Market Wrap: Benchmark indices close on a higher note while Nifty Pharma outperforms!

On Monday, Benchmark indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.39 per cent concluding at 72,708.16 level, while Nifty also surged by 0.37 per cent and closed at 22,122.25 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.39 per cent concluding at 72,708.16 level, while Nifty also surged by 0.37 per cent and closed at 22,122.25 level. Similarly, the Broader market also experienced moderate gains as Nifty Midcap closed higher by 0.36 per cent, while Nifty Smallcap soared by 0.4 per cent.

Market volatility, as indicated by India VIX, has surged by 5.22 per cent, reflecting an increase in market volatility.

Nifty Pharma, Nifty FMCG, Nifty Media and Nifty Financial Services were among the top gainers while Nifty Realty, Nifty PSU Bank and Nifty IT were among the top losers.

Grasim, Bajaj Finserv and Bajaj Auto were among the top gainers while Coal India, L&T and SBI Life were among the top losing stocks from the Nifty 50.

About 1425 stocks were advancing as against to 828 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 surging by 0.51 per cent, while Nifty gained by 0.54 per cent. Whereas, in the broader indices Nifty Midcap surged by 0.64 per cent, while Nifty Smallcap soared by 0.58 per cent.

India VIX is currently trading higher by 5.6 per cent, indicating an increase in market volatility.

Nifty FMCG, Nifty Energy and Nifty Pharma are among the top gainers, while Nifty IT and Nifty Realty are the only major sectors which are underperforming.

BPCL, SBI and Coal India are among the top gainers while Hindalco, UPL and ITC are among the top losing stocks from the Nifty 50.

About 1571 stocks are advancing as against to 588 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 higher note with the Sensex surging by 0.42 per cent, while Nifty gained by 0.48 per cent. Whereas, in the broader indices Nifty Midcap surged by 0.74 per cent, while Nifty Smallcap surged by 0.66 per cent.

India VIX is currently trading marginally higher by 5.63 per cent, indicating a slight increase in market volatility.

European markets are set to open on a higher note as European futures DAX, FTSE and CAC trade higher by 0.09 per cent, 0.2 per cent and 0.2 per cent respectively.

Nifty Pharma, Nifty Energy and Nifty FMCG are among the top gainers, while Nifty Realty is the only major sector which is underperforming.

Grasim, Bajaj Auto and Bajaj Finserv are among the top gainers while SBI Life, L&T and HDFC Life are among the top losing stocks from the Nifty 50.

About 1602 stocks are advancing as against to 650 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:11 AM: In the ongoing trading session, benchmark indices are trading on a positive note, with Sensex trading higher by 0.27 while Nifty is showing a gain of 0.34 per cent. Similarly, in the broader indices Nifty Midcap experience a moderate gain of 0.67 per cent, while Nifty Smallcap has surged by 0.53 per cent.

India VIX is trading marginally higher by 4.35 per cent, indicating a slight increase in market volatility.

Noteworthy gainers include Nifty FMCG, Nifty Pharma and Nifty Media, while Nifty Realty and Nifty IT are the only major sectors which are currently underperforming.

Top gainers in individual stocks are Grasim, Bajaj Auto and ITC, whereas L&T, TCS and HDFC Life are among the leading losers in the Nifty 50.

The broader market sentiment has turned positive, with 1554 stocks advancing compared to 674 declining.

Market Update at 9:30 AM: On Monday, Indian markets initiated the trading week on a positive note with the Sensex opening marginally higher by 0.08 per cent, while Nifty also opened higher by 0.15 per cent. Similarly, Nifty Midcap opened higher by 0.52 per cent, while Nifty Smallcap opened substantially higher by 0.7 per cent.

India VIX has marginally surged by 5.07 per cent, indicating a slight decrease in market volatility.

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

Bajaj Auto, Adani Enterprises and Dr Reddy’s Laboratories are among the top gainers while Wipro, TCS and LTIMindtree are among the top losing stocks from the Nifty 50.

About 1502 stocks are advancing as against to 620 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM: US stocks experienced a decline on Friday, primarily led by the Nasdaq, following the release of a producer prices report that surpassed expectations, dampening hopes for imminent interest rate cuts by the Federal Reserve.

According to a report from the Labor Department, producer prices saw a higher-than-anticipated increase in January, sparking concerns that inflation might be accelerating after a period of moderation. This decline marked the end of five consecutive weeks of gains, resulting in all three indexes posting weekly declines.

The S&P 500 concluded with a loss of 24.18 points, or 0.49 per cent, closing at 5,005.15 points. The Nasdaq Composite experienced a decline of 132.38 points, or 0.83 per cent, ending at 15,775.65, while the Dow Jones Industrial Average fell by 149.48 points, or 0.39 per cent, reaching 38,623.64.

The movement of the GIFT Nifty suggests a favourable beginning for the benchmark indices, with an increase of 52.50 points or 0.24 per cent. Nifty futures were observed trading near the 22,165 level.

On Friday, oil prices closed higher, driven by geopolitical tensions in the Middle East, which outweighed concerns about slowing demand as projected by the International Energy Agency.

Brent crude futures concluded with a gain of 61 cents, or 0.74 per cent, settling at USD 83.47 per barrel. Meanwhile, US West Texas Intermediate crude settled USD 1.16 higher, or 1.49 per cent, at USD 79.19, with the nearby March contract expiring on Tuesday. The April contract also saw an increase, rising by 87 cents to USD 78.46.

Throughout the week, Brent experienced a gain of over 1 per cent, while the US benchmark saw an increase of about 3 per cent.

On February 16, 2024, foreign institutional investors (FII) bought shares worth Rs 253.28 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,571 crore.

Stocks that are banned for trading in the F&O segment on February 19, 2024, are ABFRL, ASHOKLEY, BALRAMCHIN, BANDHANBNK, CANBK, DELTACORP, HINDCOPPER, INDIACEM, INDUSTOWER, NATIONALUM, SAIL and ZEEL.