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

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

Gaurav Taparia
/ Categories: Trending, Mkt Commentary

Sensex closed higher by 1.00 per cent and closed at 81,765.86, while Nifty closed higher by 0.98 per cent and closed at 24,708.40 level.

Market Update at 3:55 PM: On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex closed higher by 1.00 per cent and closed at 81,765.86, while Nifty closed higher by 0.98 per cent and closed at 24,708.40 level. However, the Broader market, Nifty Midcap closed higher by 0.57 per cent at 58,441.55, while Nifty Smallcap closed higher by 0.83 per cent and closed at 19,333.55.

Market volatility, as indicated by India VIX, rose by 0.55 per cent and is trading at the level of 14.53 reflecting a slight rise in market volatility.

Within the sectoral landscape, Nifty IT, Nifty Auto and Nifty Fin Service emerged as Top Gainers, while Nifty Realty and Nifty PSU Bank sector underperformed.

TCS, INFY, and TITAN were among the top gainers while on the other hand SBILIFE, HDFCLIFE and BAJAJ-AUTO were among the Top Losers.

About 1,281 stocks were advancing as against to 1,075 that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:00 PM: During the ongoing trading session, benchmark indices are showing a positive trend, with the Sensex up by 0.87 per cent and the Nifty up by 0.77 per cent. However, in the broader market, the Nifty Midcap rose by 0.36 per cent, while the Nifty Smallcap rose by 0.83 per cent.

India VIX rose by 4.91 per cent and is trading around the mark of 15.16, indicating a rise in market volatility.

In the sectoral landscape Nifty IT, Nifty Metal and Nifty Fin Service emerged as top gainers, Nifty Realty, Nifty Media and Nifty Pharma sectors are underperforming.

Top gainers in individual stocks are TITAN, DRREDDY, and INFY while, BAJAJ-AUTO, SBILIFE and NTPC is among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1,336 stocks advancing compared to 1,029 stocks declining.

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

As of now, the Sensex is down by 0.16 per cent, hovering around 80,820, and Nifty is down by 0.24 per cent, trading near 24,410. However, in the broader market, the Nifty Midcap rose about 0.03 per cent to about 58,120, and the Nifty Smallcap is up by 0.39 per cent, trading near 19,250.

India VIX is up by 5.54 per cent, trading at 15.25, indicating rise in market volatility.

Within the sectoral landscape Nifty IT sector is among the Top Gainers while Nifty PSU Bank, Nifty Energy and Nifty Metal sector is underperforming.

BHARTIARTL, TCS, and TECHM are among the top gainers within the Nifty 50 while BAJAJ-AUTO, NTPC, and POWERGRID are among the Top Losers.

About 1,080 stocks are advancing as against to 1,173 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:30 AM: A rally in US tech stocks and hopes of lower interest rates lifted global markets, while the euro and dollar remained stable on Wednesday despite political challenges in South Korea and France.

Major Wall Street indexes closed at record highs, fueled by gains in tech stocks and comments from Federal Reserve officials.

The S&P 500 climbed 0.6 per cent to reach 6,086, and the Nasdaq Composite surged 1.3 per cent to 19,735 — both hitting all-time highs. Meanwhile, the Dow Jones Industrial Average increased by 0.7 per cent to 45,014.

The GIFT Nifty is trading marginally lower, indicating a flat to negative start for the day. Nifty futures were trading at 24,561.00.

The U.S. 10-year Treasury yield stands at 4.194 per cent, while the 2-year bond yield at 4.138 per cent.

Brent crude stabilized above $72 per barrel, and WTI held around $68.7 on Thursday, recovering slightly after a 2 per cent drop. Traders are watching the OPEC+ meeting, with reports suggesting a potential three-month delay in output hikes to avoid oversupply.

EIA data showed US crude stocks fell by over 5 million barrels, the largest drop since August, but production hit a record high. Geopolitical risks, including unrest in South Korea and conflicts in Syria, provided additional support to oil prices.

On December 4 2024, foreign institutional investors (FII) bought shares worth Rs 1,797 crore, while domestic institutional investors (DII) sold shares worth Rs 900 crore.

Stocks that are banned for trading in the F&O segment on December 5, 2024, are GRANULES

MANAPPURAM, RBLBANK.

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

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