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

On Tuesday, Frontline indices concluded the day on a positive note as Sensex closed marginally higher by 0.04 per cent concluding at 71,385.21 level, while Nifty also closed marginally higher by 0.15 per cent concluding at 21,544.85.

Market Update at 3:45 PM: On Tuesday, Frontline indices concluded the day on a positive note as Sensex closed marginally higher by 0.04 per cent concluding at 71,385.21 level, while Nifty also closed marginally higher by 0.15 per cent concluding at 21,544.85. Similarly Broader indices closed moderately higher with Nifty Midcap surging by 0.16 per cent, while Nifty Smallcap grew by 0.44 per cent.

Market volatility, as indicated by India VIX, has declined by 1.49 per cent, reflecting a decrease in market volatility.

Nifty Realty, Nifty Auto, Nifty Pharma and Nifty Metal were among the top gainers, while Nifty Media, Nifty Financial Services, Nifty Bank and Nifty FMCG were among the top losers.

Hero Motocorp, Adani Ports and Apollo Hospitals were among the top gainers while Britannia, Nestle India and Asian Paints were among the top losing stocks from the Nifty 50.

About 1256 stocks were advancing as against to 969 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:25 PM: In the current trading session benchmark indices trade higher with the Sensex surging by 0.28 per cent, while Nifty also surged by 0.34 per cent. Similarly, Nifty Midcap has marginally surged by 0.19 per cent, while Nifty Smallcap trades higher by 0.46 per cent

India VIX is currently trading lower by 2.02 per cent, indicating a decrease in market volatility.

Nifty Realty, Nifty Auto and Nifty Pharma are among the top gainers, while Nifty Media, Nifty Financial Services and Nifty Bank were among the top losers.

Hero Motocorp, Adani Ports and SBI Life are among the top gainers while Nestle India, HDFC Life and Britannia are among the top losing stocks from the Nifty 50.

About 1371 stocks are advancing as against to 858 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade higher with the Sensex surging by 0.89 per cent, while Nifty soared by 0.92 per cent. Similarly, Nifty Midcap has also gained by 0.64 per cent, while Nifty Smallcap is also experiencing a significant gain of 0.92 per cent.

India VIX is currently trading higher by 1.93 per cent, indicating a slight decrease in market volatility.

European markets are set to open higher on Tuesday rebounding after a gloomy start to the new trading year. European futures DAX trades lower by 0.10 per cent, while and CAC and FTSE trade higher by 0.31 per cent, 0.38 per cent respectively.

Nifty Realty, Nifty IT and Nifty Auto are among the top gainers, while Nifty Media is the only major sector which is currently underperforming.

Hero Motocorp, L&T and Adani Ports are among the top gainers while Nestle India, Britannia and ONGC are among the top losing stocks from the Nifty 50.

About 1614 stocks are advancing as against to 604 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:25 AM: In the current trading session benchmark indices trade substantially higher with the Sensex surging by 0.8 per cent, while Nifty also trades higher by 0.81 per cent. Similarly, Nifty Midcap has moderately surged by 0.62 per cent, while Nifty Smallcap has substantially surged by 0.78 per cent.

India VIX is currently trading lower by 2.79 per cent, indicating a decrease in market volatility.

Nifty Realty, Nifty IT and Nifty Metal are among the top gainers while Nifty Media is the only major sector which is currently underperforming.

Adani Ports, Adani Enterprise and Hero Motocorp are among the top gainers while, Nestle India, ONGC and UPL are among the top losing stocks from the Nifty 50.

About 1640 stocks are advancing as against to 588 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:40 AM: On Tuesday, Indian markets initiated the trading day on a positive note with the Sensex opening moderately higher by 0.52 per cent, while Nifty also opened moderately higher by 0.53 per cent. Similarly Nifty Midcap opened higher by 0.41 per cent, while Nifty Smallcap also opened moderately higher by 0.66 per cent.

India VIX has plunged by 3.01 per cent, indicating a slight decrease in market volatility.

Nifty IT, Nifty Realty and Nifty PSU Bank are among the top gaining sectors while Nifty Media is the only major sector which is currently underperforming.

Adani Ports, Bajaj Auto and L&T are among the top gainers while UPL, Britannia and HDFC Life are among the top losing stocks from the Nifty 50.

About 1659 stocks are advancing as against to 449 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: U.S. stock futures saw marginal declines on Monday night following a positive start to the week for the major averages. Dow Jones Industrial Average futures slipped by 41 points, representing a 0.11 per cent decrease, while S&P 500 futures and Nasdaq 100 futures each experienced a slight dip of nearly 0.1 per cent.

These shifts followed a robust trading session for equities, with the S&P 500 and the Nasdaq Composite surging more than 1 per cent and 2 per cent, respectively, as mega-cap tech stocks rebounded from declines in the previous week. Even the 30-stock Dow closed the day over 200 points higher, reflecting a gain of 0.6 per cent.

The GIFT Nifty signals a modestly favourable opening for the benchmark indices, reflecting an uptick of 125 points. GIFT Nifty futures settled at 21,701 points following a peak at 21,812 points.

On Monday, U.S. crude oil experienced a 4 per cent decline following Saudi Arabia's decision to reduce its prices, reigniting concerns about an oversupplied market coinciding with weakening demand.

The West Texas Intermediate futures contract for February dropped by USD 3.04, or 4.12 per cent, closing at USD 70.77 per barrel. Simultaneously, the Brent futures contract for March decreased by USD 2.64, or 3.35 per cent, settling at USD 76.12 per barrel. This downward trend ensued after Saudi Aramco significantly slashed the price of Arab Light Crude for Asian customers by USD 2 per barrel on Sunday.

The Saudi price reduction occurs against the backdrop of sustained market vulnerabilities, primarily attributed to record U.S. crude production and a softening demand in China. In an attempt to restore market equilibrium, OPEC and its allies are implementing a production cut of 2.2 million barrels per day this quarter.

The Dollar index saw a 0.06 per cent decrease in futures, settling at 102.32, while the exchange rate for one dollar remained around Rs 83.09.

On January 08, 2024, foreign institutional investors (FII) bought shares worth Rs 16.03 crore, while domestic institutional investors (DII) purchased shares worth Rs 155.96 crore.

Stocks that are banned for trading in the F&O segment on January 09, 2024, are BALRAMCHIN, BANDHANBNK, CHAMBLFERT, DELTACORP, ESCORTS, GNFC, HINDCOPPER, IEX, INDIACEM, NATIONALUM, PEL, SAIL and ZEEL.