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

On Wednesday, Benchmark indices concluded the trading day on a lower note as Sensex closed substantially lower by 1.08 per cent concluding at 72,304.89 level, while Nifty also plummeted by 1.11 per cent and closed at 21,951.15 level.

Market Update at 3:45 PM: On Wednesday, Benchmark indices concluded the trading day on a lower note as Sensex closed substantially lower by 1.08 per cent concluding at 72,304.89 level, while Nifty also plummeted by 1.11 per cent and closed at 21,951.15 level. Similarly, the Broader market also experienced significant losses as Nifty Midcap closed lower by 1.94 per cent, while Nifty Smallcap plunged by 1.87 per cent.

Market volatility, as indicated by India VIX, has marginally surged by 3.83 per cent, reflecting an increase in market volatility.

All the major sectors underperformed on Wednesday with Nifty Media, Nifty Energy, Nifty PSU Bank and Nifty Realty among the top losers.

Hindustan Unilever, Infosys and TCS were among the top gainers while Power Grid, Apollo Hospitals and Eicher Motors were among the top losing stocks from the Nifty 50.

About 306 stocks were advancing as against to 1962 stocks that were declining, thus indicating a negative 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 trading substantially lower by 0.66 per cent, while Nifty also trades lower by 0.73 per cent. Similarly, in the broader indices Nifty Midcap plunged by 1.42 per cent, while Nifty Smallcap plummeted by 1.33 per cent.

India VIX is currently trading higher by 2.7 per cent, indicating an increase in market volatility.

All the major sectors are underperforming with Nifty Media, Nifty Realty, Nifty PSU Bank and Nifty Energy among the top losers.

SBI Life, HDFC Life and Hindustan Unilever are among the top gainers while Apollo Hospitals, Bajaj Auto and Power Grid are among the top losing stocks from the Nifty 50.

About 373 stocks are advancing as against to 885 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 lower note with the Sensex plunging by 0.64 per cent, while Nifty also plummeted by 0.71 per cent. Similarly in the broader indices Nifty Midcap has plummeted by 1.31 per cent, while Nifty Smallcap has significantly declined by 1.5 per cent.

India VIX is currently trading higher by 3.2 per cent, indicating an increase in market volatility.

European markets are heading for a higher open on Wednesday, rallying after a shaky start to the trading week. European futures DAX trades lower by 0.11 per cent while CAC and FTSE trades higher by 0.04 per cent and 0.04 per cent respectively.

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

TCS, Infosys and SBI Life are among the top gainers while Apollo Hospitals, Bajaj Auto and Power Grid are among the top losing stocks from the Nifty 50.

About 364 stocks are advancing as against to 1891 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 lower note, with Sensex trading moderately lower by 0.64 per cent while Nifty also trades lower by 0.66 per cent. Similarly, in the broader indices Nifty Midcap experiences a substantial decline of 1.01 per cent, while Nifty Smallcap plummets by 1.17 per cent.

India VIX is trading higher by 2.42 per cent, indicating an increase in market volatility.

Nifty IT is the only major sector which is trading positively while Nifty Media, Nifty Realty and Nifty Energy are among the top gainers.

Top gainers in individual stocks are TCS, HDFC Life and Infosys, whereas Bajaj Auto, Apollo Hospitals and Maruti are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 413 stocks advancing compared to 1819 declining.

Market Update at 9:40 AM: On Wednesday, Indian markets initiated the trading day on a positive note with Sensex opening marginally higher by 0.01 per cent, while Nifty also opened higher by 0.02 per cent. Whereas in the broader indices Nifty Midcap opened marginally lower by 0.04 per cent, while Nifty Smallcap opened moderately higher by 0.25 per cent.

India VIX has marginally surged by 0.57 per cent, indicating a marginal increase in market volatility.

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

Tata Consumer Product, Tata Motors and Bharti Airtel are among the top gainers while Apollo Hospitals, Asian Paints and M&M are among the top losing stocks from the Nifty 50.

About 1206 stocks are advancing as against to 885 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:20 AM: On Tuesday, US stocks closed almost unchanged as investors awaited key economic data that might influence the Federal Reserve's interest rate decision.

The Dow Jones Industrial Average dropped by 96.82 points, or 0.25 per cent, ending at 38,972.41. Meanwhile, the S&P 500 saw a modest gain of 8.65 points, or 0.17 per cent, closing at 5,078.18, and the Nasdaq Composite climbed 59.05 points, or 0.37 per cent, to 16,035.30.

The GIFT Nifty trends suggest a positive beginning for the benchmark indices, with an increase of 43.50 points or 0.20 per cent. Nifty futures were observed trading around the 22,236.50 level.

On Tuesday, oil prices climbed amid concerns regarding a potential ceasefire in Gaza and anticipation that the OPEC+ producer group might prolong voluntary supply reductions into March.

Brent crude futures increased by 50 cents, or 0.61 per cent, reaching USD 83.03 per barrel, while US West Texas Intermediate crude futures (WTI) saw a gain of 60 cents, or 0.77 per cent, reaching USD 78.18.

On February 27, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,509.16 crore, while domestic institutional investors (DII) bought shares worth Rs 2,861.56 crore.

Stocks that are banned for trading in the F&O segment on February 28, 2024, are ABFRL, CANBK, INDUSTOWER, SAIL and ZEEL.