Market Wrap: Benchmark indices conclude the day on a lower note with Nifty Midcap declining substantially!

In the latest market session, both the Sensex and Nifty concluded the day with moderate declines, with the Sensex falling by 0.35 per cent and Nifty by 0.42 per cent

Market Update at 3:45 PM: In the latest market session, both the Sensex and Nifty concluded the day with moderate declines, with the Sensex falling by 0.35 per cent and Nifty by 0.42 per cent. Meanwhile, Nifty Midcap saw a notable drop of 1.13 per cent, and Nifty Smallcap experienced a smaller decline of 0.79 per cent.

Market volatility saw a slight decrease, with India VIX declining by 0.55 per cent.

Sector-wise, no major sector was trading positively, while Nifty PSU Bank, Nifty Metal, and Nifty FMCG grappled with losses.

Gainers among the Nifty 50 included Kotak Bank, IndusInd Bank, and TCS, while ITC, Tata Steel, and Divi’s Laboratories were among the top losers.

As we delve deeper into the market dynamics, it's evident that the bearish sentiment has prevailed, with 1466 stocks declining and 560 stocks advancing in the broader market.

Market Update at 2:25 PM: In the recent market session, both Sensex and Nifty have experienced a downturn, with losses of 0.31 per cent and 0.39 per cent, respectively. Additionally, Nifty Midcap has seen a significant drop of 1.17 per cent, while Nifty Smallcap is trading lower by 0.84 per cent.

Market volatility, as indicated by India VIX, has decreased by 1.64 per cent, suggesting a slight decline in volatility.

Notable sector performance includes Nifty Financial Services and Nifty Bank as the top gainers, while Nifty Realty, Nifty PSU Bank, and Nifty Metal are among the leading losers.

Top gainers in the Nifty 50 index consist of Nestle India, Kotak Bank, and IndusInd Bank, while ITC, Divi’s Laboratories, and BPCL are among the prominent decliners.

Looking at the broader market sentiment, approximately 603 stocks are advancing in contrast to 1422 stocks that are declining, reflecting a predominantly negative sentiment across the market.

Market Update at 12:40 PM: In the latest market session, Sensex and Nifty have both registered a downtrend, with losses of 0.38 per cent and 0.47 per cent, respectively. Nifty Midcap has experienced a more substantial drop, declining by 1.17 per cent, while Nifty Smallcap trades lower by 0.66 per cent.

India VIX has shown a marginal decline of 0.80 per cent, signaling a slight reduction in market volatility.

European markets are poised to open lower, with European futures indicating declines of 1 per cent, 0.24 per cent, and 1.01 per cent for DAX, FTSE, and CAC, respectively.

In terms of sector performance, all sectors are currently underperforming, with Nifty Realty, Nifty PSU Bank, and Nifty FMCG being among the top losers. Notable gainers in the Nifty 50 index include SBI Life, Kotak Bank, and IndusInd Bank, while ITC, Hindustan Unilever, and BPCL are the leading decliners.

The broader market sentiment reveals that 688 stocks are advancing compared to 1388 stocks declining, indicating a predominantly negative sentiment across the market.

Market Update at 11:10 AM: In the current market session, both Sensex and Nifty are trading with modest declines, down by 0.26 per cent and 0.33 per cent, respectively. Meanwhile, Nifty Midcap exhibits a moderate decrease of 0.51 per cent, while Nifty Smallcap records a marginal dip of 0.03 per cent.

India VIX has seen a marginal decrease of 0.80 per cent, signalling a slight drop in market volatility.

The notable sector performance shows Nifty Media as the sole major sector trading in the positive territory. Conversely, Nifty FMCG, Nifty PSU Bank, and Nifty Metal are among the top underperforming sectors.

Top gainers in the Nifty 50 include Nestle India, Kotak Bank, and IndusInd Bank, while ITC, Hindustan Unilever, and Power Grid are among the leading losers.

The broader market sentiment reveals that 996 stocks are advancing compared to 1010 stocks declining, indicating a slightly negative sentiment.

Market Update at 9:25 AM: Indian markets initiated the day with a mixed tone as Sensex and Nifty opened slightly lower by 0.21 per cent and 0.23 per cent, respectively. Meanwhile, Nifty Midcap began with a 0.12 per cent dip, but Nifty Smallcap showed early strength with a 0.27 per cent increase.

In terms of market volatility, India VIX has seen a marginal uptick of 0.64 per cent.

Sector-wise, Nifty Realty, Nifty Media, and Nifty Auto are among the top gainers, whereas Nifty FMCG, Nifty Pharma, and Nifty Financial Services are experiencing early declines.

Notable performers in the opening minutes include Adani Enterprises, Tata Motors, and Adani Ports on the positive side, while Hindustan Unilever, Divi's Laboratories, and ITC are among the early decliners from the Nifty 50.

The broader market sentiment appears favourable as approximately 1,134 stocks are advancing compared to 709 stocks in decline, indicating an overall positive market sentiment.

Pre-Market Update at 7:55 AM: U.S. stocks concluded the day with significant declines on Thursday, with Tesla's stock in particular witnessing a drop following its Quarterly Results. Concurrently, Treasury yields surged as Federal Reserve Chair Jerome Powell addressed monetary policy, raising concerns among investors about the possibility of sustained higher interest rates.

The Dow Jones Industrial Average saw a decline 0.75 per cent, closing at 33,414.17. The S&P 500 followed suit, with a drop of 0.85 per cent, ending at 4,278. The Nasdaq Composite also witnessed a decline, with a loss of 0.96 per cent, and closing at 13,186.18.

Federal Reserve Chair Jerome Powell indicated that the U.S. central bank is leaning towards maintaining the current interest rates in its upcoming meeting. However, he emphasized that the option for a future rate hike remains open, contingent on any additional indications of sustained economic growth.

Treasury yields extended their rise, with the yield on the benchmark 10-year note reaching a 16-year high, almost reaching 5 per cent.

Indications from GIFT Nifty suggest a pessimistic beginning for the benchmark indices in India, with a decline of 48.50 points, equivalent to a 0.25 per cent decrease. The Nifty futures were trading near the 19,506.50 level.

On October 19, foreign institutional investors (FII) offloaded shares worth Rs 1,093.47 crore, while domestic institutional investors (DII) purchased shares worth Rs 736.15 crore.

Stocks that are banned for trading in the F&O segment on October 20, 2023, are BALRAMCHIN, DELTACORP, GNFC, IBULHSGFIN, INDIACEM, MANAPPURAM and MCX.