Market Wrap: Benchmark indices close on a lower note with Nifty PSU Bank among the top losers!

On Monday, Frontline indices concluded the trading day on a lower note as Sensex closed moderately lower by 0.73 per cent concluding at 71,072.49 level, while Nifty also plummeted by 0.76 per cent and closed at 21,616.05 level.

Market Update at 3:40 PM: On Monday, Frontline indices concluded the trading day on a lower note as Sensex closed moderately lower by 0.73 per cent concluding at 71,072.49 level, while Nifty also plummeted by 0.76 per cent and closed at 21,616.05 level. Similarly, the Broader market also experienced a major decline as Nifty Midcap closed substantially lower by 2.48 per cent, while Nifty Smallcap plummeted by 4.01 per cent.

Market volatility, as indicated by India VIX, has surged by 3.98 per cent, reflecting an increase in market volatility.

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

Dr Reddy’s Laboratories, Apollo Hospitals and Divi’s Laboratories were among the top gainers while Coal India, Hero Motocorp and BPCL were among the top losing stocks from the Nifty 50.

About 367 stocks were advancing as against to 1908 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 on a higher note with the Sensex plunging by 0.5 per cent, while Nifty plummeted by 0.5 per cent. Whereas, in the broader indices Nifty Midcap plunged by 1.56 per cent, while Nifty Smallcap plummeted by 2.89 per cent.

India VIX is currently trading higher by 4.76 per cent, indicating an increase in market volatility.

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

Dr Reddy’s Laboratories, Wipro and Divi’s Laboratories are among the top gainers while Hero Motocorp, Coal India and BPCL are among the top losing stocks from the Nifty 50.

About 450 stocks are advancing as against to 1828 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 moderately declining by 0.48 per cent, while Nifty plunged by 0.53 per cent. Whereas, in the broader indices Nifty Midcap substantially plummeted by 1.7 per cent, while Nifty Smallcap declined by 2.97 per cent.

India VIX is currently trading higher by 3.72 per cent, indicating an increase in market volatility.

European stocks are seen opening higher on Monday following a record setting week for the S&P 500. European futures, DAX and CAC trades higher by 0.06 and 0.31 per cent respectively, while FTSE trades marginally lower by 0.06 per cent.

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

Wipro, HCL Technologies and Divi’s Laboratories are among the top gainers while Hero Motocorp, Coal India and BPCL are among the top losing stocks from the Nifty 50.

About 430 stocks are advancing as against to 1830 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, benchmark indices are trading on a negative note, with Sensex trading lower by 0.28 and Nifty is showing a decline of 0.32 per cent. Similarly, in the broader indices Nifty Midcap experience major decline of 1.49 per cent, while Nifty Smallcap plummeted by 2.45 per cent.

India VIX is trading marginally higher by 3.35 per cent, indicating a slight increase in market volatility.

Noteworthy gainers include Nifty IT and Nifty Pharma, while Nifty PSU Bank, Nifty Media and Nifty Energy are among the top losers.

Top gainers in individual stocks are Wipro, Apollo Hospitals and Divi’s Laboratories, whereas Hero Motocorp, BPCL and Coal India are among the leading losers in the Nifty 50.

The broader market sentiment has turned negative, with 440 stocks advancing compared to 1813 declining.

Market Update at 9:35 AM: On Monday, Indian markets initiated the trading day on a positive note with the Sensex opening marginally higher by 0.04 per cent, while Nifty also opened higher by 0.05 per cent. Similarly, Nifty Midcap opened moderately higher by 0.17 per cent, while Nifty Smallcap opened lower by 0.18 per cent.

India VIX has surged by 4.52 per cent, indicating an increase in market volatility.

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

Divi’s Laboratories, Wipro and HCL Technologies are among the top gainers while Hero Motocorp, Coal India and ONGC are among the top losing stocks from the Nifty 50.

About 1186 stocks are advancing as against to 932 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: On Friday, the S&P 500 reached a historic milestone by closing above 5,000 for the first time, while the Nasdaq briefly surpassed 16,000. This surge was fuelled by the performance of Large-Cap companies and chip stocks, notably Nvidia, as investors showed confidence in artificial intelligence technology and anticipated strong earnings data.

The Dow Jones Industrial Average experienced a slight decline of 54.64 points, equivalent to 0.14 per cent, settling at 38,671.69. Conversely, the S&P 500 saw an increase of 28.70 points, or 0.57 per cent, reaching 5,026.61, and the Nasdaq Composite surged by 196.95 points, representing a gain of 1.25 per cent, to close at 15,990.66.

The current trends in the GIFT Nifty suggest a robust opening for the benchmark indices, with an increase of 108 points or 0.49 per cent. Nifty futures are hovering around the 21,958 mark.

Crude oil prices saw a decline following the previous week's rise, as Iran's foreign minister hinted at a potential diplomatic resolution to the Israel-Hamas conflict. Brent crude dropped by 0.37 per cent to USD 81.89 per barrel, after experiencing a 6.3 per cent increase last week. Similarly, West Texas Intermediate traded 0.43 per cent lower at USD 76.51 per barrel.

On February 09, 2024, foreign institutional investors (FII) bought shares worth Rs 141.95 crore, while domestic institutional investors (DII) offloaded shares worth Rs 421.87 crore.

Stocks that are banned for trading in the F&O segment on February 12, 2024, are ASHOKLEY, AUROPHARMA, BALRAMCHIN, BIOCON, DELTACORP, HINDCOPPER, INDIACEM, INDUSTOWER, PNB, SAIL, UPL and ZEEL.