Market Wrap: Benchmark indices close lower amid reduced volatility!

In a recap of Thursday’s market action, the benchmark indices closed the trading session with losses.

Market Update on 3:45 PM: In a recap of Thursday’s market action, the benchmark indices closed the trading session with losses. The Sensex registered a decrease of 0.22 per cent, closing lower, while the Nifty plunged by 0.25 per cent, also concluding on a negative note. However, the broader indices closed on a mixed note with the Nifty Midcap closing higher by 0.22 per cent and Nifty Smallcap, closing lower by 0.24 per cent.

Market volatility displayed a slight decrease, with India VIX decreasing by 0.84 per cent.

The top-performing sectors of the day included Nifty Realty, Nifty Auto, and Nifty Bank, while Nifty FMCG, Nifty IT and Nifty Metal were among the top losing sectors.

Notable individual stock movements featured M&M, Apollo Hospitals and Coal India as the top gainers, while Adani Enterprises, Hindustan Unilever, and Adani Ports faced declines within the Nifty 50 index.

The broader market sentiment remained optimistic, with around 770 advancing stocks compared to 1246 declining stocks, highlighting a negative outlook in the broader market.

Market Update at 2:15 PM: The Sensex and Nifty recorded a decline of 0.12 per cent each in the ongoing trading session. On the flip side, the broader market displayed a mixed performance, with Nifty Midcap advancing by 0.42 per cent and Nifty Smallcap marginally higher by 0.05 per cent.

Market volatility saw a slight reduction, with India VIX plunging by 1.34 per cent.

In the sectoral landscape, Nifty Realty, Nifty Auto, and Nifty Media emerged as the top gainers, while Nifty FMCG, Nifty IT, and Nifty Energy faced losses.

Leading the gainers in individual stocks were M&M, Coal India, and Apollo Hospitals. Conversely, Adani Enterprises, Tata Consumer Product, and Hindustan Unilever experienced declines within the Nifty 50.

The broader market sentiment indicated a mild negative inclination, with 895 stocks advancing compared to 1114 stocks declining, signalling mixed signals in the broader market.

Market Update at 12:40 PM: The Sensex and Nifty were trading with minimal changes in the current trading session. Meanwhile, in the broader market, Nifty Midcap advanced by 0.52 per cent, and Nifty Smallcap gained 0.18 per cent.

Market volatility exhibited a slight decrease, with India VIX declining by 0.93 per cent.

In Europe, markets were poised to open lower again, continuing a negative trend. European futures indicated marginal declines, with DAX and CAC down by 0.01 per cent and 0.04 per cent, while FTSE showed a modest increase of 0.17 per cent.

Key sectors making positive strides included Nifty Realty, Nifty Auto, and Nifty Media, while Nifty FMCG, Nifty IT, and Nifty Metal witnessed early losses.

Prominent gainers in this session featured M&M, Hero Motocorp, and Apollo Hospitals, while Tech Mahindra, Tata Consumer Product, and Hindustan Unilever experienced declines within the Nifty 50.

The broader market had a slightly negative tilt, with 994 stocks advancing compared to 1015 stocks declining, reflecting a mild negative sentiment in the broader market.

Market Update at 11:10 AM: In the current trading session, both the Sensex and Nifty are trading with marginal declines of 0.02 per cent and 0.04 per cent, respectively. In the broader market, Nifty Midcap displayed a rise of 0.36 per cent, while Nifty Smallcap showed a slight increase of 0.11 per cent.

Market volatility saw a mild uptick, with India VIX surging by 1.81 per cent.

The sectors showing strength included Nifty Realty, Nifty Auto, and Nifty Pharma, while Nifty FMCG, Nifty Media, and Nifty IT registered  losses.

Prominent gainers during this session encompassed M&M, Apollo Hospitals, and Indusind Bank, whereas Tech Mahindra, Tata Consumer Product, and Hindustan Unilever faced declines within the Nifty 50.

In the broader market, there was a slight tilt toward declining stocks, with 990 stocks advancing compared to 1001 stocks declining.

Market Update at 9:30 AM: On Thursday, the benchmark indices saw a lower opening as the Sensex and Nifty started the day with marginal declines of 0.09 per cent and 0.11 per cent, respectively. In contrast, Nifty Midcap displayed a moderate rise of 0.26 per cent, while Nifty Smallcap opened higher by 0.41 per cent.

Market volatility showed a slight uptick, with India VIX surging by 0.32 per cent.

Among the sectors, Nifty Realty, Nifty Auto, and Nifty Metal were among the top gainers, while Nifty FMCG, Nifty Media, and Nifty IT witnessed early losses.

Prominent stock movements included M&M, BPCL, and Coal India as the top gainers, whereas Tata Consumer, Tech Mahindra, and SBI Life faced declines within the Nifty 50.

The broader market sentiment remained positive, with 1149 stocks advancing in comparison to 704 stocks declining.

Pre-Market Update at 7:55 AM:  In the US markets, S&P 500 futures experienced a slight decline on Wednesday night, extending a trading session during which the broad-market index extended its lengthiest winning streak since November 2021.

These moves occurred after a relatively calm yet significant day on Wall Street. The S&P 500 concluded the day with a modest 0.1 per cent gain, marking its longest winning streak since 2021, stretching over eight days. Meanwhile, the technology-focused Nasdaq Composite made a marginal 0.08 per cent gain, achieving its ninth consecutive winning session for the lengthiest stretch of positive performance in two years. In contrast, the Dow concluded the day with a marginal 0.1 per cent loss, breaking a seven-day streak of gains.

The GIFT Nifty points toward a slightly positive opening for the benchmark indices, with an increase of 27.5 points. GIFT Nifty futures were positioned at 19,509 points after reaching a high of 19,517 points.

Oil prices continued to face downward pressure on Wednesday, extending their decline to the lowest level in over three months. This decline was driven by concerns over weakening demand in both the United States and China. Brent crude futures experienced a decrease of 54 cents, reaching USD 81.07 per barrel. Meanwhile, the Dollar index registered a 0.06 per cent increase in futures, reaching 105.61, and the value of one dollar remained around Rs 83.24.

On November 08, 2023, foreign institutional investors (FII) offloaded shares worth Rs 84.55 crore, while domestic institutional investors (DII) purchased shares worth Rs 524.47 crore.

Stock that is banned for trading in the F&O segment on November 09, 2023, is DELTACORP and GNFC.