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

Sensex declined by 0.49 per cent and closed at 81,523.16, while Nifty declined by 0.49 per cent and closed at 24,918.45 level.

Market Update at 3:35 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex declined by 0.49 per cent and closed at 81,523.16, while Nifty declined by 0.49 per cent and closed at 24,918.45 level. Similarly, the Broader market, Nifty Midcap closed lower by 0.17 per cent at 58,938.05, while Nifty Smallcap declined by 0.81 per cent and closed at 19,161.85.

Market volatility, as indicated by India VIX, has increased by 2.02 per cent and is trading at the level of 13.63 reflecting a rise in market volatility.

Within the sectoral landscape, only Nifty FMCG emerged as Top Gainers, while Nifty PSU Bank, Nifty Media, and Nifty Metal are the sectors which underperformed.

BAJAJ-AUTO, ASIANPAINT, and BAJFINANCE were among the top gainers while on the other hand TATAMOTORS, ONGC, and WIPRO were among the Top Losers.

About 770 stocks were advancing as against to 1,602 that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices have slightly gained with Sensex trading higher by 0.18 per cent while Nifty trading higher by 0.19 per cent. Similarly, in the broader indices Nifty Midcap has gained 0.68 per cent, while Nifty Smallcap is flattish trading around 19,300.

India VIX has declined by 1.87 per cent and is trading around the mark of 13.11 indicating a slight fall in market volatility.

European stocks opened higher on Wednesday as investors awaited U.S. inflation data. The Stoxx 600 rose 0.28 per cent, with most sectors advancing. Mining stocks gained 1.43 per cent, while health care fell 0.61 per cent.

Retail stocks increased 1.19 per cent, boosted by a 3.15 per cent rise in Inditex shares following improved sales.The U.K.’s FTSE 100 lagged with a 0.12 per cent gain as new data showed the economy was flat in July, missing the expected 0.2 per cent growth.

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

BAJAJ-AUTO, ASIANPAINT, and BAJFINANCE are among the top gainers within the Nifty 50 while, TATAMOTORS, ONGC, and BPCL are among the top losers.

About 1,266 stocks are advancing as against to 1,090 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:50 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex trading higher by 0.14 per cent, while Nifty trading higher by 0.14 per cent. Similarly, in the broader indices Nifty Midcap experience an increase of 0.53 per cent, while Nifty Smallcap has surged by 0.12 per cent.

India VIX is has declined by 1.35 per cent and is trading around the mark of 13.18, indicating a decline in market volatility.

In the sectoral landscape, Nifty FMCG, Nifty Pharma, and Nifty MID SELECT emerged as top gainers, while Nifty Auto, Nifty Media, and Nifty Realty are the sectors which are underperforming.

Top gainers in individual stocks are BAJAJ-AUTO, ASIANPAINT and HINDUNILVR while, TATAMOTORS, ONGC, and HINDALCO are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1,339 stocks advancing compared to 1,013 stocks declining.

Market Update at 9:20 AM: On Wednesday, Indian markets opened on a flat note, with Nifty and Sensex showing minimal movement. Nifty IT emerged as the top gainer, while Nifty Auto emerged as the top loser.

The Sensex is almost flat, down by 0.06 per cent, hovering around the 81,885 mark. Similarly, the Nifty is marginally lower by 0.05 per cent, trading close to 25,000. In contrast, the broader market shows slight upward movement, with the Nifty Midcap up by 0.09 per cent at around 59,000, while the Nifty Smallcap remains flat, trading near 19,322.

India VIX has declined by 0.52 per cent and is trading at 13.29, indicating a decline in market volatility.

Within the sectoral landscape Nifty FMCG, Nifty IT, and Nifty Pharma are among the top gainers while Nifty Auto, Nifty Realty, and Nifty PSU Bank are the sectors which are underperforming.

ASIANPAINT, BPCL, and BAJAJ-AUTO are among the top gainers within the Nifty 50 while TATAMOTORS, ONGC, and HINDALCO are among the top losers.

About 1,212 stocks are advancing as against to 945 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:15 AM: The S&P 500 closed 0.5 per cent higher on Tuesday, but gains were limited by concerns over slowing economic growth. Bank stocks struggled, dragging the Dow down, while energy shares also dropped.

The Dow Jones slipped 92.63 points (0.23 per cent) to 40,736.96, while the Nasdaq added 141.28 points (0.84 per cent) to 17,025.88.

In early Wednesday trading, U.S. Treasury yields saw a rise, with the 10-year yield increasing by 21 basis points to 3.64 per cent, while the 2-year yield climbed 17 basis points to 3.60 per cent.

The GIFT Nifty is signaling a soft opening for the market, pointing to a weaker start to the day, with Nifty futures trading at 25,097.

On Tuesday, OPEC released its monthly report, projecting that global oil demand will increase by 2.03 million barrels per day in 2024, slightly lower than the previous estimate of 2.11 million bpd. On Wednesday, crude prices rebounded as concerns about Tropical Storm Francine's impact on oil supply outweighed demand worries.

Brent crude futures rose by 39 cents, or 0.6 per cent, reaching $69.58 a barrel, while U.S. crude futures increased by 44 cents, or 0.7 per cent, to $66.19 a barrel.

On September 10, 2024, foreign institutional investors (FII) bought shares worth Rs 2,208 crore, while domestic institutional investors (DII) sold shares worth Rs 275 crore.

Stocks that are banned for trading in the F&O segment on September 11, 2024, are ABFRL, BALRAMCHIN, BANDHANBNK, BIOCON, CHAMBLFERT, HINDCOPPER, and RBLBANK

Disclaimer: The article is for informational purposes only and not investment advice.