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

On Tuesday, Frontline indices concluded the day on a positive note as Sensex closed higher by 0.63 per cent concluding at 72,186.10 level, while Nifty surged by 0.72 per cent and closed at 21,929.40 level.

Market Update at 3:40 PM: On Tuesday, Frontline indices concluded the day on a positive note as Sensex closed higher by 0.63 per cent concluding at 72,186.10 level, while Nifty surged by 0.72 per cent and closed at 21,929.40 level. Similarly, the Broader market experienced positive performance as Nifty Midcap closed substantially higher by 1.22 per cent, while Nifty Smallcap soared by 0.81 per cent.

Market volatility, as indicated by India VIX, has surged by 1.17 per cent, reflecting a slight increase in market volatility.

Nifty IT, Nifty Metal, Nifty Auto and Nifty Pharma were among the top gainers while Nifty PSU Bank, Nifty Bank and Nifty FMCG were among the top losers.

BPCL, HDFC Life and HCL Technologies were among the top gainers while Power Grid, Britannia and Indusind Bank were among the top losing stocks from the Nifty 50.

About 1458 stocks were advancing as against to 788 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:25 PM: In the current trading session benchmark indices trade on a higher note with the Sensex surging by 0.61 per cent, while Nifty soared by 0.68 per cent. Similarly, in the broader indices Nifty Midcap substantially surged by 0.96 per cent, while Nifty Smallcap moderately gained by 0.53 per cent.

India VIX is currently trading marginally higher by 1.71 per cent, indicating an increase in market volatility.

Nifty IT, Nifty Auto and Nifty Pharma are among the top gainers, while Nifty PSU Bank, Nifty Bank and Nifty FMCG are among the top losers.

BPCL, HDFC Life and HCL Technologies are among the top gainers while Power Grid, Indusind Bank and Bajaj Finserv are among the top losing stocks from the Nifty 50.

About 1485 stocks are advancing as against to 763 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices trade on a higher note with the Sensex surging by 0.57 per cent, while Nifty soared by 0.59 per cent. Similarly, in the broader indices Nifty Midcap surged by 0.76 per cent, while Nifty Smallcap soared by 0.68 per cent.

India VIX is currently trading marginally higher by 1.04 per cent, indicating a slight increase in market volatility.

European markets are heading for a higher open on Tuesday as investor confidence remains robust despite the lack of a clear timetable for interest rate cuts. European futures, DAX, CAC and FTSE trades higher by 0.05 per cent, 0.22 per cent and 0.07 per cent respectively.

Nifty IT, Nifty Auto and Nifty Pharma are among the top gainers, while Nifty PSU Bank, Nifty Bank and Nifty FMCG are among the top losers.

HDFC Life, TCS and BPCL are among the top gainers while Power Grid, Bajaj Finserv and Britannia are among the top losing stocks from the Nifty 50.

About 1460 stocks are advancing as against to 777 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, benchmark indices are trading on a higher note, with Sensex surging by 0.26 per cent and Nifty is also showing gain of 0.33 per cent. Similarly in the broader indices Nifty Midcap experiences significant gain of 0.75 per cent, while Nifty Smallcap substantially surged by 0.72 per cent.

India VIX is trading marginally higher by 0.61 per cent, indicating a slight increase in market volatility.

Noteworthy gainers include Nifty IT, Nifty Auto and Pharma, while PSU Bank, Nifty Bank and Nifty FMCG are among the top losers.

Top gainers in individual stocks are HDFC Life, Bharti Airtel and Wipro, whereas Power Grid, ITC and Britannia are among the leading losers in the Nifty 50.

The broader market sentiment remains slightly positive, with 1425 stocks advancing compared to 779 declining.

Market Update at 9:35 AM: On Tuesday, Indian markets initiated the trading day on a positive note with the Sensex opening marginally higher by 0.23 per cent, while Nifty also opened marginally higher by 0.2 per cent. Similarly, Nifty Midcap opened moderately higher by 0.52 per cent, whereas Nifty Smallcap opened higher 0.59 per cent.

India VIX has marginally surged by 0.70 per cent, indicating a marginal increase in market volatility.

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

TCS, HCL Technologies and Wipro are among the top gainers while Power Grid, Hindalco and NTPC are among the top losing stocks from the Nifty 50.

About 1470 stocks are advancing as against to 632 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:50 AM: On Monday, Wall Street's primary indices concluded lower as Federal Reserve Chair Jerome Powell adamantly dismissed speculation of imminent rate cuts, while investors evaluated a varied assortment of U.S. earnings reports.

The Dow Jones Industrial Average dropped by 274.30 points, equivalent to 0.71 per cent, closing at 38,380.12, while the S&P 500 shed 15.80 points, or 0.32 per cent, to settle at 4,942.81. Similarly, the Nasdaq Composite retreated by 31.28 points, or 0.20 per cent, reaching 15,597.68.

The GIFT Nifty trends point towards a pessimistic beginning for the benchmark indices in India, with a decline of 31.50 points or 0.14 per cent. Nifty futures were observed trading near the 21,619.50 mark.

In early trading on Tuesday, oil prices showed minimal movement as market participants evaluated U.S. Secretary of State Antony Blinken's visit to the Middle East to discuss a ceasefire proposal. Blinken's meeting with Saudi Arabia's de-facto ruler on Monday is crucial for Palestinians anticipating a truce ahead of a potential Israeli assault on Rafah, a border city where a significant portion of the Gaza Strip population seeks refuge.

The ceasefire proposal, conveyed to Hamas last week by Qatari and Egyptian mediators, is pending a response from militants who seek additional assurances that it will bring an end to the ongoing four-month-old conflict. Brent crude futures were down by 2 cents at USD 77.97 per barrel, while U.S. West Texas Intermediate crude futures saw a marginal decrease of 3 cents, settling at USD 72.75. Both contracts experienced nearly a 1 per cent gain on Monday, breaking a four-session decline.

On February 05, 2024, foreign institutional investors (FII) bought shares worth Rs 518.88 crore, while domestic institutional investors (DII) offloaded shares worth Rs 1,188.68 crore.

Stocks that are banned for trading in the F&O segment on February 06, 2024, are HINDCOPPER, INDIACEM, INDUSTOWER, NATIONALUM, UPL and ZEEL.