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

On Tuesday, Benchmark indices concluded the day on a negative note as Sensex closed moderately lower by 0.53 per cent concluding at 71,892.48 level, while Nifty also closed lower by 0.36 per cent concluding at 21,663.60.

Market Update at 3:45 PM: On Tuesday, Benchmark indices concluded the day on a negative note as Sensex closed moderately lower by 0.53 per cent concluding at 71,892.48 level, while Nifty also closed lower by 0.36 per cent concluding at 21,663.60. Similarly Broader indices also closed moderately lower with Nifty Midcap plunging by 0.18 cent, while Nifty Smallcap plummeted by 0.26 per cent.

Market volatility, as indicated by India VIX, has marginally declined by 0.68 per cent, reflecting a slight decrease in market volatility.

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

Adani Ports, Divi’s Laboratories and Sun Pharma were among the top gainers while Eicher Motors, M&M and Ultratech Cement were among the top losing stocks from the Nifty 50.

About 931 stocks were advancing as against to 1124 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade lower with the Sensex plunging by 0.6 per cent, while Nifty declined by 0.42 per cent. Similarly, Nifty Midcap has plunged by 0.2 per cent, while Nifty Smallcap is also experiencing a moderate decline of 0.23 per cent.

India VIX is currently trading lower by 0.37 per cent, indicating a slight decline in market volatility.

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

Coal India, Sun Pharma and Cipla are among the top gainers while Eicher Motors, Ultratech Cement and M&M are among the top losing stocks from the Nifty 50.

About 915 stocks are advancing as against to 1130 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 lower with the Sensex plunging by 0.59 per cent, while Nifty declined by 0.45 per cent. Similarly, Nifty Midcap has declined by 0.31 per cent, while Nifty Smallcap is also experiencing a moderate decline of 0.42 per cent.

India VIX is currently trading higher by 0.12 per cent, indicating a slight increase in market volatility.

European markets are set to open higher on Tuesday as investors kick off the first trading day of the new year. European futures DAX, CAC and FTSE trade higher by 0.24 per cent, 0.21 per cent and 0.05 per cent respectively.

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

Coal India, Sun Pharma and Divi’s Laboratories are among the top gainers while Eicher Motors, Ultratech Cement and M&M are among the top losing stocks from the Nifty 50.

About 819 stocks are advancing as against to 1234 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:05 AM: In the current trading session benchmark indices trade substantially lower with the Sensex trading lower by 0.78 per cent, while Nifty also trades lower by 0.65 per cent. Similarly, Nifty Midcap has significantly declined by 0.81 per cent, while Nifty Smallcap has plunged by 0.82 per cent.

India VIX is currently trading marginally higher by 1.11 per cent, indicating a slight increase in market volatility.

Nifty Pharma is the only major sector, which is currently trading positively while, Nifty Auto, Nifty IT and Nifty Realty are among the top losers.

Divis Laboratories, Coal India and Sun Pharma are among the top gainers while, Eicher Motors, Ultratech Cement and M&M are among the top losing stocks from the Nifty 50.

About 627 stocks are advancing as against to 1417 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:30 AM: On Tuesday, Indian markets initiated the trading day on a lower note with the Sensex opening moderately lower by 0.23 per cent, while Nifty also opened moderately lower by 0.14 per cent. Whereas Nifty Midcap opened marginally higher by 0.02 per cent, while Nifty Smallcap also opened marginally higher by 0.33 per cent.

India VIX has marginally declined by 1.04 per cent, indicating a slight decrease in market volatility.

Nifty Pharma, Nifty Energy and Nifty Media are among the top gaining sectors while Nifty IT, Nifty Auto and Nifty PSU Bank are among the major underperforming sectors.

Divi’s Laboratories, Tata Consumer Product and Sun Pharma are among the top gainers while Ultratech Cement, Eicher Motors and M&M are among the top losing stocks from the Nifty 50.

About 1221 stocks are advancing as against to 713 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:50 AM: U.S. Stock futures showed minimal movement in overnight trading on Monday, setting the stage for the commencement of the new year after a remarkably strong 2023 that witnessed a 24 per cent rally in the S&P 500.

Dow Jones Industrial Average futures edged up by a modest 18 points, while S&P 500 futures and Nasdaq 100 futures hovered near the flatline. On Monday US markets were closed for New Year’s Day.

The stock market concluded 2023 on a high note, with the S&P 500 experiencing a nine-week winning streak, marking its most impressive performance since 2004. This robust rally in risk assets was fuelled by a resilient economy, subdued inflation, and signals from the Federal Reserve indicating the conclusion of rate hikes. Despite challenges, including a regional banking crisis and conflicts in Ukraine and the Middle East, the market demonstrated resilience and closed the year with a strong finish.

The GIFT Nifty suggests a slightly positive opening for the benchmark indices, showing a gain of 20 points. GIFT Nifty futures settled at 21,865 points, having reached a peak of 22,022 points.

Closing the year with a notable decline of more than 10 per cent, US crude oil succumbed to bearish sentiment, fuelled by concerns of oversupply from record production outside OPEC. The West Texas Intermediate contract for February witnessed a loss of 12 cents (0.17 per cent), settling at USD 71.65 per barrel on Friday, while the Brent contract for March dipped by 11 cents (0.14 per cent), settling at USD 77.04.

Despite enduring geopolitical risks, notably the devastating war in Gaza, both US crude and the global benchmark, Brent, registered their first annual decline since 2020. WTI concluded the year with a 10.73 per cent decrease, and Brent faced a 10.32 per cent loss.

On Tuesday, oil prices experienced a brief uptick of nearly 3 per cent amid concerns that militant attacks on shipping in the Red Sea could disrupt global trade and crude supplies. However, the prevailing focus among traders remains on the delicate balance between supply and demand in the oil market.

The Dollar index saw a 0.06 per cent increase in futures, reaching 101.06, while the value of a single dollar remained close to Rs 82.23.

On January 01, 2024, foreign institutional investors (FII) offloaded shares worth Rs 855.80 crore, while domestic institutional investors (DII) purchased shares worth Rs 410.46 crore.

Stocks that are banned for trading in the F&O segment on January 02, 2024, are BALRAMCHIN and HINDCOPPER.