Market Wrap: Benchmark indices closes on a lower note while Nifty Smallcap register gains!

In the recent market session, both the Sensex and Nifty ended the day with a decrease of 0.48 per cent and 0.56 per cent, respectively.

Market Update at 3:35 PM: In the recent market session, both the Sensex and Nifty ended the day with a decrease of 0.48 per cent and 0.56 per cent, respectively. However, there were pockets of resilience as the Nifty Midcap displayed a marginal uptick, closing higher by 0.18 per cent, while the Nifty Smallcap saw a moderate gain of 0.53 per cent.

Market volatility, as indicated by the India VIX, experienced a significant spike, surging by 2.88 per cent.

Among the sectoral performances, Nifty PSU Bank, Nifty Media, and Nifty Realty emerged as the top gainers, while Nifty Energy, Nifty Auto, and Nifty Pharma faced declines.

Within the Nifty 50 index, Bajaj Finance, L&T, and Titan secured top positions among gainers, whereas ONGC, Eicher Motors, and Hindalco were among the leading losers.

Broad market sentiment appeared slightly negative, with approximately 932 stocks advancing compared to 1097 stocks declining.

Market Update at 12:45 PM: In the current trading session, the Sensex and Nifty have registered slight declines, with reductions of 0.42 per cent and 0.5 per cent, respectively. On a positive note, the Nifty Midcap has managed to inch up by 0.19 per cent, while the Nifty Smallcap displays strength with a 0.54 per cent increase.

European markets are poised for a cautious opening, with futures for DAX, FTSE, and CAC trading lower by 0.46 per cent, 0.55 per cent, and 0.10 per cent, respectively. Investors are carefully considering grim economic data from the region, adding an air of uncertainty to the trading landscape.

One notable development is the 4.89 per cent surge in India VIX, indicating an uptick in market volatility.

Among the top gainers in today's market are the Nifty Media, Nifty PSU Bank, and Nifty Realty sectors, suggesting resilience in these segments. Conversely, the Nifty Auto, Nifty Energy, and Nifty Metal sectors are grappling with significant losses.

In the realm of individual stocks, leaders include Hindustan Unilever, HCL Tech, and Asian Paints, making strides in the Nifty 50 index. However, ONGC, Eicher Motors, and Hindalco are among the prominent losers of the day.

The broader market sentiment remains slightly negative, with 964 stocks advancing compared to 1056 stocks declining. 

Market Update at 11:11 AM: In the current market session, both the Sensex and Nifty have registered slight declines, with reductions of 0.59 per cent and 0.65 per cent, respectively. Interestingly, the Nifty Midcap has managed to eke out a marginal gain of 0.18 per cent, while the Nifty Smallcap is displaying strength with a 0.27 per cent increase.

A notable development is the 5.72 per cent drop in India VIX, suggesting a increase in market volatility.

Among the top gainers are the Nifty Media, Nifty PSU Bank, and Nifty FMCG sectors, reflecting their resilience in the current market conditions. Conversely, the Nifty Auto, Nifty Energy, and Nifty Metal sectors are facing the most significant losses.

When looking at individual stocks, top performers include Hindustan Unilever, HCL Tech, and Asian Paints, which are making gains in the Nifty 50 index. On the other hand, ONGC, Eicher Motors, and Hindalco are among the leading losers in today's trading session.

Despite the minor dip in the Sensex and Nifty, the broader market sentiment remains slightly optimistic, with 911 stocks advancing compared to 809 stocks declining.

Market Update at 9:35 AM: At today's market opening, both the Sensex and Nifty are trading lower, with declines of 0.50 per cent and 0.58 per cent, respectively. The Nifty Midcap has also started the day with a 0.23 per cent drop, while the Nifty Smallcap opens with a 0.16 per cent decline.

The surge in India VIX by 6.99 per cent indicates an increase in market volatility, prompting caution among investors.

Currently there are no major sectors trading positve while, the Nifty Energy, Nifty Metal, and Nifty Auto sectors are among the top losers at the opening bell.

In terms of individual stock performance, Asian Paints, Ultratech Cement, and Hindustan Unilever are among the top gainers from the Nifty 50. On the flip side, Eicher Motors, ONGC, and Hindalco are experiencing losses.

Despite the red start, the broader market sentiment remains relatively positive, with 889 stocks advancing compared to 1014 stocks declining. This dynamic suggests that while certain sectors face challenges at the moment, the overall market still holds potential opportunities for investors.

Pre-Market Update at 7:50 AM: US Stock futures showed minimal movement on Monday night. The start of October trading coincided with a short-term agreement reached by lawmakers in Washington over the weekend, preventing a government shutdown. In Monday's trading session, the Dow, comprising 30 stocks, closed with a 0.2 per cent decrease, while the S&P 500 experienced a marginal 0.01 per cent uptick. The Nasdaq Composite continued its upward trend, gaining 0.67 per cent for the fourth consecutive trading day. Additionally, Wall Street grappled with increasing bond yields, as the 10-year Treasury yield reached above 4.7 per cent at one point on Monday, marking its highest level since October 2007.

On Monday, oil prices experienced a notable decline of approximately 2 per cent, reaching a three-week low. Several factors contributed to this drop, including the expiration of a higher-priced Brent contract, a strengthening US dollar, and profit-taking by traders. Additionally, concerns loomed regarding forecasts of increased crude supplies and the potential impact of high-interest rates on demand.

As the new front-month contract, Brent futures for December delivery commenced trading at USD 90.78 per barrel, marking a decline of 1.5 per cent, from the previous Friday's closing price. Simultaneously, the Dollar index demonstrated strength in futures, gaining 0.61 per cent and reaching 106.87. The value of the US dollar also held firm at approximately Rs 83.20.

The GIFT Nifty suggests a slightly optimistic beginning for the benchmark indices, with a modest increase of 7 points. GIFT Nifty futures are positioned at 19,600 points, having reached a peak of 19,609 points.

On September 29, foreign institutional investors (FII) offloaded shares worth Rs 1,685.70 crore, while domestic institutional investors (DII) bought shares worth Rs 2,751.49 crore.

No stocks are banned for trading in the F&O segment on October 03, 2023.