Market Wrap: Benchmark indices closed lower while Broader indices outperformed!

On Tuesday, the benchmark indices wrapped up the trading session with marginal losses.

Market Update on 3:40 PM: On Tuesday, the benchmark indices wrapped up the trading session with marginal losses. The Sensex and Nifty experienced a marginal decrease of 0.03 per cent each concluding slightly lower. In contrast, the broader indices, including the Nifty Midcap and Nifty Smallcap, ended the day with gains of 0.28 per cent and 0.75 per cent, respectively.

Market volatility showed a slight uptick, with India VIX surging by 0.56 per cent.

The top-performing sectors of the day included Nifty Pharma, Nifty PSU Bank, and Nifty Bank. In contrast, Nifty Realty, Nifty Media, and Nifty Auto were among the top sectors facing losses.

Noteworthy individual stock movements highlighted Sun Pharma, BPCL, and NTPC as the leading gainers, while Hero Motocorp, Coal India, and Bajaj Finance encountered declines within the Nifty 50 index.

Despite the marginal losses in benchmark indices, the broader market sentiment remained optimistic, with approximately 1,082 advancing stocks compared to 946 declining stocks, underscoring a positive outlook within the broader market.

Market Update at 2:15 PM: In today's trading session, both the Sensex and Nifty experienced modest declines of 0.08 per cent and 0.06 per cent, respectively. Conversely, Nifty Midcap and Nifty Smallcap exhibited a more positive trend, trading higher by 0.2 per cent and 0.55 per cent, respectively.

Market volatility saw an uptick, with India VIX surging by 1.22 per cent, indicating increased market uncertainty.

Notable sector performances included Nifty Pharma, Nifty PSU Bank, and Nifty Metal as the top gainers, while Nifty Realty, Nifty Media, and Nifty Financial Services faced losses.

Among individual stocks, Sun Pharma, Dr. Reddy's Laboratories, and NTPC were among the top gainers, while Hero Motocorp, Bajaj Finance, and Power Grid witnessed declines within the Nifty 50.

The broader market showed positive sentiment, with approximately 1,118 advancing stocks compared to 906 declining stocks, signalling an optimistic outlook in the broader market.

Market Update at 12:30 PM: In the current trading session, both the Sensex and Nifty observed declines of 0.4 per cent and 0.31 per cent, respectively. Conversely, Nifty Midcap and Nifty Smallcap demonstrated a more positive trend, trading higher by 0.2 per cent and 0.26 per cent, respectively.

The India VIX exhibited a notable surge of 2.32 per cent, reflecting an increase in market volatility.

European markets are set to open lower on Tuesday as European futures DAX, FTSE and CAC trade lower by 0.33 per cent, 0.25 per cent and 0.43 per cent respectively.

Among sectors, Nifty Pharma, Nifty Energy, and Nifty Metal stood out as the top gainers, while Nifty Realty, Nifty Bank, and Nifty Financial Services registered losses.

Individual stock movements showcased ONGC, Dr. Reddy's Laboratories, and BPCL as the leading gainers, while ICICI Bank, HDFC Bank, and Bajaj Finance faced declines within the Nifty 50.

The broader market displayed a positive sentiment, with approximately 1053 advancing stocks in contrast to 952 declining stocks, underscoring an optimistic outlook in the broader market.

Market Update at 11:10 AM: The current market session witnessed a decline in both the Sensex and Nifty, marking losses of 0.16 per cent and 0.08 per cent, respectively. In contrast, Nifty Midcap and Nifty Smallcap exhibited a more favourable performance, trading notably higher by 0.39 per cent and 0.33 per cent, respectively.

India VIX showed a surge of 1.82 per cent, signifying an uptick in market volatility.

Notable sectors that displayed strength included Nifty Pharma, Nifty PSU Bank, and Nifty Metal, while Nifty Realty, Nifty Media, and Nifty Financial Services faced losses.

Among individual stocks, ONGC, Dr. Reddy's Laboratories, and BPCL were among the top gainers, while ICICI Bank, Hero Motocorp, and Apollo Hospitals experienced declines within the Nifty 50.

Market sentiment remained positive, with approximately 1140 stocks advancing compared to 846 stocks declining, indicating an overall optimistic outlook in the broader market.

Market Update at 9:30 AM: On Tuesday, the Sensex and Nifty opened with marginal losses, showing a decline of 0.26 per cent and 0.22 per cent, respectively. In contrast, Nifty Midcap started the day with a slight uptick of 0.2 per cent, and Nifty Smallcap exhibited a higher opening by 0.18 per cent.

India VIX experienced a 1.51 per cent increase, indicating a minor uptick in market volatility.

Noteworthy performers among sectors included Nifty Pharma, Nifty IT, and Nifty Energy, while Nifty Realty, Nifty Bank, and Nifty Media encountered losses.

Among individual stocks, Bajaj Finserv, BPCL, and Bajaj Finance led the gainers' list, while Divi's Laboratories, Power Grid, and ICICI Bank faced declines within the Nifty 50.

Market sentiment remained positive, with around 1,100 stocks advancing compared to 763 stocks declining, reflecting the overall optimism in the broader market.

Pre-Market Update at 7:50 AM: On Monday evening, US stock futures experienced a dip as investors deliberated the potential continuation of the Wall Street rally. Futures linked to the Dow Jones Industrial Average declined by 61 points, approximately 0.2 per cent, while both S&P 500 futures and Nasdaq 100 futures registered marginal decreases of about 0.2 per cent.

During regular trading hours on Monday, stocks managed to secure modest gains. Notably, the tech-heavy Nasdaq Composite achieved its seventh consecutive positive session, a feat not witnessed since January. Both the S&P 500 and the 30-stock Dow exhibited gains for the sixth consecutive session, a streak last observed in June and July.

The GIFT Nifty signals a slightly bearish commencement for the benchmark indices, with a decline of 16 points. GIFT Nifty futures were recorded at 19,465 points after reaching a peak of 19,473 points.

Oil prices experienced a slight increase on Monday following the announcement by leading oil exporters Saudi Arabia and Russia that they would maintain their additional voluntary oil production reductions until the end of the year, effectively keeping the oil supply constrained. Simultaneously, market participants monitored the potential imposition of stricter U.S. sanctions on Iranian oil.

Brent crude futures saw a rise of 41 cents, equivalent to a 0.5 per cent increase, reaching USD 85.30 per barrel. In the futures market, the Dollar index registered a 0.16 per cent decline, settling at 104.90. Meanwhile, the exchange rate of one dollar remained close to Rs 83.22.

On November 06, 2023, foreign institutional investors (FII) offloaded shares worth Rs 549.37 crore, while domestic institutional investors (DII) purchased shares worth Rs 595.70 crore.

Stock that is banned for trading in the F&O segment on November 07, 2023, is GNFC.