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

Sensex closed down by 0.62 per cent at 80,182.21, while Nifty closed lower by 0.56 per cent and closed at 24,198.85 level.

Market Update at 3:45 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex closed down by 0.62 per cent at 80,182.21, while Nifty closed lower by 0.56 per cent and closed at 24,198.85 level. However, the Broader market, Nifty Midcap closed lower by 0.64 per cent at 58,723.25, while Nifty Smallcap closed lower by 0.87 per cent and closed at 19,230.35.

Market volatility, as indicated by India VIX, declined by 0.83 per cent and is trading at the level of 14.37 reflecting a slight fall in market volatility.

Within the sectoral landscape, Nifty Pharma and Nifty IT sector emerged as Top Gainers, while Nifty PSU Bank, Nifty Metal and Nifty Media sector underperformed.

TRENT, DRREDDY and CIPLA were among the top gainers while on the other hand TATAMOTORS, POWERGRID and BEL were among the Top Losers.

About 638 stocks were advancing as against to 1,746 that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:40 PM: In the current trading session benchmark indices are trading negative, with Sensex trading lower by 0.73 per cent while Nifty trading lower by 0.68 per cent. Similarly, in the broader indices Nifty Midcap lower by 0.84 per cent, while Nifty Smallcap lower by 1.06 per cent.

India VIX is trading around the mark of 14.49 suggesting low market volatility.

Within the sectoral landscape Nifty IT and Nifty Pharma is among the top gainers while Nifty PSU Bank, Nifty Metal and Nifty Media is underperforming.

DRREDDY, TRENT, and CIPLA are among the top gainers within the Nifty 50 while, TATAMOTORS, BEL, and JSWSTEEL are among the top losers.

About 622 stocks are advancing as against to 1,776 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:45 PM: During the ongoing trading session, benchmark indices are showing a negative trend, with the Sensex down by 0.73 per cent and the Nifty down by 0.70 per cent. However, in the broader market, the Nifty Midcap down by 0.89 per cent, while the Nifty Smallcap declined by 1.05 per cent.

India VIX rose by 0.69 per cent and is trading around the mark of 14.59, indicating a slight rise in market volatility.

European stocks are expected to open lower on Wednesday as investors await the latest monetary policy decision by the US Federal Reserve; European Futures; DAX (-0.12 per cent); CAC (+0.17 per cent); FTSE (+0.11 per cent)

In the sectoral landscape Nifty Pharma emerged as top gainers, Nifty Media, Nifty PSU Bank and Nifty Metal sectors are underperforming.

Top gainers in individual stocks are CIPLA, TRENT, and DRREDDY while, TATAMOTORS, BEL and POWERGRID is among the top losers in the Nifty 50.

The broader market sentiment is negative, with 553 stocks advancing compared to 1,835 stocks declining.

Market Update at 9:25 AM: On Wednesday, markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Pharma index led the gains, while Nifty Media index lagged behind.

As of now, the Sensex is down by 0.19 per cent, hovering around 80,510, and Nifty is down by 0.17 per cent, trading near 24,300. However, in the broader market, the Nifty Midcap declined about 0.44 per cent to about 58,850, and the Nifty Smallcap is down by 0.25 per cent, trading near 19,350.

India VIX is up by 2.90 per cent, trading at 14.91, indicating a rise in market volatility.

Within the sectoral landscape Nifty Pharma, Nifty FMCG, and Nifty IT sector is among the Top Gainers while Nifty Media, Nifty PSU Bank, Nifty Auto sector is underperforming.

DRREDDY, SUNPHARMA, and CIPLA are among the top gainers within the Nifty 50 while TATAMOTORS, LT, and POWERGRID are among the Top Losers.

About 1,044 stocks are advancing as against to 1,205 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:40 AM: US stocks closed lower on Tuesday, with crude oil prices also slipping as investors assessed economic data and braced for upcoming central bank decisions, including a likely Federal Reserve rate cut.

Bitcoin hit new record highs, while U.S. Treasury yields remained steady ahead of what is expected to be a "hawkish cut" from the Fed.

The Dow dropped 266.93 points (0.61 per cent) to 43,450.55, marking its ninth straight loss—the longest streak since 1978. The S&P 500 fell 23.45 points (0.39 per cent) to 6,050.63, and the Nasdaq declined 64.83 points (0.32 per cent) to 20,109.06.

The GIFT Nifty is indicating a negative start for the day. Nifty futures were trading at 24,400.00.

The U.S. 10-year Treasury yield stands at 4.393 per cent, while the 2-year bond yield at 4.24 per cent.

Brent crude rose above $73 and WTI exceeded $69 as U.S. crude stocks fell by 4.7 million barrels, beating forecasts. Prices face pressure from weak China demand and rising non-OPEC+ output, despite hopes of a Fed rate cut boosting growth.

On December 17 2024, foreign institutional investors (FII) sold shares worth Rs 6,409 crore, while domestic institutional investors (DII) bought shares worth Rs 2,706 crore.

Stocks that are banned for trading in the F&O segment on December 18, 2024, are BANDHANBNK, CHAMBLFERT, GRANULES, HINDCOPPER, MANAPPURAM, NATIONALUM, PVRINOX, RBLBANK, SAIL.

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