Market Wrap: Benchmark indices close lower with Nifty FMCG among the top gainers!

Market Wrap: Benchmark indices close lower with Nifty FMCG among the top gainers!

Siddharth Mane
/ Categories: Trending, Mkt Commentary

In the closing bell, both the Sensex and Nifty recorded marginal declines of 0.12 per cent and 0.05 per cent, respectively.

Market Update at 3:45 PM: In the closing bell, both the Sensex and Nifty recorded marginal declines of 0.12 per cent and 0.05 per cent, respectively. Simultaneously, Nifty Midcap closed lower by 0.17 per cent, while Nifty Smallcap demonstrated strength, concluding with a gain of 0.57 per cent.

The India VIX surged by 2.57 per cent, highlighting an increase in market volatility.

Among the sectoral indices, Nifty FMCG, Nifty Auto, and Nifty Metal stood out as top gainers, while Nifty IT, Nifty Media, and Nifty PSU Bank faced losses.

Within the Nifty 50 index, notable gainers included Eicher Motors, Hero Moto Corp, and Nestle India. Conversely, IndusInd Bank, Cipla, and Tech Mahindra registered as the leading decliners.

Looking at market sentiment from a broader perspective, around 951 stocks advanced, while 1049 stocks declined, indicating a relatively neutral sentiment in the broader market as the trading session concluded.

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Market Update at 2:10 PM: In the current market scenario, both the Sensex and Nifty are treading cautiously, maintaining a relatively flat trajectory. Meanwhile, Nifty Midcap has registered a marginal uptick of 0.04 per cent, and Nifty Smallcap is displaying more robust gains, up by 0.51 per cent.

The India VIX has risen by 1.83 per cent, suggesting an increase in market volatility.

Among sectoral indices, Nifty FMCG, Nifty Auto, and Nifty Metal are leading the gains, while Nifty PSU Bank, Nifty Media, and Nifty IT are witnessing declines.

Within the Nifty 50 index, prominent gainers include Eicher Motors, Bajaj Auto, and Nestle India. In contrast, IndusInd Bank, Tech Mahindra, and Kotak Bank are among the leading decliners.

A broader view of market sentiment reveals approximately 1016 stocks advancing, surpassing the 978 stocks experiencing declines, signaling an overall positive sentiment across the broader market landscape.

 

Market Update at 12:40 PM: In the current market scenario, the Sensex and Nifty are displaying mixed trading patterns. Meanwhile, Nifty Midcap is forging ahead with a marginal gain of 0.04 per cent, and Nifty Smallcap is moderately higher by 0.4 per cent.

Looking beyond India, European markets are poised for a lower opening, extending the negative momentum seen in the region. European futures, including DAX, FTSE, and CAC, are trading lower by 0.20 per cent, 0.44 per cent, and 0.55 per cent, respectively.

Furthermore, the India VIX has recorded a 2.57 per cent increase, indicating a rise in market volatility.

Among sectoral indices, Nifty Metal, Nifty Auto, and Nifty Realty are leading with gains, while Nifty Bank, Nifty Media, and Nifty IT are among the top losers.

Within the Nifty 50 index, notable gainers include Eicher Motors, Bajaj Auto, and Tata Steel, while Indusind Bank, Tech Mahindra, and Kotak Bank are positioned as the top decliners.

A broader perspective on market sentiment reveals that approximately 1057 stocks are advancing, surpassing the 940 stocks that are experiencing declines, underscoring a positive sentiment across the broader market landscape.

 

Market Update at 11:11 AM: The current market landscape sees the Sensex and Nifty exhibiting mixed trading patterns. In contrast, Nifty Midcap is making notable gains, rising by 0.19 per cent, while Nifty Smallcap is showing a moderate increase of 0.59 per cent.

Additionally, the India VIX has recorded a 0.83 per cent uptick, reflecting increased market volatility.

Among sectoral indices, Nifty Metal, Nifty Auto, and Nifty Energy are among the top performers, experiencing gains, while Nifty Bank, Nifty Media, and Nifty IT are witnessing declines.

Examining individual stocks within the Nifty 50, notable gainers include Eicher Motors, Tata Steel, and NTPC. Conversely, Asian Paints, Bajaj Finserv, and Kotak Bank are among the leading decliners.

Taking a broader view of market sentiment, approximately 1180 stocks are advancing, outpacing the 780 stocks in decline, indicating a slight positive sentiment prevailing in the broader market as trading unfolds.

 

Market Update at 9:35 AM: In the current market scenario, both the Sensex and Nifty have started the day with minimal changes, opening on a flat note. Notably, Nifty Midcap and Nifty Smallcap have begun the session on a positive note, showing gains of 0.3 per cent and 0.69 per cent, respectively.

Meanwhile, market volatility, as indicated by the India VIX, has surged by 3.12 per cent.

Among sectoral indices, Nifty Metal, Nifty Media, and Nifty PSU Bank are among the top performers, while Nifty IT, Nifty Bank, and Nifty Financial Services are experiencing early losses.

Individual stocks seeing strong gains within the Nifty 50 include Eicher Motors, L&T, and Tata Steel, whereas Apollo Hospitals, TCS, and Asian Paints are among the leading decliners.

Taking a broader view of market sentiment, approximately 1207 stocks are advancing, surpassing the 629 stocks that are in decline. This suggests a prevailing positive sentiment in the broader market as the trading session commences.

 

Pre-Market Update at 7:45 AM: On Monday, during regular trading hours, US stock markets experienced significant volatility, ultimately closing the day with modest gains. The S&P 500 saw a 0.4 per cent increase, the Nasdaq Composite advanced by 0.45 per cent, and the Dow Jones Industrial Average inched higher by 0.13 per cent. These gains marked the end of four consecutive days of losses for all three major indexes.

Additionally, the Federal Reserve's recent policy meeting indicated expectations of higher interest rates for a more extended period and fewer rate cuts in 2024 than previously anticipated, impacting investor sentiment. Investors are also closely monitoring developments in Washington, where lawmakers are working to avoid a government shutdown that could occur as early as October 1 if a spending bill is not agreed upon.

On Monday, oil prices remained stable following Russia's decision to ease its fuel export restrictions, which tempered earlier increases driven by concerns of tighter supply and apprehensions regarding potential interest rate hikes that might dampen demand. Brent crude futures showed a modest uptick of 0.18 per cent increase, reaching USD 93.44 per barrel after closing slightly lower by 3 cents on the previous Friday. Concurrently, the Dollar index gained 0.31 per cent in futures, reaching 105.91, while the value of a single dollar stayed around Rs 83.13

The GIFT Nifty suggests a slightly pessimistic beginning for the benchmark indices, reflecting a decrease of 47 points. GIFT Nifty futures reached 19,676 points, having reached a peak at 19,697 points earlier.

On September 25, foreign institutional investors (FII) offloaded shares worth Rs 2,333.03 crore, while domestic institutional investors (DII) bought shares worth Rs 1,579.28 crore.

Stocks that are banned for trading in the F&O segment on September 26, 2023, are Balrampur Chini Mills, Canara Bank, Granules, Hindustan Copper and Indiabulls Housing Finance.

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