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

On Monday, Benchmark indices concluded the first trading day of the week a negative note as Sensex declined by 0.05 per cent and closed below the 80,000 mark, while Nifty slightly declined by 0.01 per cent and closed at 24,320.55 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded the first trading day of the week a negative note as Sensex declined by 0.05 per cent and closed below the 80,000 mark, while Nifty slightly declined by 0.01 per cent and closed at 24,320.55 level. Similarly, the Broader market experienced losses as Nifty Midcap closed lower by 0.35 per cent, while Nifty Smallcap declined by 0.17 per cent.

Market volatility, as indicated by India VIX, has gained by 7.13 per cent and is trading above the level of 13 reflecting an increase in market volatility.

Within the sectoral landscape, Nifty FMCG, Nifty Energy and Nifty IT were among the top gainers, while Nifty PSU Bank, Nifty Metal and Nifty Pharma are the sectors which underperformed.

ONGC, ITC and HDFC Life were among the top gainers while on the other hand Divi’s Laboratories, Titan and BPCL were among the top losers.

About 878 stocks were advancing as against to 1335 that were declining, thus indicating a 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 marginally lower by 0.05 per cent, while Nifty declined by 0.1 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 0.42 per cent, while Nifty Smallcap has slightly declined by 0.04 per cent.

India VIX has gained by 7.6 per cent and is trading above the level of 13 indicating an increase in market volatility.

Within the sectoral landscape, Nifty FMCG and Nifty Energy are among the top gainers while Nifty PSU Bank, Nifty Metal and Nifty Pharma are among the major sectors which are underperforming.

ONGC, HDFC Life and ITC are among the top gainers while Divi’s Laboratories, Titan and BPCL are among the top losing stocks from the Nifty 50.

About 881 stocks are advancing as against 1371 stocks that are declining, thus indicating a positive 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 0.15 per cent while Nifty also plunged by 0.18 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 0.44 per cent, while Nifty Smallcap has declined by 0.19 per cent.

India VIX is has gained by 7.11 per cent and is trading above the mark of 13 indicating an increase in market volatility.

European stocks are expected to open higher on Monday as investors weigh hopes of the U.S. policy easing against the French political uncertainty. European futures DAX, CAC and FTSE trade lower by 0.31 per cent, 0.30 per cent and 0.51 per cent respectively.

Within the sectoral landscape Nifty FMCG and Nifty Energy are among the top gainers while Nifty PSU Bank, Nifty Metal and Nifty Realty are among the top losers.

Hindustan Unilever, ONGC and ITC are among the top gainers within the Nifty 50 while, Titan, Divi’s Laboratories and Shriram Finance are among the top losers.

About 816 stocks are advancing as against to 1404 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 0.31 per cent, while Nifty declined by 0.3 per cent. Similarly in the broader indices Nifty Midcap experience losses of 0.34 per cent, while Nifty Smallcap has plunged by 0.21 per cent.

India VIX is has declined by 7.54 per cent and is trading above the mark of 13, indicating an increase in market volatility.

Within the sectoral landscape, Nifty FMCG is the only major sector which is trading positively while Nifty PSU Bank, Nifty Metal and Nifty Media are among the top losers.

Top gainers in individual stocks are Tata Consumer Product, Hindustan Unilever and Nestle India whereas, Titan, Divi’s Laboratories and Adani Ports are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 866 stocks advancing compared to 1346 stocks declining.

Market Update at 9:40 AM: On Monday, Indian markets opened on a negative note while, the Broader indices displayed positive performance, making new highs. Nifty Auto emerged as the top gainer, while Nifty PSU Bank experienced the largest losses.

The Sensex is trading down by 0.04 per cent trading below the 80,000 mark while the Nifty has also declined by 0.03 per cent and is trading around the 24,300 level. Whereas, in the broader, the Nifty Midcap gained by 0.28 per cent after making an all-time high at 57,339.90 level while the Nifty Smallcap surged by 0.62 per cent and made a record high at 19,107.45 mark.

India VIX has slightly gained by 4.96 per cent and is trading above the mark of 13, indicating increase in market volatility.

Within the sectoral landscape Nifty Auto, Nifty FMCG and Nifty IT were among the top gainers while Nifty PSU bank, and Nifty Metal are the sectors which are underperforming.

Tata Motors, Hero Motocorp and Wipro are among the top gainers within the Nifty 50 while Titan, Divi’s Laboratories and Shriram Finance are among the top losers.

About 1021 stocks are advancing as against to 1102 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:20 AM: Wall Street closed higher on Friday, with the Nasdaq and S&P 500 hitting record highs, as weak U.S. labour market data fuelled hopes for interest rate cuts in September.

The Dow Jones gained 67.87 points (0.17 per cent) to 39,375.87, the S&P 500 rose 30.17 points (0.54 per cent) to 5,567.19, and the Nasdaq increased by 164.46 points (0.90 per cent) to 18,352.76.

The US 10-year yield climbed 60 basis points to 4.30, while the 2-year yield was up 36 basis points to 4.62 early Friday.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a slight decline of 0.06 per cent or 14 points. Nifty futures are currently trading near the 24,386 mark.

On Monday, Oil prices remained steady as investors monitored potential energy supply disruptions with major Texas ports closing ahead of Tropical Storm Beryl, which is expected to strengthen into a hurricane and make landfall.

Brent crude futures edged up 11 cents (0.1 per cent) to USD 86.65 a barrel, following a drop of 89 cents on Friday. U.S. West Texas Intermediate crude stood at USD 83.08 a barrel, down 8 cents, after a previous decline of 72 cents.

On July 05, 2024, foreign institutional investors (FII) bought shares worth Rs 1,241.33 crore, while domestic institutional investors (DII) offloaded shares worth Rs 1,651.36 crore.

Stocks that are banned for trading in the F&O segment on July 08, 2024, are ABFRL, BANDHANBNK, GNFC, HINDCOPPER, INDIACEM and PEL.