Market Wrap: Benchmark indices close on a higher note while Broader indices outperformed!

On Friday, Frontline indices concluded the day on a positive note as Sensex closed moderately higher by 0.7 per cent concluding at 71,683.23 level, while Nifty soared by 0.67 per cent and closed at 21,606.35 level.

Market Update at 3:45 PM: On Friday, Frontline indices concluded the day on a positive note as Sensex closed moderately higher by 0.7 per cent concluding at 71,683.23 level, while Nifty soared by 0.67 per cent and closed at 21,606.35 level. Similarly Broader indices closed lower with Nifty Midcap substantially surging by 1.15 per cent, while Nifty Smallcap soared by 0.96 per cent.

Market volatility, as indicated by India VIX, has plunged by 1.37 per cent, reflecting a moderate reduction in market volatility.

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

ONGC, Bharti Airtel and NTPC were among the top gainers while Indusind Bank, HDFC Bank and Kotak Bank were among the top losing stocks from the Nifty 50.

About 1538 stocks were advancing as against to 667 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a higher note with the Sensex moderately surging by 0.58 per cent, whereas Nifty also soared by 0.6 per cent. Similarly, Nifty Midcap has substantial surged 1.03 per cent, while Nifty Smallcap trades significantly higher by 0.94 per cent.

India VIX is currently trading marginally lower by 0.20 per cent, indicating a slight decline in market volatility.

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

Bharti Airtel, ONGC and NTPC are among the top gainers while Indusind Bank, Kotak Bank and HDFC Bank are among the top losing stocks from the Nifty 50.

About 1507 stocks are advancing as against to 701 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:30 PM: In the current trading session benchmark indices trade moderately higher with the Sensex surging by 0.63 per cent, while Nifty also soared by 0.61 per cent. Similarly, this trend continued, in the broader indices as Nifty Midcap also surged by 0.82 per cent, while Nifty Smallcap soared by 0.93 per cent.

India VIX is currently trading marginally lower by 0.21 per cent, indicating a decline in market volatility.

European stocks may open on a positive note on Friday despite an uptick in the U.S. Treasury Yields. European futures DAX, CAC and FTSE trades higher by 0.28 per cent, 0.34 per cent and 0.29 per cent each.

Nifty Metal, Nifty Financial Services and Nifty Auto are among the top gainers, while Nifty Media is the only major sector which is underperforming.

Bharti Airtel, NTPC and Tata Steel are among the top gainers while Indusind Bank, Dr Reddy’s Laboratories and HCL Technologies are among the top losing stocks from the Nifty 50.

About 1562 stocks are advancing as against to 630 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, benchmark indices are showing strength, with Sensex advancing by 0.58 per cent and Nifty also making moderate gains of 0.58 per cent. The Nifty Midcap has seen a substantial surge of 0.86 per cent, while Nifty Smallcap has also experienced a rise of 0.28 per cent.

India VIX is marginally down by 0.55 per cent, suggesting a slight reduction in market volatility.

Noteworthy gainers include Nifty Metal, Nifty Financial Services, and Nifty PSU Bank, while no major sectors are currently underperforming.

Top gainers in individual stocks are Bharti Airtel, Axis Bank, and ONGC, whereas Indusind Bank, Reliance, and Cipla are among the leading losers in the Nifty 50.

The broader market sentiment remains positive, with 1680 stocks advancing compared to 490 declining.

Market Update at 9:50 AM: On Friday, Indian markets initiated the trading day on a higher note with the Sensex opening substantially higher by 0.83 per cent, while Nifty also opened significantly higher by 0.81 per cent. Similarly Nifty Midcap opened higher by 0.67 per cent, whereas Nifty Smallcap opened substantially higher 1.26 per cent.

India VIX has marginally declined by 1.14 per cent, indicating a slight decrease in market volatility.

Nifty Financial Services, Nifty IT and Nifty Bank were among the top gainers while Nifty Pharma is the only major sector which is currently underperforming.

Titan, ONGC and Axis Bank are among the top gainers while Indusind Bank, Reliance and Apollo Hospitals are among the top losing stocks from the Nifty 50.

About 1838 stocks are advancing as against to 255 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:55 AM: Thursday witnessed a substantial upswing in US stocks, with the S&P 500 nearing record levels, propelled by AI optimism that fuelled advancements in Nvidia and other chipmakers.

The S&P 500 surged by 0.88 per cent, concluding the session at 4,780.94 points, a mere 0.3 per cent shy of its record-high close in January 2022. The Nasdaq experienced a 1.35 per cent increase, reaching 15,055.65 points, and the Dow Jones Industrial Average ascended by 0.54 per cent to 37,468.61 points.

Indications from the GIFT Nifty suggest a neutral beginning for the benchmark indices in India, with a marginal gain of 7 points. Nifty futures are currently trading near the 21,535 level.

Oil prices closed higher on Thursday following optimistic global oil demand forecasts from both the International Energy Agency (IEA) and OPEC. Disruptions in US crude output due to cold winter weather, coupled with a substantial weekly draw in crude inventories, further contributed to the upward trend.

Additionally, concerns about geopolitical tensions in the Middle East intensified as Pakistan conducted strikes inside Iran. Brent crude futures rose by USD 1.22 (1.6 per cent) to USD 79.10 per barrel, and US West Texas Intermediate crude futures increased by USD 1.52 (2 per cent) to USD 74.08.

On January 18, 2024, foreign institutional investors (FII) offloaded shares worth Rs 9,901.56 crore, while domestic institutional investors (DII) bought shares worth Rs 5,977.12 crore.

Stocks that are banned for trading in the F&O segment on January 19, 2024, are ABFRL, ASHOKLEY, BALRAMCHIN, BANDHANBNK, DELTACORP, HINDCOPPER, IEX, METROPOLIS, NATIONALUM, POLYCAB, PVRINOX, SAI and ZEEL.