 level.

Market Update at 3:45 PM: On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.66 per cent and closed at 74,339.44 level, while Nifty also significantly gained by 0.75 per cent and closed at 22,570.35 level. Similarly, the Broader market experienced moderate gains as Nifty Midcap closed higher by 0.4 per cent, while Nifty Smallcap gained by 0.8 per cent.

Market volatility, as indicated by India VIX, has gained by 4.43 per cent, reflecting an increase in market volatility.

Nifty PSU Bank, Nifty Pharma, Nifty Auto and Nity Metal were among the top gainers while Nifty Realty was the only major sector which underperformed.

Axis Bank, SBI and Dr Reddy’s laboratories were among the top gainers while Kotak Bank, LTIMindtree and Hindustan Unilever were among the top losing stocks from the Nifty 50.

About 1159 stocks were advancing as against to 941 stocks 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 positive note with the Sensex trading moderately higher by 0.41 per cent, while Nifty also gained by 0.42 per cent. Similarly, in the broader indices Nifty Midcap has surged by 0.35 per cent, while Nifty Smallcap has significantly gained by 0.79 per cent.

India VIX is currently trading higher by 7.13 per cent, indicating an increase in market volatility.

Nifty PSU Bank, Nifty Pharma and Nifty Auto are among the top gainers while Nifty Realty is the only major sector which underperforming.

Axis Bank, SBI and Dr Reddy’s Laboratories are among the top gainers while Kotak Bank, LTIMindtree and Titan are among the top losing stocks from the Nifty 50.

About 1199 stocks are advancing as against 886 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM In the current trading session benchmark indices trade marginally higher as Sensex has slightly gained by 0.01 per cent, while Nifty also gained by 0.02 per cent. Similarly, in the broader markets Nifty Midcap has marginally gained by 0.06 per cent, while Nifty Smallcap has surged by 0.65 per cent.

India VIX is currently trading higher by 9.12 per cent, indicating an increase in market volatility.

European markets are set to open higher on Thursday, rebounding from a dip in yesterday’s session as investors look ahead to a fresh set of earnings. European futures CAC and FTSE trade higher by 0.12 per cent and 0.87 per cent respectively, while DAX is trading marginally lower by 0.11 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.

Axis Bank, SBI and Hero Motocorp are among the top gainers while Kotak Bank, LTIMindtree and Titan are among the top losing stocks from the Nifty 50.

About 1125 stocks are advancing as against to 967 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 marginally increasing by 0.18 per cent, while Nifty also gained by 0.13 per cent. Whereas, in the broader indices Nifty Midcap experience moderate marginal decline of 0.09 per cent, while Nifty Smallcap has surged by 0.41 per cent.

India VIX is trading marginally higher by 1.31 per cent, indicating a slight increase in market volatility.

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

Top gainers in individual stocks are Axis Bank, SBI and HCL Technologies, whereas Kotak Bank, LTIMindtree and Tata Consumer Product are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1093 stocks advancing compared to 959 stocks declining.

Market Update at 9:35 AM: On Thursday, Indian markets initiated the trading day on a negative note with Sensex opening marginally lower by 0.12 per cent, while Nifty also opened lower by 0.15 per cent. Similarly, in the broader indices Nifty Midcap opened moderately higher by 0.21 per cent, while Nifty Smallcap also opened higher by 0.64 per cent.

India VIX has marginally surged by 2.38 per cent, indicating a slight increase in market volatility.

Nifty PSU Bank, Nifty Media and Nifty Pharma are among the top gainers while Nifty Realty, Nifty FMCG and Nifty Financial Services are among the top losers.

Axis Bank, HCL Technologies and Eicher Motors are among the top gainers while Kotak Bank, Tata Consumer Product and LTIMindtree are among the top losing stocks from the Nifty 50.

About 1229 stocks are advancing as against to 705 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: In a volatile session, the S&P 500 ended slightly higher on Wednesday, as investors assessed rising Treasury yields alongside upbeat corporate earnings, notably from tech leaders.

The S&P 500 edged up by 1.08 points, or 0.02 per cent, to 5,071.63, while the Nasdaq Composite rose by 16.11 points, or 0.10 per cent, reaching 15,712.75. Meanwhile, the Dow Jones Industrial Average dipped by 42.77 points, or 0.11 per cent, closing at 38,460.92.

Indications from the GIFT Nifty suggest a lower opening for the Indian Benchmark indices, with a decline of 61.50 points or 0.27 per cent. The Nifty futures hovered around the 22,358.50 level.

On Wednesday, oil prices saw moderate declines as concerns regarding Middle East tensions eased and economic activity in the top oil-consuming nation slowed. However, a decrease in US crude inventories helped limit the extent of these losses.

Brent crude futures dipped by 27 cents, or 0.31 per cent, reaching USD 88.15 per barrel, while US West Texas Intermediate crude futures dropped by 38 cents, or 0.46 per cent, settling at USD 82.98.

On April 24, 2024, foreign institutional investors (FII) offloaded shares worth Rs 2,511.74 crore, while domestic institutional investors (DII) bought shares worth Rs 3,809.90 crore.

Stocks that are banned for trading in the F&O segment on April 25, 2024, are ABFRL, HINDCOPPER and SAIL.