Market Wrap: Benchmark indices close on a lower note while broader indices outperform!

On the last trading session of 2023 on Friday, Benchmark indices concluded the day on a lower note. Sensex closed moderately lower by 0.23 per cent concluding at 72,240.26 level, while Nifty also closed lower by 0.22 per cent concluding at 21,731.40.

Market Update at 3:35 PM: On the last trading session of 2023 on Friday, Benchmark indices concluded the day on a lower note. Sensex closed moderately lower by 0.23 per cent concluding at 72,240.26 level, while Nifty also closed lower by 0.22 per cent concluding at 21,731.40. Whereas Broader indices closed on a higher note with Nifty Midcap surging by 0.8 per cent, while Nifty Smallcap surged by 0.61 per cent.

Market volatility, as indicated by India VIX, has plunged by 4.82 per cent, reflecting a decrease in market volatility.

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

Tata Consumer Product, Tata Motors and Bajaj Auto were among the top gainers while BPCL, SBI and ONGC were among the top losing stocks from the Nifty 50.

About 1072 stocks were advancing as against to 975 stocks that were declining, thus indicating a slight pessimistic sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade lower with the Sensex plunging by 0.29 per cent, while Nifty plummeted by 0.27 per cent. Whereas, Nifty Midcap has surged by 0.44 per cent, while Nifty Smallcap is also experiencing a moderate gain of 0.37 per cent.

India VIX is currently trading marginally lower by 4.21 per cent, indicating a slight decrease in market volatility.

Nifty Auto, Nifty FMCG and Nifty Media are among the top gainers while Nifty PSU Bank, Nifty Energy and Nifty Bank are among the top underperformers.

Tata Consumer Product, Tata Motors and Tata Steel are among the top gainers while BPCL, ONGC and SBI are among the top losing stocks from the Nifty 50.

About 1058 stocks are advancing as against to 996 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade lower with the Sensex plunging by 0.24 per cent, while Nifty declined by 0.25 per cent. Whereas, Nifty Midcap has surged by 0.39 per cent, while Nifty Smallcap is also experiencing a moderate gain of 0.32 per cent.

India VIX is currently trading lower by 2.08 per cent, indicating a slight decrease in market volatility.

European stocks are likely to open higher on Friday as European futures DAX and CAC trade higher by 0.11 per cent and 0.10 per cent respectively, while FTSE trades marginally lower by 0.02 per cent.

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

Tata Motors, Tata Consumer and Adani Enterprises are among the top gainers while BPCL, SBI and ONGC are among the top losing stocks from the Nifty 50.

About 1030 stocks are advancing as against to 1002 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 11:15 AM: In the current trading session benchmark indices trade moderately lower with the Sensex trading lower by 0.26 per cent, while Nifty also trades lower by 0.25 per cent. Whereas, Nifty Midcap has marginally surged by 0.36 per cent, while Nifty Smallcap has soared by 0.12 per cent.

India VIX is currently trading marginally lower by 0.48 per cent, indicating a slight decrease in market volatility.

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

Tata Motors, Tata Consumer and Adani Enterprises are among the top gainers while BPCL, SBI and ONGC are among the top losing stocks from the Nifty 50.

About 1039 stocks are advancing as against to 977 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 9:25 AM: On Friday, Indian markets initiated the last trading session of 2023 on a lower note with the Sensex opening moderately lower by 0.31 per cent, while Nifty also opened moderately lower by 0.3 per cent. Similarly, Nifty Midcap opened marginally higher by 0.05 per cent, while Nifty Smallcap also opened marginally lower by 0.02 per cent.

India VIX has marginally surged by 0.84 per cent, indicating a slight increase in market volatility.

Nifty Auto and Nifty FMCG are among the top gaining sectors while Nifty Energy, Nifty IT and Nifty Metal are among the underperforming sectors.

Tata Consumer Product, Tata Motors and Maruti are among the top gainers while BPCL, Kotak Bank and Apollo Hospitals are among the top losing stocks from the Nifty 50.

About 1031 stocks are advancing as against to 860 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: On Thursday evening, U.S. stock futures remained largely unchanged as Wall Street aimed to conclude a successful year on a positive note, potentially reaching a new milestone. S&P 500 futures inched up less than 0.1 per cent, while Dow Jones Industrial Average futures saw a modest increase of 17 points, also less than 0.1 per cent. Nasdaq-100 futures recorded marginal gains.

With the S&P 500 approaching a new record high, the index is less than 0.5 per cent away, marking a strong finish to a year that has witnessed a robust rally, resulting in a 24.6 per cent increase for the S&P 500, a 13.8 per cent rise for the Dow, and a notable 44.2 per cent surge for the Nasdaq Composite, the highest since 2003.

The GIFT Nifty suggests a slightly positive opening for the benchmark indices, reflecting a gain of 7 points. GIFT Nifty futures reached 21,958 points, having reached a peak at the same level.

On Thursday, oil prices dipped around 1 per cent, alleviating concerns over shipping disruptions along the Red Sea route, despite ongoing tensions in the Middle East.

The front month February Brent crude futures declined by 90 cents, approximately 1.1 per cent, reaching USD 78.75 a barrel, with the more active March contract down 69 cents, around 0.9 per cent, at USD 78.85 a barrel. Meanwhile, US WTI crude futures traded 80 cents, roughly 1.1 per cent, lower at USD 73.31 a barrel. The retreat followed a nearly 2 per cent drop on Wednesday as major shipping firms resumed operations in the Red Sea.

The Dollar index saw a 0.06 per cent increase in futures, reaching 101.32, while the value of a single dollar remained close to Rs 83.09.

On December 28, 2023, foreign institutional investors (FII) bought shares worth Rs 4,358.99 crore, while domestic institutional investors (DII) purchased shares worth Rs 136.64 crore.

Stock that is banned for trading in the F&O segment on December 29, 2023, is HINDCOPPER.