Market Wrap: Benchmark indices close on a positive note with Nifty Auto among the top gainers!

On Friday, Benchmark indices concluded trading day on a positive note as Sensex moderately surged by 0.34 per cent and closed at 73,917.03 level, while Nifty also gained by 0.28 per cent and closed at 22,466.10 level.

Market Update at 3:55 PM: On Friday, Benchmark indices concluded trading day on a positive note as Sensex moderately surged by 0.34 per cent and closed at 73,917.03 level, while Nifty also gained by 0.28 per cent and closed at 22,466.10 level. Similarly, the Broader market experienced substantial gains as Nifty Midcap closed higher by 0.88 per cent, while Nifty Smallcap soared by 1.65 per cent.

Market volatility, as indicated by India VIX, has slightly declined by 0.99 per cent, reflecting slight decrease in market volatility.

Nifty Auto, Nifty Realty and Nifty Metal closed positively while Nifty IT and Nifty Pharma were the only major sectors which underperformed.

M&M, JSW Steel and Grasim were among the top gainers while TCS, Cipla and SBI Life were among the top losing stocks from the Nifty 50.

About 1411 stocks were advancing as against to 704 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading moderately higher by 0.38 per cent, while Nifty gained by 0.33 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.82 per cent, while Nifty Smallcap has soared by 1.49 per cent.

India VIX is currently trading lower by 1.74 per cent, indicating a slight decrease in market volatility.

Nifty Auto, Nifty Metal and Nifty Realty are the major sectors which are trading positively while Nifty IT and Nifty Pharma are among the top losers.

M&M, JSW Steel and Ultratech Cement are among the top gainers while Cipla, TCS and Britannia are among the top losing stocks from the Nifty 50.

About 1438 stocks are advancing as against 574 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 moderately higher as Sensex has surged by 0.38 per cent, while Nifty has gained by 0.33 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.74 per cent, while Nifty Smallcap has soared by 1.29 per cent.

India VIX is down by 1.81 per cent and is trading above the level of 19, indicating heightened market volatility.

European markets are poised to open lower Friday after shares snapped a nine-day winning streak in the previous session as earnings weighed on positive sentiment. European futures FTSE and CAC trades higher by 0.16 per cent and 0.31 per cent respectively, while DAX trades lower by 0.11 per cent.

Nifty Metal, Nifty Realty and Nifty Auto are trading positively while Nifty IT and Nifty Pharma are among the top losers.

M&M, JSW Steel and Ultratech Cement are among the top gainers while Cipla, Bajaj Auto and Britannia are among the top losing stocks from the Nifty 50.

About 1495 stocks are advancing as against to 604 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:05 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading moderately higher by 0.33 per cent, while Nifty gained by 0.25 per cent. Similarly, in the broader indices Nifty Midcap experience moderate gains of 0.54 per cent, while Nifty Smallcap has surged by 0.95 per cent.

India VIX is trading slightly lower by 0.86 per cent and is trading above the mark of 19, indicating heightened market volatility.

Nifty Auto, Nifty Metal and Nifty Realty are trading positively while Nifty IT, Nifty Pharma and Nifty FMCG are among the top losers.

Top gainers in individual stocks are M&M, Grasim and JSW Steel, whereas Cipla, SBI Life and Britannia are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1511 stocks advancing compared to 586 stocks declining.

Market Update at 9:35 AM: On Friday, Indian markets initiated the trading day on a positive note with Sensex opening marginally lower by 0.15 per cent, while Nifty also opened lower by 0.12 per cent. Similarly, in the broader indices Nifty Midcap opened higher by 0.38 per cent, while Nifty Smallcap has soared by 0.81 per cent.

India VIX has slightly surged by 1.16 per cent and is trading above the level of 20, indicating heightened market volatility.

Nifty Auto, Nifty Metal and Nifty Realty are trading positively while Nifty IT, Nifty FMCG and Nifty Financial Services are among the top losers.

M&M, ONGC and Grasim are among the top gainers while SBI Life, Axis Bank and Hindustan Unilever are among the top losing stocks from the Nifty 50.

About 1338 stocks are advancing as against to 644 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:50 AM: On Thursday, the Dow Jones Industrial Average closed slightly lower after briefly surpassing 40,000 for the first time, peaking at 40,051.05. The S&P 500 declined by 0.21 per cent, ending at 5,297.10, while the Nasdaq Composite dropped 0.26 per cent to 16,698.32.

Investors were focused on comments from Federal Reserve officials, with three advocating for maintaining high borrowing costs until there is more concrete evidence of easing inflation, indicating no immediate plans to cut interest rates.

The GIFT Nifty indicates a promising start for the Indian Benchmark indices, with a gain of 0.07 per cent or 16.5 points. Nifty futures are currently trading near the 22,473.35 mark.

In early Friday trading, oil prices rose, with Brent crude set to increase for the first time in three weeks due to growing global demand and slowing U.S. inflation.

Brent crude oil rose by 21 cents, or 0.3 per cent, to USD 83.48 per barrel, while U.S. West Texas Intermediate (WTI) futures increased by 18 cents, or 0.2 per cent, to USD 79.41 per barrel. WTI futures are projected to gain 1.4 per cent for the week, and Brent futures are expected to rise by approximately 1 per cent.

On May 16, 2024, foreign institutional investors (FII) offloaded shares worth Rs 776.49 crore, while domestic institutional investors (DII) bought shares worth Rs 2,127.81 crore.

Stocks that are banned for trading in the F&O segment on May 17, 2024, are BALRAMCHIN, BANDHANBNK, BIOCON, BSOFT, GMRINFRA, GRANULES, HINDCOPPER, IDEA, INDIACEM, PEL, SAIL and ZEEL.