Market Wrap: Benchmark indices close on a lower note while Nifty IT surged over 1 per cent!

On Tuesday, Benchmark indices concluded the trading day a negative note as Sensex declined by 0.04 per cent and closed at 79,441.46 level, while Nifty also slightly declined by 0.07 per cent and closed at 24,123.85 level.

Market Update at 3:45 PM: On Tuesday, Benchmark indices concluded the trading day a negative note as Sensex declined by 0.04 per cent and closed at 79,441.46 level, while Nifty also slightly declined by 0.07 per cent and closed at 24,123.85 level. Similarly, the Broader market also experienced losses as Nifty Midcap closed lower by 0.78 per cent, while Nifty Smallcap plummeted by 0.45 per cent.

Market volatility, as indicated by India VIX, has declined by 1.37 per cent and is trading around the level of 13 reflecting a slight decrease in market volatility.

Within the sectoral landscape, Nifty IT, Nifty Media and Nifty Realty were among the top gainers, while Nifty PSU Bank, Nifty FMCG and Nifty Bank were among the top losers.

L&T, Wipro and Infosys were among the top gainers while on the other hand Shriram Finance, Bharti Airtel and Kotak Bank were among the top losers.

About 1110 stocks were advancing as against to 1179 that were declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a negative note with the Sensex trading lower by 0.07 per cent, while Nifty declined by 0.11 per cent. Similarly, in the broader indices Nifty Midcap has plummeted by 0.83 per cent, while Nifty Smallcap has plunged by 0.39 per cent.

India VIX has slightly gained by 0.92 per cent and is trading around the level of 13 indicating a slight decrease in market volatility.

Within the sectoral landscape, Nifty IT, Nifty Media and Nifty Realty are among the top gainers while Nifty PSU Bank, Nifty FMCG and Nifty Bank are among the major sectors which are underperforming.

L&T, Wipro and Infosys are among the top gainers while Shriram Finance, Kotak Bank and Tata Motors are among the top losing stocks from the Nifty 50.

About 1111 stocks are advancing as against 1182 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices have declined with Sensex trading lower by 0.18 per cent while Nifty also plunged by 0.21 per cent. Similarly, in the broader indices Nifty Midcap has plummeted by 0.97 per cent, while Nifty Smallcap has declined by 0.64 per cent.

India VIX is has marginally gained by 1.34 per cent and is trading around the mark of 14 indicating a slight increase in market volatility.

European stocks are expected to open in mixed territory on Tuesday, with market participants looking ahead to the release of the Euro Zone’s latest inflation data. European futures DAX, CAC and FTSE trade lower by 0.54 per cent, 60 per cent and 0.55 per cent respectively.

Within the sectoral landscape Nifty IT, Nifty Realty and Nifty Media are among the top gainers while Nifty PSU Bank, Nifty Bank and Nifty Auto are among the top losers.

Wipro, Infosys and L&T are among the top gainers within the Nifty 50 while, Kotak Bank, Shriram Finance and Tata Motors are among the top losers.

About 1004 stocks are advancing as against to 1290 stocks that are declining, thus indicating a negative 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 higher by 0.07 per cent, while Nifty gained by 0.08 per cent. Whereas in the broader indices Nifty Midcap experience losses of 0.1 per cent, while Nifty Smallcap has surged by 0.14 per cent.

India VIX is has declined by 1.19 per cent and is trading round the mark of 13, indicating a slight decrease in market volatility.

Within the sectoral landscape, Nifty Realty, Nifty Media, Nifty IT are among the top gainers while Nifty Bank, Nifty Financial Services and Nifty FMCG are among the top losers.

Top gainers in individual stocks are Infosys, Wipro and Coal India whereas, Shriram Finance, Kotak Bank and Bajaj Finance are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1400 stocks advancing compared to 864 stocks declining.

Market Update at 9:45 AM: On Tuesday, Indian markets opened on a negative note, with Nifty and Sensex experiencing marginal losses while Broader indices also displayed resilience making new record highs. Nifty IT emerged as the top gainer, while Nifty Auto experienced the largest losses.

The Sensex is trading down by 0.07 per cent and the Nifty has also declined by 0.08 per cent. Whereas, in the broader, the Nifty Midcap declined by 0.17 per cent after making a new record high at 56,504.50 level and the Nifty Smallcap gained by 0.11 per cent and reached its all-time high mark of 18,579.95 level.

India VIX has slightly gained by 0.98 per cent and is trading above the mark of 13, indicating marginal increase in market volatility.

Within the sectoral landscape Nifty Media, Nifty Realty and Nifty Energy were among the top gainers while Nifty Auto, Nifty Financial Services and Nifty Bank were among the top losers.

ONGC, Coal India and Power Grid are among the top gainers within the Nifty 50 while Tata Motors, Bajaj Finance and Kotak Bank are among the top losers.

About 1350 stocks are advancing as against to 859 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:25 AM: U.S. mega cap growth stocks, led by Apple and Tesla, drove the tech-heavy Nasdaq to a higher close on Monday, while the Dow and the S&P 500 also posted modest gains in light pre-holiday trading.

The Dow Jones Industrial Average climbed 50.66 points (0.13 per cent) to end at 39,169.52, the S&P 500 increased by 14.61 points (0.27 per cent) to 5,475.09, and the Nasdaq Composite rose 146.70 points (0.83 per cent) to 17,879.30.

The US 10-year yield fell by 22 basis points to 4.44 per cent, and the 2-year Treasury yield decreased by 9 basis points to 4.75 per cent in early Tuesday trading.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a slight decline of 0.06 per cent or 15 points. Nifty futures are currently trading near the 24,212 mark.

On July 01, 2024, foreign institutional investors (FII) sold shares worth Rs 426.03 crore, while domestic institutional investors (DII) bought shares worth Rs 3,917.43 crore.

Stocks that are banned for trading in the F&O segment on July 02, 2024, are INDIACEM and INDUSTOWER.

Oil prices stabilized in early Asian trade on Tuesday, maintaining gains from recent sessions as traders anticipated increased demand during the Independence Day holiday and potential supply risks.

Brent futures for September rose 0.2 per cent to USD 86.78 a barrel, while WTI crude climbed 0.2 per cent to USD 82.48 a barrel.

Stocks that are banned for trading in the F&O segment on July 02, 2024, are INDIACEM and INDUSTOWER.