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

Sensex closed flat at 81,526.14, while Nifty closed higher by 0.13 per cent and closed at 24,641.80 level.

Market Update at 3:35 PM: On Wednesday, Benchmark indices concluded the trading day on a flat note as Sensex closed flat at 81,526.14, while Nifty closed higher by 0.13 per cent and closed at 24,641.80 level. However, the Broader market, Nifty Midcap closed higher by 0.27 per cent at 59,292.95, while Nifty Smallcap closed higher by 0.38 per cent and closed at 19,657.35.

Market volatility, as indicated by India VIX, declined by 3.70 per cent and is trading at the level of 13.27 reflecting a fall in market volatility.

Within the sectoral landscape, Nifty MID SELECT, Nifty FMCG and Nifty Auto emerged as Top Gainers, while Nifty Energy, Nifty Media and Nifty PSU Bank sector underperformed.

TRENT, BAJFINANCE, and BRITANNIA were among the top gainers while on the other hand JSWSTEEL, ADANIPORTS and NTPC were among the Top Losers.

About 1,300 stocks were advancing as against to 1,073 that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 10:15 AM: On Wednesday, markets opened on a positive note, with both Nifty and Sensex showing positive movement. The Nifty Metal index led the gains, while Nifty Bank index lagged behind.

As of now, the Sensex is down by 0.01 per cent, hovering around 81,500, and Nifty is up by 0.03 per cent, trading near 24,610. Similarly, in the broader market, the Nifty Midcap rose about 0.08 per cent to about 59,180, and the Nifty Smallcap is up by 0.28 per cent, trading near 19,630.

India VIX is down by 2.32 per cent, trading at 13.46, indicating fall in market volatility.

Within the sectoral landscape Nifty Metal, Nifty FMCG, and Nifty Auto sector is among the Top Gainers while Nifty Bank, Nifty Fin Service, Nifty Media sector is underperforming.

ULTRACEMCO, BRITANNIA, and NESTLEIND are among the top gainers within the Nifty 50 while ICICIBANK, HCLTECH, and TECHM are among the Top Losers.

About 1,364 stocks are advancing as against to 975 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:45 AM: Wall Street's primary indexes ended Tuesday on a lower note, as declines in the technology sector outweighed gains in communications services. Investors remained cautious, anticipating key inflation data that could influence the Federal Reserve’s upcoming interest rate decisions.

Of the 11 major sectors within the S&P 500, only three posted gains ahead of the November Consumer Price Index (CPI) release. This CPI data, a critical indicator ahead of the Fed’s December 17-18 meeting, is expected to show headline inflation inching up to 2.7 per cent in November from 2.6 per cent in October. The Producer Price Index (PPI) data, another significant economic metric, is scheduled for release on Thursday.

The Dow Jones Industrial Average dropped 154.10 points, or 0.35 per cent, closing at 44,247.83. Similarly, the S&P 500 declined by 17.94 points, or 0.30 per cent, to settle at 6,034.91, while the Nasdaq Composite slipped 49.45 points, or 0.25 per cent, finishing at 19,687.24.

The GIFT Nifty is trading flat, indicating a muted start for the day. Nifty futures were trading at 24,690.85.

The U.S. 10-year Treasury yield stands at 4.238 per cent, while the 2-year bond yield at 4.155 per cent.

Brent rose above $72 and WTI neared $69 as China's easing plans and rising crude imports boosted demand outlook. US crude stocks unexpectedly increased, while markets await OPEC’s report and US inflation data.

On December 10 2024, foreign institutional investors (FII) bought shares worth Rs 1,285 crore, while domestic institutional investors (DII) bought shares worth Rs 605 crore.

Stocks that are banned for trading in the F&O segment on December 11, 2024, are METROPOLIS, GRANULES, MANAPPURAM, PVRINOX, RBLBANK.

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