Market Wrap: Benchmark indices close on a positive note while Nifty Bank soars!

On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex moderately gained by 0.47 per cent closing at 74,227.64 level, while Nifty also surged by 0.36 per cent and closed at 22,514.65 level.

Market Update at 3:40 PM: On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex moderately gained by 0.47 per cent closing at 74,227.64 level, while Nifty also surged by 0.36 per cent and closed at 22,514.65 level. Similarly, the Broader market experienced positive performance as Nifty Midcap closed marginally higher by 0.01 per cent, while Nifty Smallcap soared by 0.45 per cent.

Market volatility, as indicated by India VIX, has declined by 1.34 per cent, reflecting a decrease in market volatility.

Nifty IT, Nifty Bank, Nifty Financial Services and Nifty Auto were among the top gainers while Nifty PSU Bank, Nifty Energy, Nifty FMCG and Nifty Pharma were the major sectors which underperformed.

HDFC Bank, Eicher Motors and Tech Mahindra were among the top gainers while ONGC, Shriram Finance and Adani Ports were among the top losing stocks from the Nifty 50.

About 1304 stocks were advancing as against to 806 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading moderately higher by 0.53 per cent, while Nifty trades higher by 0.44 per cent. Similarly, in the broader indices Nifty Midcap has marginally gained by 0.06 per cent, while Nifty Smallcap has moderately gained by 0.41 per cent.

India VIX is currently trading lower by 1.89 per cent, indicating a decrease in market volatility.

Nifty IT, Nifty Bank and Nifty Financial Services are among the top gaining sectors while Nifty PSU Bank, Nifty FMCG and Nifty Energy are among the top losers.

HDFC Bank, Eicher Motors and Asian Paints are among the top gainers while ONGC, Shriram Finance and Adani Ports are among the top losing stocks from the Nifty 50.

About 1273 stocks are advancing as against 833 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade lower with the Sensex marginally declining by 0.03 per cent, while Nifty also plunged by 0.16 per cent. Similarly, in the broader markets Nifty Midcap has declined by 0.1 per cent, while Nifty Smallcap has gained by 0.17 per cent.

India VIX is currently trading marginally higher by 0.90 per cent, indicating a slight increase in market volatility.

European markets are poised to open higher on Thursday as Investors look to build momentum following a shaky start to the new trading quarter. European Futures DAX trades marginally lower by 0.04 per cent while CAC and FTSE trade higher by 0.06 per cent and 0.13 per cent respectively.

Nifty Financial Services, Nifty Bank and Nifty IT are among the top gainers while Nifty PSU Bank, Nifty Energy and Nifty Metal are among the top losers.

HDFC Bank, TCS and Axis Bank are among the top gainers while ONGC, Shriram Finance and Grasim are among the top losing stocks from the Nifty 50.

About 1090 stocks are advancing as against to 1023 stocks that are declining, thus indicating a slightly positive sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, benchmark indices are trading on a lower note with Sensex marginally declining by 0.25 per cent while Nifty also marginally plunged by 0.33 per cent. Similarly, in the broader indices Nifty Midcap experiences marginal declines of 0.07 per cent, while Nifty Smallcap has gained by 0.19 per cent.

India VIX is trading higher by 2.84 per cent, indicating an increase in market volatility.

Nifty Bank, Nifty Financial Services and Nifty IT are among the top gaining sectors while Nifty Pharma, Nifty Auto and Nifty Metal are among the top losers.

Top gainers in individual stocks are NTPC, HDFC Bank and Divi’s Laboratories, whereas Shriram Finance, Indusind Bank and Sun Pharma are among the top losers in the Nifty 50.

The broader market sentiment is slightly positive, with 1068 stocks advancing compared to 1023 stocks declining.

Market Update at 9:30 AM: On Thursday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.36 per cent, while Nifty also opened higher by 0.34 per cent. Similarly, in the broader indices Nifty Midcap opened moderately higher by 0.4 per cent, while Nifty Smallcap opened substantially higher by 0.69 per cent.

India VIX has marginally increased by 0.73 per cent, indicating a marginal increase in market volatility.

Nifty Bank, Nifty Financial Services and Nifty Metal are among the top gainers while Nifty Pharma is the only major sector which is underperforming as of now.

HDFC Bank, NTPC and Hindalco are among the top gainers while Indusind Bank, HCL Technologies and Sun Pharma are among the top losing stocks from the Nifty 50.

About 1682 stocks are advancing as against to 344 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:10 AM: The S&P 500 and Nasdaq ended higher on Wednesday, despite data revealing a slowdown in US services industry growth for March. However, gains were tempered as Federal Reserve Chair Jerome Powell suggested that an interest rate cut was not imminent.

The Dow Jones Industrial Average declined by 43.1 points, or 0.11 per cent, closing at 39,127.14. Meanwhile, the S&P 500 rose by 5.68 points, or 0.11 per cent, reaching 5,211.49, and the Nasdaq Composite increased by 37.01 points, or 0.23 per cent, to 16,277.46.

The GIFT Nifty trends suggest a favourable beginning for the Indian Benchmark indices, with an increase of 71 points or 0.32 per cent. Nifty futures were observed trading at approximately the 22,595.50 level.

Oil prices climbed in early Asian trading on Thursday due to concerns about reduced supply. Major producers are maintaining output cuts, and there are indications of stronger economic growth in the US, the world's largest oil consumer.

Brent futures for June increased by 15 cents, or 0.2 per cent, settling at USD 89.51 a barrel. Similarly, US West Texas Intermediate (WTI) futures for May rose by 15 cents, or 0.2 per cent, reaching USD 85.59 a barrel. Both the June Brent contract and the May WTI contract have experienced gains for the past four days, closing on Wednesday at their highest levels since the end of October.

The increase in oil prices is attributed to several factors, including Ukraine's attacks on Russian refineries, which have disrupted fuel supply. Additionally, concerns persist about the potential expansion of the Israel-Hamas conflict in Gaza to involve Iran, potentially disrupting supplies in the crucial Middle East region.

On April 03, 2024, foreign institutional investors (FII) offloaded shares worth Rs 2,213.56 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,102.41 crore.

Stocks that are banned for trading in the F&O segment on April 04, 2024, are HINDCOPPER, SAIL and ZEEL.