Market Wrap: Benchmark indices close on a negative note with Nifty Auto among the top losers!

On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex declined by 0.53 per cent and closed below the 80,000 mark, while Nifty plunged by 0.45 per cent and closed below the 24,400 level.

Market Update at 3:45 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex declined by 0.53 per cent and closed below the 80,000 mark, while Nifty plunged by 0.45 per cent and closed below the 24,400 level. Similarly, the Broader market experienced losses as Nifty Midcap closed lower by 0.27 per cent, while Nifty Smallcap plummeted by 0.88 per cent.

Market volatility, as indicated by India VIX, has gained by 1.07 per cent and is trading above the level of 14 reflecting an increase in market volatility.

Within the sectoral landscape, Nifty Pharma, Nifty FMCG and Nifty Energy were among the top gainers, while Nifty Auto, Nifty Media and Nifty Metal are the major sectors which underperformed.

Asian Paints, SBI Life and Divi’s Laboratories were among the top gainers while on the other hand M&M, Tata Steel and Hindalco Industries were among the top losers.

About 670 stocks were advancing as against to 1629 that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade on a negative note with the Sensex trading lower by 0.88 per cent, while Nifty plunged by 0.83 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 0.95 per cent, while Nifty Smallcap has plummeted by 1.35 per cent.

India VIX has gained by 4.27 per cent and is trading above the level of 14 indicating an increase in market volatility.

Within the sectoral landscape, Nifty FMCG is the only major sector which is trading positively while Nifty Auto, Nifty Metal and Nifty Media are the major sectors which are underperforming.

Asian Paints, Britannia and SBI Life are among the top gainers while M&M, Hindalco and Tata Steel are among the top losing stocks from the Nifty 50.

About 515 stocks are advancing as against 1780 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 have declined with Sensex trading lower by 0.7 per cent while Nifty also plunged by 0.62 per cent. Similarly, in the broader indices Nifty Midcap has plummeted by 0.75 per cent, while Nifty Smallcap has declined by 1.03 per cent.

India VIX is has gained by 3.48 per cent and is trading above the mark of 14 indicating an increase in market volatility.

European stocks are expected to open higher on Wednesday as European futures DAX, CAC and FTSE trade higher by 0.35 per cent, 0.06 per cent and 0.38 per cent respectively.

Within the sectoral landscape all the major sectors are underperforming with Nifty Auto, Nifty Metal and Nifty Media among the top losers.

HDFC Life, Divi’s Laboratories and Power Grid Corporation are among the top gainers within the Nifty 50 while, M&M, Hindalco and TCS are among the top losers.

About 516 stocks are advancing as against to 1786 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex trading significantly lower by 0.91 per cent, while Nifty plunged by 0.9 per cent. Similarly in the broader indices Nifty Midcap experience substantial losses of 1.3 per cent, while Nifty Smallcap has plummeted by 1.5 per cent.

India VIX is has gained by 3.69 per cent and is trading above the mark of 14, indicating an increase in market volatility.

Within the sectoral landscape, all the major sectors are trading negatively with Nifty Auto, Nifty Media and Nifty Metal among the top losers.

Top gainers in individual stocks are Apollo Hospitals, Britannia and Divi’s Laboratories whereas, M&M, HCL Technologies and Shriram Finance are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 372 stocks advancing compared to 1918 stocks declining.

Market Update at 9:30 AM: On Wednesday, Indian markets opened on a negative note while, the Broader indices displayed negative performance. Nifty Realty emerged as the top gainer, while Nifty Bank experienced the largest losses.

The Sensex is trading down by 0.12 per cent below the 80,300 mark while the Nifty has also declined by 0.1 per cent and is trading below the 24,500 level. Whereas, in the broader, the Nifty Midcap gained by 0.02 per cent trading above the 57,000 level while the Nifty Smallcap plunged by 0.07 per cent and is trading below the 19,000 mark!

India VIX has slightly gained by 0.68 per cent and is trading above the mark of 14, indicating increase in market volatility.

Within the sectoral landscape Nifty Realty, Nifty FMCG and Nifty Pharma were among the top gainers while Nifty Bank, Nifty PSU Bank and Nifty Metal were major sectors which underperformed!

Maruti, Eicher Motors and Grasim Industries are among the top gainers within the Nifty 50 while M&M, JSW Steel and Axis Bank are among the top losers.

About 1165 stocks are advancing as against to 998 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:20 AM: The S&P 500 and Nasdaq closed at record highs on Tuesday, driven by gains in Nvidia after U.S. Federal Reserve Chair Jerome Powell indicated that positive economic data could bolster the case for rate cuts.

The S&P 500 edged up 0.07 per cent to close at 5,576.98 points. The Nasdaq rose 0.14 per cent to 18,429.29 points, while the Dow Jones Industrial Average dropped 0.13 per cent to 39,291.97 points.

The US 10-year yield increased by 9 basis points to 4.29, and the 2-year Treasury yield was up 9 basis points at 4.63 in early Wednesday trading.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a slight gain of 0.09 per cent or 21 points. Nifty futures are currently trading near the 24,379.15 mark.

Oil prices rebounded on Wednesday after three consecutive days of declines, buoyed by an industry report showing a drop in U.S. crude and fuel stockpiles, suggesting steady demand and a more favourable outlook for interest rate cuts.

Brent futures increased by 21 cents to USD 84.87 a barrel, following a 1.3 per cent decline in the previous session. U.S. West Texas Intermediate (WTI) crude rose 26 cents to USD 81.67 a barrel, after a 1.1 per cent drop in the prior session.

On July 09, 2024, foreign institutional investors (FII) bought shares worth Rs 314.46 crore, while domestic institutional investors (DII) bought shares worth Rs 1,416.46 crore.

Stocks that are banned for trading in the F&O segment on July 10, 2024, are ABFRL, BALRAMCHIN, BANDHANBNK, CHAMBLFERT, GNFC, IEX, INDIACEM, INDUSTOWER and PEL.