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

On Wednesday, Frontline indices concluded the day on a positive note as Sensex closed moderately higher by 0.38 per cent concluding at 71,657.71 level, while Nifty also closed moderately higher by 0.34 per cent concluding at 21,618.70.

Market Update at 3:35 PM: On Wednesday, Frontline indices concluded the day on a positive note as Sensex closed moderately higher by 0.38 per cent concluding at 71,657.71 level, while Nifty also closed moderately higher by 0.34 per cent concluding at 21,618.70. Similarly Broader indices closed on a mixed note with Nifty Midcap surging by 0.29 per cent, while Nifty Smallcap plunged by 0.15 per cent.

Market volatility, as indicated by India VIX, has declined by 3.37 per cent, reflecting a decrease in market volatility.

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

Cipla, Adani Enterprises and Reliance were among the top gainers while ONGC, Divi's Laboratories and NTPC were among the top losing stocks from the Nifty 50.

About 1195 stocks were advancing as against to 1032 stocks that were declining, thus indicating a slight optimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a mixed note with the Sensex marginally surging by 0.02 per cent, whereas Nifty marginally declined by 0.04 per cent. Similarly, Nifty Midcap has declined by 0.2 per cent, while Nifty Smallcap trades lower by 0.49 per cent

India VIX is currently trading marginally higher by 0.62 per cent, indicating a slight decrease in market volatility.

Nifty Media, Nifty Metal and Nifty Bank are among the top gainers, while Nifty Energy, Nifty Realty and Nifty FMCG were among the top losers.

Adani Enterprises, Cipla and HCL Technologies are among the top gainers while ONGC, NTPC and BPCL are among the top losing stocks from the Nifty 50.

About 1016 stocks are advancing as against to 1206 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade lower with the Sensex marginally declining by 0.04 per cent, while Nifty also marginally plunged by 0.09 per cent. Similarly, Nifty Midcap has also dipped by 0.34 per cent, while Nifty Smallcap is also experiencing a moderate decline of 0.63 per cent.

India VIX is currently trading higher by 1.63 per cent, indicating a slight increase in market volatility.

European markets are set to open lower on Wednesday as sentiment turns negative after a brief rally in yesterday’s trading session. European futures DAX, CAC and FTSE trade lower by 0.26 per cent, 0.18 per cent and 0.3 per cent respectively.

Nifty Media, Nifty Metal and Nifty Bank are among the top gainers, while Nifty Realty, Nifty Energy and Nifty PSU Bank are among the top gainers.

Adani Enterprises, HCL Technologies and Cipla are among the top gainers while NTPC, ONGC and BPCL are among the top losing stocks from the Nifty 50.

About 951 stocks are advancing as against to 1260 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:20 AM: In the current trading session benchmark indices trade on a flat note with the Sensex trading flat, while Nifty trading marginally lower by 0.03 per cent. Similarly, Nifty Midcap has marginally declined by 0.14 per cent, while Nifty Smallcap has moderately declined by 0.33 per cent.

India VIX is currently trading higher by 1.79 per cent, indicating a slight increase in market volatility.

Nifty Media, Nifty IT and Nifty Metal are among the top gainers while Nifty Realty, Nifty FMCG and Nifty PSU Bank are among the top losers.

HCL Technologies, SBI Life and Cipla are among the top gainers while, NTPC, BPCL and ONGC are among the top losing stocks from the Nifty 50.

About 1007 stocks are advancing as against to 1201 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:35 AM: On Wednesday, Indian markets initiated the trading day on a negative note with the Sensex opening marginally lower by 0.03 per cent, while Nifty also opened marginally lower by 0.1 per cent. Similarly Nifty Midcap opened mdmoderately lower by 0.39 per cent, while Nifty Smallcap also opened moderately lower by 0.39 per cent.

India VIX has plunged by 0.95 per cent, indicating a slight increase in market volatility.

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

SBI Life, Cipla and HCL Technologies are among the top gainers while BPCL, ONGC and NTPC are among the top losing stocks from the Nifty 50.

About 801 stocks are advancing as against to 1294 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:15 AM: In overnight trading on January 9, U.S. stock futures showed minimal movement. Futures linked to the Dow Jones Industrial Average saw a slight decline of 35 points, and S&P 500 futures edged down by 0.05 per cent. Nasdaq-100 futures remained close to the flatline.

The GIFT Nifty suggests a slightly bearish commencement for the benchmark indices, showing a decrease of 30 points. GIFT Nifty futures settled at 21,596 points following a peak at 21,817 points.

Surge in SIP Registrations Hits Record High in December:

In December, an unprecedented 4.032 million individuals enrolled for systematic investment plans (SIPs), propelled by the enduring bull market. This marked a 31 per cent surge compared to November and an impressive 73.5 per cent increase from the previous year.

The Association of Mutual Funds in India (AMFI) reported a consistent monthly addition of 3 million new SIP registrations since July. This has propelled the total SIP registrations for the fiscal year 2023 above the combined figures for fiscal years 2022 and 2023. From April to December 2023, there were 28.5 million new registrations, surpassing the cumulative totals of 25.1 million and 26.6 million for the entire fiscal years 2023 and 2022, respectively.

On January 9, oil prices rebounded after a decline in the previous session, with market dynamics balancing Middle East tensions against concerns about demand and increasing OPEC supply. Brent crude futures saw an increase of USD 1.47, equivalent to 1.93 per cent, settling at USD 77.59 per barrel. Similarly, US West Texas Intermediate crude futures experienced a gain of USD 1.47, or 2.08 per cent, settling at USD 72.24 per barrel.

In response to maritime attacks by Yemeni Houthi militants, significant shipping companies, such as Germany’s Hapag-Lloyd, continue to reroute vessels around the Cape of Good Hope, avoiding the Red Sea.

The Dollar index saw a 0.28 per cent increase in futures, reaching 102.50, while the exchange rate for one dollar remained around Rs 83.16.

On January 09, 2024, foreign institutional investors (FII) offloaded shares worth Rs 990.90 crore, while domestic institutional investors (DII) purchased shares worth Rs 104.23 crore.

Stocks that are banned for trading in the F&O segment on January 10, 2024, are BALRAMCHIN, BANDHANBNK, CHAMBLFERT, DELTACORP, ESCORTS, GNFC, HINDCOPPER, IEX, INDIACEM, NATIONALUM, PEL and SAIL.