Market Wrap: Benchmark indices closed marginally lower, while Nifty Smallcap outperformed!

In Thursday's trading session, benchmark indices concluded the day with with marginal losses with Sensex declining by 0.01 per cent and Nifty dropping by 0.05 per cent.

Market Update at 3:40 PM: In Thursday's trading session, benchmark indices concluded the day with with marginal losses with Sensex declining by 0.01 per cent and Nifty dropping by 0.05 per cent. However, broader indices closed on a positive note, with Nifty Midcap maintaining a flat trajectory and Nifty Smallcap recording a notable gain of 0.7 per cent.

Market volatility, measured by India VIX, has witnessed a significant drop of 5.29 per cent, signalling a decrease in market uncertainty and a move towards stability.

Among sectoral performances, Nifty Realty, Nifty Media, and Nifty Metal emerged as the top gainers, contributing to the positive momentum. Conversely, Nifty Pharma, Nifty IT, and Nifty PSU Bank experienced losses.

Individual stocks driving the positive sentiment include Hero Motocorp, Bajaj Auto, and BPCL, securing positions among the top gainers within the Nifty 50. On the downside, Cipla, Ultra Tech Cement, and LTI Mindtree found themselves among the top losers.

The broader market sentiment remains optimistic, with 1092 advancing stocks outnumbering 927 declining ones, indicating an overall positive sentiment in the broader market.

Market Update at 2:15 PM: In the ongoing trading session, the Sensex is posting marginal gains of 0.05 per cent, while the Nifty maintains a flat trajectory. Meanwhile, Nifty Midcap is trading higher by 0.06 per cent, and Nifty Smallcap is demonstrating a more pronounced increase, up by 0.82 per cent.

Market volatility, as indicated by India VIX, has marginally declined by 2.61 per cent, signalling a slight decrease in market uncertainty.

In the sectoral landscape, Nifty Realty, Nifty Media, and Nifty Metal are leading the gainers, contributing to the positive momentum. On the flip side, Nifty Pharma and Nifty IT are notable among the top losers.

Individual stocks driving the positive sentiment include Hero Motocorp, Bajaj Auto, and Eicher Motors, emerging as top gainers within the Nifty 50. In contrast, Cipla, SBI Life, and Ultra Tech Cement find themselves among the top losers.

The broader market sentiment remains upbeat, with 1169 advancing stocks outnumbering 848 declining ones, reflecting an overall positive sentiment in the broader market.

Market Update at 12:40 PM: In the ongoing trading session, the Sensex is showing marginal gains of 0.08 per cent, while the Nifty maintains a flat trajectory. Meanwhile, Nifty Midcap is trading higher by 0.07 per cent, and Nifty Smallcap is demonstrating a more pronounced increase, up by 0.82 per cent.

Market volatility, as indicated by India VIX, has experienced a marginal surge of 1.03 per cent, suggesting a slight uptick in market uncertainty.

As European markets prepare for the day, sentiments are mixed, echoing the trends observed in the Asia-Pacific region overnight. European futures show DAX trading lower by 0.02 per cent, while CAC and FTSE are set to open higher by 0.12 per cent and 0.18 per cent, respectively.

Among the sectors in the Indian market, Nifty Realty, Nifty Media, and Nifty Bank are leading the gainers, contributing to the positive momentum. Conversely, Nifty Pharma, Nifty IT, and Nifty Energy are notable among the top losers.

In individual stocks, Hero Motocorp, Bajaj Auto, and Eicher Motors are making significant gains within the Nifty 50, while Cipla, SBI Life, and Divi’s Laboratories find themselves among the top losers.

The broader market sentiment remains optimistic, with 1173 advancing stocks outnumbering 847 declining ones, reflecting an overall positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, the Sensex is showing a marginal uptick of 0.03 per cent, while the Nifty maintains a flat trend. Meanwhile, Nifty Midcap is trading higher by 0.11 per cent, and Nifty Smallcap is exhibiting a more substantial increase, up by 0.84 per cent.

Market volatility, as measured by India VIX, has experienced a slight uptick of 0.63 per cent, hinting at a modest increase in market uncertainty.

Among the sectors, Nifty Realty, Nifty Media, and Nifty Auto are leading the gainers, contributing to the positive momentum. However, Nifty Realty, Nifty Energy, and Nifty IT are notable among the top losers.

In terms of individual stocks, Hero Motocorp, Bajaj Auto, and Indusind Bank are making significant gains within the Nifty 50. On the flip side, Cipla, Hindalco, and Ultra Tech Cement find themselves among the top losers.

The broader market sentiment remains favourable, with 1236 advancing stocks outnumbering 742 declining ones, reflecting an overall positive sentiment in the broader market.

Market Update at 9:30 AM: On Thursday, the Sensex and Nifty initiated the trading session on a positive note, with gains of 0.22 per cent and 0.23 per cent, respectively. Simultaneously, Nifty Midcap and Nifty Smallcap displayed even stronger performances, opening higher by 0.29 per cent and 0.75 per cent, respectively.

Market volatility, as indicated by India VIX, witnessed a modest decrease of 0.42 per cent, reflecting a slight dip in market uncertainty.

In sectoral movements, Nifty Realty, Nifty Media, and Nifty PSU Bank emerged as the top gainers, contributing to the overall positive sentiment. However, Nifty Pharma stood out as the sole major sector currently underperforming.

Individual stock movements showcased Bajaj Auto, Eicher Motors, and HDFC Life as the leading gainers within the Nifty 50, while Cipla, Dr Reddy’s Laboratories, and Ultra Tech Cement faced losses.

The broader market sentiment remained optimistic, with 1480 advancing stocks outnumbering 349 declining ones, indicating a prevailing positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: US Stocks experienced an increase on Wednesday as bond yields briefly touched their lowest point in two months, and the November market upswing extended into the Thanksgiving holiday. The Dow Jones Industrial Average rose by 184.74 points, or 0.53 per cent, reaching 35,273.03. The S&P 500 increased by 0.41 per cent, closing at 4,556.62, while the Nasdaq Composite advanced by 0.46 per cent, reaching 14,265.86.

The GIFT Nifty suggests a slightly optimistic beginning for the benchmark indices reflecting a gain of 5 points. GIFT Nifty futures reached 19,887 points after reaching a peak of 19,902 points.

On Wednesday, U.S. crude prices experienced a decline of approximately 5 per cent after the Organization of the Petroleum Exporting Countries (OPEC) postponed a crucial meeting on production cuts originally scheduled for the weekend.

The West Texas Intermediate contract for January saw a drop of USD 3.87, or 4.98 per cent, closing at USD 73.90 per barrel. Simultaneously, the Brent contract for January fell by USD 3.85, or 4.67 per cent, settling at USD 78.60 per barrel. OPEC announced in a statement that the meeting of energy ministers has been delayed until the following Thursday.

On November 22, 2023, foreign institutional investors (FII) offloaded shares worth Rs 306.56 crore, while domestic institutional investors (DII) bought shares worth Rs 721.24 crore.

Stock that are banned for trading in the F&O segment on November 23, 2023, are BHEL, HINDCOPPER, IBULHSGFIN, INDIACEM, MANAPPURAM, MCX, NMDC, RBLBANK and ZEEL.