Market Wrap: Benchmark indices close on a mixed note while Broader indices outperformed!

On Wednesday, Frontline indices concluded the trading day on a mixed note as Sensex closed marginally lower by 0.05 per cent concluding at 72,152 level, while Nifty marginally surged by 0.01 per cent and closed at 21,930.50 level.

Market Update at 3:40 PM: On Wednesday, Frontline indices concluded the trading day on a mixed note as Sensex closed marginally lower by 0.05 per cent concluding at 72,152 level, while Nifty marginally surged by 0.01 per cent and closed at 21,930.50 level. Similarly, the Broader market experienced positive performance as Nifty Midcap closed substantially higher by 0.75 per cent, while Nifty Smallcap soared by 0.71 per cent.

Market volatility, as indicated by India VIX, has declined by 1.74 per cent, reflecting a slight decrease in market volatility.

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

SBI, Grasim and JSW Steel were among the top gainers while Tech Mahindra, Power Grid and Infosys were among the top losing stocks from the Nifty 50.

About 1294 stocks were advancing as against to 943 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:25 PM: In the current trading session benchmark indices trade on a higher note with the Sensex surging by 0.16 per cent, while Nifty soared by 0.21 per cent. Similarly, in the broader indices Nifty Midcap substantially surged by 0.61 per cent, while Nifty Smallcap moderately gained by 0.67 per cent.

India VIX is currently trading marginally lower by 0.35 per cent, indicating a slight decrease in market volatility.

Nifty PSU Bank, Nifty Realty and Nifty Media are among the top gainers, while Nifty IT is the only major sector which is underperforming.

SBI, JSW Steel and HDFC Life are among the top gainers while Infosys, Power Grid and Tech Mahindra are among the top losing stocks from the Nifty 50.

About 1384 stocks are advancing as against to 859 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices trade on a lower note with the Sensex marginally declining by 0.16 per cent, while Nifty plunged by 0.1 per cent. Whereas, in the broader indices Nifty Midcap surged by 0.32 per cent, while Nifty Smallcap soared by 0.54 per cent.

India VIX is currently trading marginally higher by 0.49 per cent, indicating a slight increase in market volatility.

European markets are heading for a mixed open on Wednesday amid ongoing uncertainty over the rate cut outlook. European futures, DAX, CAC and FTSE trades marginally lower by 0.01 per cent, 0.01 per cent and 0.02 per cent respectively.

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

SBI, Britannia and HDFC Life are among the top gainers while Infosys, Power Grid and TCS are among the top losing stocks from the Nifty 50.

About 1291 stocks are advancing as against to 940 stocks that are declining, thus indicating a positive 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 marginally higher by 0.03 and Nifty is also showing a marginal gain of 0.06 per cent. Similarly in the broader indices Nifty Midcap experiences moderate gain of 0.26 per cent, while Nifty Smallcap substantially surged by 0.54 per cent.

India VIX is trading marginally higher by 0.13 per cent, indicating a slight increase in market volatility.

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

Top gainers in individual stocks are SBI, HDFC Life and Axis Bank, whereas Infosys, Power Grid and ONGC are among the leading losers in the Nifty 50.

The broader market sentiment remains slightly positive, with 1387 stocks advancing compared to 821 declining.

Market Update at 9:35 AM: On Wednesday, Indian markets initiated the trading day on a positive note with the Sensex opening marginally higher by 0.24 per cent, while Nifty also opened marginally higher by 0.29 per cent. Similarly, Nifty Midcap opened moderately higher by 0.33 per cent, whereas Nifty Smallcap opened substantially higher by 1.18 per cent.

India VIX has marginally surged by 0.98 per cent, indicating a marginal increase in market volatility.

Nifty PSU Bank, Nifty Realty and Nifty Media are among the top gainers while Nifty IT is the only major sector which is underperforming.

SBI, Coal India and Axis Bank are among the top gainers while HCL Technologies, Infosys and BPCL are among the top losing stocks from the Nifty 50.

About 1691 stocks are advancing as against to 419 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: On Tuesday, the S&P 500 edged slightly higher as investors analysed a diverse range of earnings reports from major U.S. companies and processed remarks from Federal Reserve policymakers to gauge indications of its anticipated initial interest-rate adjustment.

The Dow Jones Industrial Average increased by 141.24 points, equivalent to 0.37 per cent, closing at 38,521.36. Meanwhile, the S&P 500 advanced by 11.42 points, or 0.23 per cent, settling at 4,954.23. Similarly, the Nasdaq Composite saw a gain of 11.32 points, or 0.07 per cent, concluding the session at 15,609.00.

The GIFT Nifty trends suggest a neutral beginning for the benchmark indices, with an increase of 8 points. Nifty futures were observed trading near the 22,120 level.

Initially, Brent and US crude futures surged by over USD 1 per barrel on Tuesday following the US Energy Department's announcement of a slower-than-expected growth in crude oil production. However, they relinquished some of these gains amid discussions regarding a potential prolonged ceasefire in the Gaza War.

By the close of trading, Brent crude futures stood at USD 78.59 a barrel, marking an increase of 60 cents, or 0.77 per cent. Similarly, US West Texas Intermediate crude futures climbed by 53 cents, or 0.73 per cent, settling at USD 73.51.

The dollar index, gauging the US currency against six other major currencies, experienced a decline of 0.24 per cent, dropping to 104.19, following its peak of 104.60 on Monday, the highest level seen since November 14th.

On February 06, 2024, foreign institutional investors (FII) bought shares worth Rs 92.52 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,096.26 crore.

Stocks that are banned for trading in the F&O segment on February 07, 2024, are ASHOKLEY, HINDCOPPER, INDIACEM, INDUSTOWER, NATIONALUM, UPL and ZEEL.