Market Wrap: Benchmark indices close on a negative note while Nifty Midcap underperformed!

On Thursday, Frontline indices concluded the day on a negative note as Sensex closed moderately lower by 0.51 per cent concluding at 70,700.67 level, while Nifty surged by 0.84 per cent and closed at 21,352.60 level.

Market Update at 3:40 PM: On Thursday, Frontline indices concluded the day on a negative note as Sensex closed moderately lower by 0.51 per cent concluding at 70,700.67 level, while Nifty tanked by 0.84 per cent and closed at 21,352.60 level. Similarly, this trend continued in the Broader market as Nifty Mid-cap closed moderately lower by 0.77 per cent, whereas Nifty Small-cap soared by 0.43 per cent.

Market volatility, as indicated by India VIX, has declined by 3.55 per cent, reflecting a decrease in market volatility.

Nifty Energy, Nifty Realty, Nifty Media and Nifty Metal were among the top gainers while Nifty IT, Nifty Pharma, Nifty FMCG and Nifty Financial Services were among the top losers.

Bajaj Auto, Adani Ports and NTPC were among the top gainers while Tech Mahindra, Cipla and Bharti Airtel were among the top losing stocks from the Nifty 50.

About 1192 stocks were advancing as against to 1034 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 negative note with the Sensex moderately declining by 0.84 per cent, whereas Nifty also plunged by 0.82 per cent. Similarly, Nifty Midcap has plummeted by 0.82 per cent, while Nifty Smallcap trades higher by 0.2 per cent.

India VIX is currently trading marginally higher by 2.05 per cent, indicating a slight surge in market volatility.

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

Bajaj Auto, NTPC and Coal India are among the top gainers while Tech Mahindra, Cipla and SBI Life are among the top losing stocks from the Nifty 50.

About 1118 stocks are advancing as against to 1103 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices trade moderately lower with the Sensex plunging by 0.82 per cent, while Nifty also declined by 0.75 per cent. Similarly, in the broader indices as Nifty Midcap plunged by 0.75 per cent, while Nifty Smallcap marginally declined by 0.02 per cent.

India VIX is currently trading substantially higher by 3.48 per cent, indicating a slight increase in market volatility.

European markets are heading for a lower open on Thursday as Investors prepare for the latest Monetary Policy decision from the European Central Bank. European futures DAX, CAC and FTSE trades lower by 0.09 per cent, 0.12 per cent and 0.2 per cent.

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

Bajaj Auto, NTPC and Coal India are among the top gainers while Tech Mahindra, Cipla and SBI Life are among the top losing stocks from the Nifty 50.

About 1144 stocks are advancing as against to 1060 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, benchmark indices are trading on a lower note, with Sensex moderately declining by 0.84 per cent and Nifty is also making moderate losses of 0.78 per cent. Similarly, Nifty Midcap has seen a moderate decline of 0.57 per cent, while Nifty Smallcap has experienced a marginal gain of 0.05 per cent.

India VIX is trading marginally higher by 4.64 per cent, suggesting a slight increase in market volatility.

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

Top gainers in individual stocks are Bajaj Auto, NTPC, and Coal India, whereas Tech Mahindra, Adani Enterprises, and Axis Bank are among the leading losers in the Nifty 50.

The broader market sentiment remains slightly positive, with 1185 stocks advancing compared to 1017 declining.

Market Update at 9:30 AM: On Thursday, Indian markets initiated the trading day on a mixed note with the Sensex opening marginally lower by 0.3 per cent, while Nifty also opened marginally lower by 0.19 per cent. Whereas Nifty Midcap opened marginally higher by 0.06 per cent, while Nifty Smallcap also opened moderately higher 0.53 per cent.

India VIX has marginally surged by 2.49 per cent, indicating a slight increase in market volatility.

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

Coal India, NTPC and Britannia are among the top gainers while Tech Mahindra, HCL Technologies and SBI Life are among the top losing stocks from the Nifty 50.

About 1534 stocks are advancing as against to 531 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:25 AM: On Wednesday, the S&P 500 achieved its fourth consecutive record high close, driven by Netflix's impressive Quarterly Results and robust performance in chipmakers following ASML's strong report.

The S&P 500 inched up by 0.08 per cent, concluding the session at 4,868.55 points. Despite this rise, a higher ratio of declining stocks compared to rising ones was observed within the index, standing at 2.5-to-1. The Nasdaq experienced a 0.36 per cent gain, reaching 15,481.92 points, while the Dow Jones Industrial Average declined by 0.26 per cent to 37,806.39 points.

The GIFT Nifty signals a flat-to-negative opening for the benchmark indices, showing a decline of 22.50 points or 0.10 per cent. The Nifty futures are currently traded around the 21,443.00 level.

On Wednesday, oil prices surged by approximately 1 per cent, reaching a four-week high, fuelled by a more significant than anticipated withdrawal in US crude storage, a decline in US crude production, economic stimulus in China, geopolitical tensions, and a weakened US dollar.

Brent futures saw an increase of USD 1.03, equivalent to 1.3 per cent, settling at USD 80.58 per barrel by 12:03 pm EST (1703 GMT). US West Texas Intermediate (WTI) crude experienced a rise of USD 1.31, or 1.8 per cent, reaching USD 75.68.

Brent was poised for its highest settlement since December 26, and WTI was on track for its highest since November 30. US diesel and gasoline futures were also heading towards their highest closures in weeks.

On Wednesday, the US dollar declined, breaking a trend of eight gains in the last 10 sessions, as investors consolidated profits following a widespread reversal of the greenback's decline in December.

On January 24, 2024, foreign institutional investors (FII) offloaded shares worth Rs 6,934.93 crore, while domestic institutional investors (DII) bought shares worth Rs 6,012.67 crore.

Stock that is banned for trading in the F&O segment on January 25, 2024, is ZEEL.