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

On Thursday, Frontline indices concluded the day on a negative note as Sensex closed moderately lower by 0.44 per cent concluding at 71,186.86 level, while Nifty plunged by 0.51 per cent and closed at 21,462.25 level.

Market Update at 3:45 PM: On Thursday, Frontline indices concluded the day on a negative note as Sensex closed moderately lower by 0.44 per cent concluding at 71,186.86 level, while Nifty plunged by 0.51 per cent and closed at 21,462.25 level. Similarly Broader indices closed lower with Nifty Midcap marginally declining by 0.11 per cent, while Nifty Smallcap plummeted by 0.18 per cent.

Market volatility, as indicated by India VIX, has plunged by 6.70 per cent, reflecting a moderate reduction in market volatility.

Nifty Pharma, Nifty PSU Bank, Nifty Realty and Nifty Auto were among the top gainers while Nifty Financial Services, Nifty Metal, Nifty Energy and Nifty Bank were among the top losers.

Sun Pharma, Cipla and Tech Mahindra were among the top gainers while LTIMindtree, HDFC Bank and NTPC were among the top losing stocks from the Nifty 50.

About 952 stocks were advancing as against to 1273 stocks that were declining, thus indicating an pessimistic sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a lower note with the Sensex moderately declining by 0.56 per cent, whereas Nifty also plummeted by 0.62 per cent. Similarly, Nifty Midcap has plunged by 0.51 per cent, while Nifty Smallcap trades marginally lower by 0.21 per cent.

India VIX is currently trading lower by 1.79 per cent, indicating a slight decline in market volatility.

Nifty Pharma, Nifty PSU Bank and Nifty Realty are among the top gainers, while Nifty Financial Services, Nifty Metal and Nifty Bank are among the top losers.

Sun Pharma, Tech Mahindra and Cipla are among the top gainers while LTIMindtree, HDFC Bank and NTPC are among the top losing stocks from the Nifty 50.

About 901 stocks are advancing as against to 1308 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:50 PM: In the current trading session benchmark indices trade moderately lower with the Sensex plunging by 0.33 per cent, while Nifty also plummeted by 0.41 per cent. Similarly, this trend continued, in the broader indices as Nifty Midcap also declined by 0.5 per cent, while Nifty Smallcap plunged by 0.29 per cent.

India VIX is currently trading marginally lower by 2.42 per cent, indicating a decline in market volatility.

European markets are heading for a mixed open on Thursday as investors continue to monitor news and comments from the World Economic Forum. European futures DAX, trades higher by 0.10 per cent while CAC and FTSE trades marginally lower by 0.1 per cent each.

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

Sun Pharma, Axis Bank and Tech Mahindra are among the top gainers while LTIMindtree, NTPC and HDFC Bank are among the top losing stocks from the Nifty 50.

About 852 stocks are advancing as against to 1355 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:10 AM: In the current trading session benchmark indices trade on a lower note as Sensex trades lower by 0.41 per cent while, Nifty also trades moderately lower by 0.48 per cent. Similarly, Nifty Midcap has moderately plunged by 0.74 per cent, while Nifty Smallcap has also plummeted by 0.28 per cent.

India VIX is currently trading marginally lower by 1.06 per cent, indicating a slight decrease in market volatility.

Nifty PSU Bank is the only major sector, which is trading positively, while Nifty Media, Nifty Metal and Nifty Energy are among the top losers.

Tech Mahindra, Axis Bank and Sun Pharma are among the top gainers while, LTIMindtree, Asian Paints and NTPC are among the top losing stocks from the Nifty 50.

About 748 stocks are advancing as against to 1441 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 9:30 AM: On Thursday, Indian markets initiated the trading day on a lower note with the Sensex opening moderately lower by 0.61 per cent, while Nifty also opened moderately lower by 0.65 per cent. Similarly Nifty Midcap opened lower by 0.63 per cent, whereas Nifty Smallcap opened on a positive by 0.02 per cent.

India VIX has marginally surged by 0.66 per cent, indicating a slight increase in market volatility.

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

Tata Motors, Adani Ports and Axis Bank are among the top gainers while LTIMindtree, Power Grid and Asian Paints are among the top losing stocks from the Nifty 50.

About 1139 stocks are advancing as against to 885 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: Wednesday night saw little change in U.S. stock futures following the Dow Jones Industrial Average's third consecutive day of losses. Dow futures experienced a minor decrease of 3 basis points, equivalent to 0.01 per cent. Simultaneously, S&P 500 futures and Nasdaq 100 futures declined by 0.04 per cent and 0.09 per cent, respectively.

The previous session on Wall Street concluded with major averages in the red, driven by a rise in Treasury yields. On Wednesday, the Dow dropped 94.45 points, or 0.25 per cent, while the S&P 500 and Nasdaq Composite recorded losses of 0.56 per cent and 0.59 per cent, respectively.

The GIFT Nifty suggests a slightly bearish start for the benchmark indices, showing a decrease of 151 points. GIFT Nifty futures reached 21,428 points, having reached a peak of 21,701 points.

On Wednesday, oil experienced a decline of more than USD 1, influenced by China, the second-largest crude user, reporting economic growth slightly below expectations. This development raised apprehensions about future demand, aggravated by the strength of the U.S. dollar, which dampened investors' risk appetite.

Brent crude futures witnessed a drop of USD 1.23, equivalent to 1.57 per cent, settling at USD 77.06 per barrel. Similarly, U.S. West Texas Intermediate crude futures (WTI) declined by 92 cents, or 1.27 per cent, reaching USD 71.48.

Despite ongoing naval and air conflicts in the Red Sea, oil failed to find support. Concerns about tankers needing to pause or reroute, leading to increased shipping costs and delayed deliveries, did not have the expected impact.

The fourth-quarter expansion of China's economy, reported at 5.2 per cent year-on-year, fell short of analysts' expectations. This outcome raised doubts about forecasts anticipating Chinese demand to drive global oil growth in 2024.

The Dollar index showed a 0.06 per cent decrease in futures, settling at 102.22, while the value of a single dollar remained close to Rs 83.09.

On January 17, 2024, foreign institutional investors (FII) offloaded shares worth Rs 10,578.13 crore, while domestic institutional investors (DII) bought shares worth Rs 4,006.44 crore.

Stocks that are banned for trading in the F&O segment on January 18, 2024, are ABFRL, ASHOKLEY, BANDHANBNK, CHAMBLFERT, DELTACORP, HINDCOPPER, IEX, METROPOLIS, NATIONALUM, POLYCAB, PVRINOX, SAIL and ZEEL.