Market Wrap: Benchmark indices close on a positive note while Broader indices outperformed!

On Wednesday, Benchmark indices concluded the trading day on a positive note as Sensex moderately surged by 0.47 per cent and closed at 75,038.15 level, while Nifty also surged by 0.49 per cent and closed at 22,753.80 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded the trading day on a positive note as Sensex moderately surged by 0.47 per cent and closed at 75,038.15 level, while Nifty also surged by 0.49 per cent and closed at 22,753.80 level. Similarly, the Broader market experienced positive performance as Nifty Midcap closed substantial higher by 0.97 per cent, while Nifty Smallcap gained by 0.73 per cent.

Market volatility, as indicated by India VIX, has declined by 2.18 per cent, reflecting a decrease in market volatility.

Nifty Media, Nifty PSU Bank, Nifty FMCG and Nifty Metal were among the top gainers while Nifty Pharma and Nifty Auto were the major sectors which underperformed.

Coal India, BPCL and Kotak Bank were among the top gainers while HDFC Life, Cipla and Divi’s Laboratories were among the top losing stocks from the Nifty 50.

About 1099 stocks were advancing as against to 1006 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:00 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading Moderately higher by 0.43 per cent, while Nifty trades higher by 0.43 per cent. Similarly, in the broader indices Nifty Midcap has substantially gained by 1.03 per cent, while Nifty Smallcap has surged by 0.8 per cent.

India VIX is currently trading lower by 1 per cent, indicating a slight decrease in market volatility.

Nifty Media, Nifty Metal and Nifty Energy are among the top gaining sectors while Nifty Pharma and Nifty Auto are among the top losers.

Coal India, BPCL and Kotak Bank are among the top gainers while Cipla, HDFC Life and Maruti are among the top losing stocks from the Nifty 50.

About 1132 stocks are advancing as against 977 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 trade higher as Sensex has moderately surged by 0.26 per cent, while Nifty also gained by 0.24 per cent. Similarly, in the broader markets Nifty Midcap has significantly surged by 1.02 per cent, while Nifty Smallcap has gained by 0.6 per cent.

India VIX is currently trading marginally lower by 0.3 per cent, indicating a slight decrease in market volatility.

European stocks are heading for toward an upbeat open on Wednesday as global markets look ahead to the release of U.S. Inflation data for March. European futures DAX, CAC and FTSE trade higher by 0.5 per cent, 0.17 per cent and 0.34 per cent respectively.

Nifty Media, Nifty Metal and Nifty Energy are among the top gainers while Nifty Pharma and Nifty Auto are among the top losers.

BPCL, Coal India and Kotak Bank are among the top gainers while Cipla, HDFC Life and Maruti are among the top losing stocks from the Nifty 50.

About 1090 stocks are advancing as against to 1010 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:11 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex surging by 0.33 per cent, while Nifty also gained by 0.3 per cent. Similarly, in the broader indices Nifty Midcap experiences substantial gains of 0.8 per cent, while Nifty Smallcap has surged by 0.39 per cent.

India VIX is trading lower by 1.17 per cent, indicating a slight decrease in market volatility.

Nifty Metal, Nifty Energy and Nifty Realty are among the top gaining sectors while Nifty Pharma and Nifty Auto are among the top losers.

Top gainers in individual stocks are BPCL, Coal India and Hindalco, whereas Divi’s Laboratories, HDFC Life and SBI Life are among the top losers in the Nifty 50.

The broader market sentiment is slightly positive, with 1068 stocks advancing compared to 1019 stocks declining.

Market Update at 9:30 AM: On Wednesday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.34 per cent, while Nifty also opened higher by 0.33 per cent. Similarly, in the broader indices Nifty Midcap opened higher by 0.45 per cent, while Nifty Smallcap opened moderately higher by 0.21 per cent.

India VIX has declined by 0.37 per cent, indicating a slight decrease in market volatility.

Nifty Metal, Nifty Realty and Nifty Energy are among the top gainers while Nifty Pharma is the only major sector which is currently underperforming.

Bharti Airtel, Hindalco and BPCL are among the top gainers while Divi’s Laboratories, Sun Pharma and Eicher Motors are among the top losing stocks from the Nifty 50.

About 1044 stocks are advancing as against to 852 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:20 AM: On Tuesday, the Nasdaq and S&P 500 registered modest increases, anticipating significant inflation data the following day, while financial stocks weighed on the indices as investors prepared for the commencement of earnings reporting season by major U.S. banks on Friday.

The Dow Jones Industrial Average experienced a minor decline of 9.13 points, equivalent to 0.02 per cent, closing at 38,883.67. In contrast, the S&P 500 saw a gain of 7.52 points, or 0.14 per cent, reaching 5,209.91, and the Nasdaq Composite rose by 52.68 points, or 0.32 per cent, to 16,306.64.

The GIFT Nifty trends suggest a strong beginning for the Indian Benchmark indices, with an increase of `55 points or 0.24 per cent. Nifty futures were observed trading near the 22,814.50 level.

In early Wednesday trading, oil prices remained stable following two consecutive days of declines. The market's concerns about a potential tightening of supply, driven by the uncertainties surrounding ceasefire negotiations in Gaza, were balanced by an unexpected increase in U.S. crude inventories. Brent crude futures stood unchanged at USD 89.42 a barrel, while U.S. West Texas Intermediate (WTI) crude futures edged up by 2 cents to USD 85.25.

On Tuesday, Hamas indicated that an Israeli ceasefire proposal failed to satisfy the conditions of Palestinian militant groups in the Gaza conflict, stating they would further consider the proposal and communicate their decision through mediators.

The ongoing conflict raises fears of wider regional involvement, especially from Iran, a key supporter of Hamas and the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC).

On April 09, 2024, foreign institutional investors (FII) offloaded shares worth Rs 593.20 crore, while domestic institutional investors (DII) bought shares worth Rs 2,257.18 crore.

Stocks that are banned for trading in the F&O segment on April 10, 2024, are BANDHANBNK, EXIDEIND, HINDCOPPER, IDEA, INDIACEM, SAIL and ZEEL.