Market Wrap: Benchmark indices close on a lower note while Broader indices significantly underperformed!

On Wednesday, Benchmark indices concluded the trading day on a positive note as Sensex closed moderately lower by 0.59 per cent concluding at 72,623.10 level, while Nifty also plunged by 0.64 per cent and closed at 22,055.05 level.

Market Update at 3:35 PM: On Wednesday, Benchmark indices concluded the trading day on a positive note as Sensex closed moderately lower by 0.59 per cent concluding at 72,623.10 level, while Nifty also plunged by 0.64 per cent and closed at 22,055.05 level. Similarly, the Broader market experienced substantial losses as Nifty Midcap closed lower by 1.25 per cent, while Nifty Smallcap plummeted by 1.04 per cent.

Market volatility, as indicated by India VIX, has marginally declined by 0.78 per cent, reflecting a slight decrease in market volatility.

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

Tata Steel, SBI and Indusind Bank were among the top gainers while BPCL, Coal India and NTPC were among the top losing stocks from the Nifty 50.

About 650 stocks were advancing as against to 1612 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a negative note with the Sensex plunging by 0.37 per cent, while Nifty also declined by 0.38 per cent. Whereas, in the broader indices Nifty Midcap plummeted by 0.84 per cent, while Nifty Smallcap declined by 0.63 per cent.

India VIX is currently trading marginally lower by 0.26 per cent, indicating a slight decrease in market volatility.

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

Tata Steel, JSW Steel and SBI are among the top gainers while BPCL, Hero Motocorp and Coal India are among the top losing stocks from the Nifty 50.

About 806 stocks are advancing as against to 1445 stocks that are declining, thus indicating a negative 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 0.13 per cent, while Nifty gained by 0.14 per cent. Whereas, in the broader indices Nifty Midcap has plunged by 0.22 per cent, while Nifty Smallcap gained by 0.05 per cent.

India VIX is currently trading marginally lower by 1.12 per cent, indicating a slight decrease in market volatility.

European stocks are heading for a mixed open on Wednesday as regional markets struggle to find positive momentum. European futures DAX and CAC trade higher by 0.09 per cent, 0.14 per cent while, FTSE trades lower by 0.03 per cent.

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

JSW Steel, Tata Steel and SBI are among the top gainers while Power Grid, BPCL and Hero Motocorp are among the top losing stocks from the Nifty 50.

About 1160 stocks are advancing as against to 1086 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, benchmark indices are trading on a positive note, with Sensex trading marginally higher by 0.09 while Nifty is also showing a marginal gain of 0.07 per cent. Whereas, in the broader indices Nifty Midcap experience a decline of 0.19 per cent, while Nifty Smallcap has marginally declined by 0.02 per cent.

India VIX is trading marginally higher by 0.68 per cent, indicating a slight increase in market volatility.

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

Top gainers in individual stocks are JSW Steel, Tata Steel and Hindalco, whereas Power Grid, BPCL and Infosys are among the leading losers in the Nifty 50.

The broader market sentiment has turned negative, with 1082 stocks advancing compared to 1127 declining.

Market Update at 9:35 AM: On Wednesday, Indian markets initiated the trading day on a positive note with Sensex opening higher by 0.16 per cent, while Nifty also opens higher by 0.14 per cent. Similarly, in the broader indices Nifty Midcap opened moderatelt higher by 0.25  per cent, while Nifty Smallcap opened higher by 0.42 per cent.

India VIX has marginally surged by 0.47 per cent, indicating a slight increase in market volatility.

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

Hindalco, Tata Steel and M&M are among the top gainers while Hero Motocorp, Power Grid and Infosys are among the top losing stocks from the Nifty 50.

About 1402 stocks are advancing as against to 682 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:55 AM: On Tuesday, US stocks closed lower, with the Nasdaq experiencing significant declines due to chipmaker Nvidia's stumble before its highly anticipated earnings report. However, gains in Walmart helped limit losses on the Dow Industrials.

The S&P 500 concluded with a loss of 30.06 points, or 0.60 per cent, closing at 4,975.51 points, while the Nasdaq Composite saw a decline of 144.87 points, or 0.92 per cent, ending at 15,630.78. The Dow Jones Industrial Average fell by 64.19 points, or 0.17 per cent, closing at 38,56.80.

The GIFT Nifty shows a subdued beginning for the benchmark indices, with a marginal decline of 15 points or 0.07 per cent. Nifty futures hover around the 22,249.50 mark.

In early Asian trade on Wednesday, oil prices saw a modest rebound as investors assessed worries about production cuts from major producers and security concerns regarding shipping in the Red Sea, against reduced expectations of US interest rate cuts.

Brent crude futures climbed 12 cents, or 0.15 per cent, reaching USD 82.46 a barrel, while US West Texas Intermediate crude futures (WTI) rose 9 cents, or 0.12 per cent, reaching USD 77.13.

Both the Brent and WTI contracts experienced declines of 1.5 per cent and 1.4 per cent respectively on Tuesday.

On February 20, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,335.51 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,491.33 crore.

Stocks that are banned for trading in the F&O segment on February 21, 2024, are BALRAMCHIN, BANDHANBNK, BIOCON, CANBK, GMRINFRA, GNFC, HINDCOPPER, INDIACEM, INDUSTOWER, NATIONALUM, RBLBANK, SAIL and ZEEL.