Market Wrap: Benchmark indices closed on a higher note while broader indices outperformed!

On Thursday, Frontline indices concluded the day on a positive note as Sensex closed marginally higher by 0.09 per cent concluding at 71,721.18 level, while Nifty also closed marginally higher by 0.13 per cent concluding at 21,647.20.

Market Update at 3:45 PM: On Thursday, Frontline indices concluded the day on a positive note as Sensex closed marginally higher by 0.09 per cent concluding at 71,721.18 level, while Nifty also closed marginally higher by 0.13 per cent concluding at 21,647.20. Similarly Broader indices closed moderately higher with Nifty Midcap surging by 0.49 per cent, while Nifty Smallcap soared by 0.58 per cent.

Market volatility, as indicated by India VIX, has declined by 1.56 per cent, reflecting a decrease in market volatility.

Nifty Energy, Nifty Auto, Nifty PSU Bank and Nifty Bank were among the top gainers, while Nifty Media, Nifty IT, Nifty FMCG and Nifty Pharma were among the top losers.

Hero Motocorp, Bajaj Auto and Reliance were among the top gainers while Infosys, Dr Reddy’s Laboratories and SBI Life were among the top losing stocks from the Nifty 50.

About 1367 stocks were advancing as against to 842 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a lower note with the Sensex marginally declining by 0.09 per cent, whereas Nifty also marginally declined by 0.06 per cent. Whereas, Nifty Midcap has surged by 0.25 per cent, while Nifty Smallcap trades higher by 0.31 per cent

India VIX is currently trading marginally lower by 0.21 per cent, indicating a slight decrease in market volatility.

Nifty Auto, Nifty Energy and Nifty PSU Bank are among the top gainers, while Nifty Media, Nifty IT and Nifty Pharma were among the top losers.

Hero Motocorp, Bajaj Auto and Reliance are among the top gainers while Dr Reddy’s Laboratories, SBI Life and Infosys are among the top losing stocks from the Nifty 50.

About 1282 stocks are advancing as against to 937 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade higher with the Sensex surging by 0.18 per cent, while Nifty also marginally soared by 0.23 per cent. Similarly, in the broader indices Nifty Midcap has surged by 0.6 per cent, while Nifty Smallcap is also experiencing a moderate gain of 0.49 per cent.

India VIX is currently trading marginally higher by 0.05 per cent, indicating a slight increase in market volatility.

European markets are set to rebound at the open on Thursday after several days of trading in mixed territory. European futures DAX, CAC and FTSE trade higher by 0.54 per cent, 0.65 per cent and 0.33 per cent respectively.

Nifty Auto, Nifty PSU Bank and Nifty Energy are among the top gainers, while Nifty Pharma is the only major sector which is currently underperforming.

Hero Motocorp, Bajaj Auto and Eicher Motors are among the top gainers while Dr Reddy’s Laboratories, Infosys and Nestle India are among the top losing stocks from the Nifty 50.

About 1522 stocks are advancing as against to 692 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:15 AM: In the current trading session benchmark indices trade positively with the Sensex trading marginally higher by 0.18 per cent, while Nifty also trades marginally higher by 0.17 per cent. Similarly, Nifty Midcap has moderately surged by 0.56 per cent, while Nifty Smallcap has also moderately surged by 0.41 per cent.

India VIX is currently trading marginally lower by 0.07 per cent, indicating a slight decrease in market volatility.

Nifty Auto, Nifty Energy and Nifty PSU Bank are among the top gainers while currently there are no major sectors which are underperforming.

Hero Motocorp, Bajaj Auto and Indus Indusind Bank are among the top gainers while, Dr Reddy’s Laboratories, Infosys and SBI Life are among the top losing stocks from the Nifty 50.

About 1510 stocks are advancing as against to 689 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:35 AM: On Thursday, Indian markets initiated the trading day on a positive note with the Sensex opening moderately higher by 0.33 per cent, while Nifty also opened moderately higher by 0.34 per cent. Similarly Nifty Midcap opened higher by 0.46 per cent, while Nifty Smallcap also opened moderately higher by 0.33 per cent.

India VIX has marginally surged by 0.31 per cent, indicating a slight increase in market volatility.

Nifty Energy, Nifty Auto and Nifty PSU Bank are among the top gainers while Nifty Realty and Nifty IT are among the top gainers.

Adani Ports, Adani Enterprises and Cipla are among the top gainers while Ultratech Cement, Eicher Motors and JSW Steel are among the top losing stocks from the Nifty 50.

About 1635 stocks are advancing as against to 460 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:20 AM: Wednesday evening saw U.S. stock futures hovering close to the unchanged mark as Wall Street braced for the release of the latest inflation data and the onset of the fourth-quarter earnings season.

Futures linked to the S&P 500 showed a marginal increase of 0.04 per cent, and Nasdaq 100 futures edged up by 0.1 per cent. Dow Jones Industrial Average futures registered a modest gain of 3 points, equivalent to 0.01 per cent. Following a positive session, all three major indexes experienced gains, with the S&P 500 rising by 0.57 per cent, the Nasdaq Composite by 0.75 per cent, and the 30-stock Dow advancing by 0.45 per cent.

The GIFT Nifty suggests a slightly optimistic commencement for the benchmark indices, showcasing an increase of 15.5 points. GIFT Nifty futures settled at 21,710 points following a peak at 21,735 points.

On Wednesday, oil stabilized, relinquishing a significant portion of its earlier gains. Concerns over Middle East supply, stemming from the Israel-Hamas conflict and the shutdown of a major Libyan oilfield, were counterbalanced by increased U.S. output and apprehensions about sluggish economic growth.

While the Organization of the Petroleum Exporting Countries (OPEC) and its allies are implementing production cuts to support the market, the Energy Information Administration indicated on Tuesday that U.S. crude production is set to reach a record high in 2024. Brent crude futures saw a modest increase of 10 cents, reaching USD 77.69 per barrel, while U.S. West Texas Intermediate crude futures rose by 21 cents, or 0.3 per cent, reaching USD 72.48.

The Dollar index recorded a 0.06 per cent decline in futures, settling at 102.57, while the value of a single dollar remained around Rs 83.02.

On January 10, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,721.35 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,080.01 crore.

Stocks that are banned for trading in the F&O segment on January 11, 2024, are BALRAMCHIN, BANDHANBNK, CHAMBLFERT, ESCORTS, HINDCOPPER, IEX, INDIACEM, INDUSTOWER, NATIONALUM, PEL, PVRINOX, SAIL and ZEEL.