Market Wrap: Benchmark indices close lower while broader indices underperformed!

On Tuesday, Benchmark indices concluded the trading day on a negative note as Sensex significantly plunged by 1.08 per cent closing at 72,012.05 level, while Nifty also plummeted by 1.08 per cent and closed at 21,817.45 level.

Market Update at 3:50 PM: On Tuesday, Benchmark indices concluded the trading day on a negative note as Sensex significantly plunged by 1.08 per cent closing at 72,012.05 level, while Nifty also plummeted by 1.08 per cent and closed at 21,817.45 level. Similarly, the Broader market experienced significant losses as Nifty Midcap closed lower by 1.24 per cent, while Nifty Smallcap plunged by 1.19 per cent.

Market volatility, as indicated by India VIX, has surged by 1.57 per cent, reflecting a slight increase in market volatility.

All the major sectors underperformed with Nifty IT, Nifty Media, Nifty Pharma and Nifty FMCG were among the top losers.

Bajaj Finance, Bajaj Auto and Kotak Bank were among the top gainers while BPCL, TCS and Cipla were among the top losing stocks from the Nifty 50.

About 521 stocks were advancing as against to 1754 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:30 PM: In the current trading session benchmark indices trade on a lower note with the Sensex trading substantially lower by 0.97 per cent, while Nifty trades lower by 1.04 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 1.13 per cent, while Nifty Smallcap has declined by 0.77 per cent.

India VIX is currently trading higher by 2.30 per cent, indicating an increase in market volatility.

Currently all the major sectors are trading negatively with Nifty IT, Nifty FMCG and Nifty Media are among the top losers.

Bajaj Finance, Bajaj Auto and Hindalco are among the top gainers while TCS, BPCL and Britannia are among the top losing stocks from the Nifty 50.

About 564 stocks are advancing as against 1698 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade lower with the Sensex substantially declining by 0.87 per cent, while Nifty also plunged by 0.92 per cent. Similarly, in the broader markets Nifty Midcap has plunged by 1.11 per cent, while Nifty Smallcap has plummeted by 0.86 per cent.

India VIX is currently trading higher by 1.21 per cent, indicating an increase in market volatility.

European markets are heading for a negative open on Tuesday as global investors look ahead to the start of the U.S. Federal Reserve’s two-day policy meeting. European futures DAX, CAC and FTSE trades higher by 0.15 per cent, 0.14 per cent and 0.30 per cent respectively.

Currently all the major sectors are trading negatively with Nifty IT, Nifty FMCG and Nifty Media are among the top losers.

Bajaj Finance, Bajaj Auto and Kotak Bank are among the top gainers while Nestle India, Tata Consumer Product and BPCL are among the top losing stocks from the Nifty 50.

About 577 stocks are advancing as against to 1679 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, benchmark indices are trading on a lower note, with Sensex trading substantially lower by 0.8 per cent while Nifty also trades lower by 0.86 per cent. Similarly, in the broader indices Nifty Midcap experiences significant decline of 1.16 per cent, while Nifty Smallcap plummets by 0.78 per cent.

India VIX is trading higher by 2.76 per cent, indicating an increase in market volatility.

Currently no major sector is trading positively while Nifty IT, Nifty FMCG and Nifty Energy are among the top losers.

Top gainers in individual stocks are Bajaj Finance, Bharti Airtel and Bajaj Auto, whereas BPCL, Nestle India and TCS are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 566 stocks advancing compared to 1675 stocks declining.

Market Update at 9:35 AM: On Tuesday, Indian markets initiated the trading day on a positive note with Sensex opening moderately lower by 0.51 per cent, while Nifty also opened lower by 0.51 per cent. Whereas in the broader indices Nifty Midcap opened marginally lower by 0.16 per cent, while Nifty Smallcap opened higher by 0.2 per cent.

India VIX has surged by 2.84 per cent, indicating an increase in market volatility.

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

Adani Enterprises, Tata Steel and Hindalco are among the top gainers while TCS, Nestle India and Cipla are among the top losing stocks from the Nifty 50.

About 1177 stocks are advancing as against to 964 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: On Monday, Wall Street's primary indices concluded on a positive note, buoyed by mega cap growth stocks like Alphabet and Tesla, which contributed to a recovery in the technology-focused Nasdaq. Investors also remained on edge as they awaited the U.S. Federal Reserve's upcoming meeting.

The Dow Jones Industrial Average climbed by 75.66 points, or 0.20 per cent, closing at 38,790.43. Similarly, the S&P 500 advanced by 32.33 points, or 0.63 per cent, ending at 5,149.42, while the Nasdaq Composite saw a gain of 130.27 points, or 0.82 per cent, reaching 16,103.45.

The GIFT Nifty trends suggest a subdued beginning for the benchmark indices, with a decline of 77.50 points or 0.35 per cent. Nifty futures were trading near the level of 22,059.

On Monday, oil prices surged by approximately 1 per cent, reaching a four-month peak, driven by reduced crude exports from Iraq and Saudi Arabia. Additionally, indications of heightened demand and economic expansion in both China and the United States contributed to the upward trend in prices.

On March 18, 2024, foreign institutional investors (FII) sold shares worth Rs 2,051.09 crore, while domestic institutional investors (DII) bought shares worth Rs 2,260.88 crore.

Stocks that are banned for trading in the F&O segment on March 19, 2024, are ABFRL, BALRAMCHIN, BHEL, BIOCON, HINDCOPPER, MANAPPURAM, NATIONALUM, PEL, RBLBANK, SAIL, TATACHEM and ZEEL.