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

On Thursday, Benchmark indices concluded the trading day on a higher note as Sensex closed moderately higher by 0.27 per cent concluding at 72,500.30 level, while Nifty also surged by 0.14 per cent and closed at 21,982.80 level.

Market Update at 3:40 PM: On Thursday, Benchmark indices concluded the trading day on a higher note as Sensex closed moderately higher by 0.27 per cent concluding at 72,500.30 level, while Nifty also surged by 0.14 per cent and closed at 21,982.80 level. Similarly, the Broader market also experienced moderate gains as Nifty Midcap closed higher by 0.51 per cent, while Nifty Smallcap soared by 0.64 per cent.

Market volatility, as indicated by India VIX, has declined by 4.64 per cent, reflecting decrease in market volatility.

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

Adani Enterprises, Tata Consumer Product and Indusind Bank were among the top gainers while Apollo Hospitals, Bajaj Auto and LTIMindtree were among the top losing stocks from the Nifty 50.

About 1197 stocks were advancing as against to 1058 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading marginally higher by 0.12 per cent, while Nifty also trades higher by 0.06 per cent. Similarly, in the broader indices Nifty Midcap plunged by 0.2 per cent, while Nifty Smallcap plummeted by 0.3 per cent.

India VIX is currently trading lower by 3.55 per cent, indicating a decrease in market volatility.

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

M&M, Tata Consumer Product and Adani Enterprises are among the top gainers while Apollo Hospitals, Bajaj Auto and LTIMindtree are among the top losing stocks from the Nifty 50.

About 941 stocks are advancing as against to 1309 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 on a lower note with the Sensex marginally declining by 0.01 per cent, while Nifty also plunged by 0.06 per cent. Similarly in the broader indices Nifty Midcap has plunged by 0.15 per cent, while Nifty Smallcap has moderately declined by 0.48 per cent.

India VIX is currently trading lower by 1.65 per cent, indicating a decrease in market volatility.

European Markets are heading for a higher open on Thursday as investors look ahead to key inflation reports in both the U.S. and Europe. European futures DAX, CAC and FTSE trades higher by 0.15 per cent, 0.02 per cent and 0.13 per cent respectively.

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

BPCL, ONGC and Adani Ports are among the top gainers while UPL, Hindalco and HDFC Bank are among the top losing stocks from the Nifty 50.

About 879 stocks are advancing as against to 1360 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 11:11 AM: In the ongoing trading session, benchmark indices are trading on a mixed note, with Sensex trading marginally higher by 0.02 per cent while Nifty trades lower by 0.11 per cent. Whereas, in the broader indices Nifty Midcap experiences a moderate decline of 0.65 per cent, while Nifty Smallcap plummets by 1.14 per cent.

India VIX is trading marginally lower by 0.6 per cent, indicating a slight decrease in market volatility.

Nifty Auto and Nifty Metal are the only major sectors which is trading marginally higher while all the other major sectors are trading lower with Nifty Media, Nifty Realty and Nifty Pharma among the top losers.

Top gainers in individual stocks are BPCL, M&M and SBI, whereas Hindalco, UPL and Kotak Bank are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 568 stocks advancing compared to 1660 declining.

Market Update at 9:30 AM: On Thursday, Indian markets initiated the trading day on a positive note with Sensex opening marginally higher by 0.13 per cent, while Nifty also opened higher by 0.04 per cent. Whereas in the broader indices Nifty Midcap opened moderately lower by 0.35 per cent, while Nifty Smallcap also opened moderately lower by 0.46 per cent.

India VIX has marginally declined by 1.04 per cent, indicating a marginal decrease in market volatility.

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

Reliance, Hero Motocorp and Maruti are among the top gainers while Cipla, UPL and BPCL are among the top losing stocks from the Nifty 50.

About 688 stocks are advancing as against to 1372 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 7:50 AM: US stocks concluded with minor declines on Wednesday, with anticipation building around a significant inflation report that might impact forecasts regarding a Federal Reserve interest rate adjustment.

The Dow Jones Industrial Average dropped 23.39 points, or 0.06 per cent, settling at 38,949.02, while the S&P 500 dipped 8.42 points, or 0.17 per cent, closing at 5,069.76. Similarly, the Nasdaq Composite declined 87.56 points, or 0.55 per cent, ending the session at 15,947.74.

The movement in the GIFT Nifty suggests a favourable opening for the benchmark indices, with an increase of 83.50 points or 0.38 per cent. Nifty futures were observed trading near the 21,968 level.

US crude oil futures closed with losses on Wednesday following the Federal Reserve's decision to maintain interest rates, coupled with an increase in US crude stockpiles.

Brent crude futures edged 3 cents higher, or 0.04 per cent, reaching USD 83.68 a barrel, while US West Texas Intermediate futures (WTI) settled 33 cents lower, or down 0.42 per cent, at USD 78.54. Both benchmarks had previously dropped USD 1 during trading.

On February 28, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,879.23 crore, while domestic institutional investors (DII) bought shares worth Rs 1,827.45 crore.

Stocks that are banned for trading in the F&O segment on February 29, 2024, are INDUSTOWER and SAIL.