Market Wrap: Benchmark indices decline over 5.5 per cent while Nifty PSU Bank plunged over 15 per cent!

On Tuesday, Benchmark indices concluded trading day on a negative note as Sensex significantly declined by 5.74 per cent and closed at 72,079.05 level, while Nifty plunged by 5.93 per cent and closed at 21,884.50 level.

Market Update at 3:35 PM: On Tuesday, Benchmark indices concluded trading day on a negative note as Sensex significantly declined by 5.74 per cent and closed at 72,079.05 level, while Nifty plunged by 5.93 per cent and closed at 21,884.50 level. Similarly, the Broader market also experienced significant losses as Nifty Midcap closed lower by 7.88 per cent, while Nifty Smallcap plummeted by 8.23 per cent.

Market volatility, as indicated by India VIX, has surged by 23.65 per cent and is trading around the level of 25.89 reflecting heightened market volatility.

Nifty FMCG was the only major sector which closed positively while Nifty PSU Bank, Nifty Energy, Nifty Metal and Nifty Realty closed negatively.

Hindustan Unilever, Nestle India and Britannia were among the top gainers while Adani Ports, Adani Enterprises and ONGC were among the top losing stocks from the Nifty 50.

About 113 stocks were advancing as against to 2022 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade on a lower note with the Sensex trading significantly lower by 5.19 per cent, while Nifty declined by 5.4 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 6.89 per cent, while Nifty Smallcap has declined by 6.88 per cent.

India VIX is currently trading significantly higher by 26.02 per cent and is trading above the level of 26 indicating heightened market volatility.

Nifty FMCG is the only major sector which is trading positively while Nifty PSU Bank, Nifty Energy, Nifty Realty and Nifty Metal are the major sectors which are trading negatively.

Hindustan Unilever, Britannia and Hero Motocorp are among the top gainers while Adani Ports, Adani Enterprises and ONGC are among the top losing stocks from the Nifty 50.

About 127 stocks are advancing as against 2012 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:30 PM In the current trading session benchmark indices trade on a negative note as Sensex has significantly declined by 7.61 per cent, while Nifty has also plummeted by 8.11 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 11 per cent, while Nifty Smallcap has plummeted by 11.75 per cent.

India VIX is up by 47.79 per cent and is trading above the level of 30, indicating significant increase in market volatility amid Lok Sabha election count.

European markets are poised for a lower open on Monday as European futures DAX, CAC and FTSE trades lower by 0.38 per cent, 0.24 per cent and 0.29 per cent respectively.

All the major sectors are trading negatively with Nifty PSU Bank, Nifty Energy, Nifty Metal and Nifty Realty among the top losers.

Hindustan Unilever is the only stock, which is trading positively within the Nifty 50 while, Adani Ports, Adani Enterprises, ONGC and Coal India are among the top losers.

About 74 stocks are advancing as against to 2068 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, Benchmark indices are trading on a lower note with Sensex trading substantially lower by 4.3 per cent, while Nifty plummeted by 4.53 per cent. Similarly, in the broader indices Nifty Midcap experience significant losses of 5.71 per cent, while Nifty Smallcap has plummeted by 6.32 per cent.

India VIX is has soared by 35.74 per cent and is trading above the mark of 28, indicating a significant increase market volatility.

Nifty PSU Bank, Nifty Energy, Nifty Metal and Nifty Realty are trading negatively while no other major sectors are trading positively.

Top gainers in individual stocks are Hindustan Unilever and Britannia, whereas Adani Ports, Adani Enterprises and ONGC are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 102 stocks advancing compared to 2023 stocks declining.

Market Update at 9:35 AM: On Tuesday, Indian markets initiated the trading day on a negative note with the Sensex opening substantially lower by 2.84 per cent, while Nifty also opened lower by 2.9 per cent erasing previous session's gains. Similarly, in the broader indices Nifty Midcap opened significantly lower with a loss of 4.53 per cent, while Nifty Smallcap has plummeted by 4.65 per cent.

India VIX has surged by 17.96 per cent and is trading above the mark of 24, indicating heightened market volatility as the Lok Sabha election count begins.

All the major sectors are trading negatively with Nifty PSU Bank, Nifty Energy, Nifty Metal and Nifty Media among the top losers while no major sectors are trading positively.

Sun Pharma is the only stock from the Nifty 50 which is trading positively while, Adani Enterprises, Adani Ports, Coal India and NTPC are among the top losers.

About 96 stocks are advancing as against to 1942 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:45 AM: The S&P 500 and Nasdaq rose slightly in a volatile session on Monday, influenced by weak manufacturing sector data and a brief trading halt in several equities due to an NYSE glitch.

The US 10-year Treasury yields increased by 40 basis points to 4.40 per cent, while the US 2-year bond yield climbed 26 basis points.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a decline of 0.37 per cent or 86 points. Nifty futures are currently trading near the 23,450 mark.

Oil prices declined by 0.61 per cent in early trade on Tuesday, extending losses from the previous session when they hit a four-month low amid concerns about rising supply later in the year.

Brent crude futures dropped 20 cents, or 0.3 per cent, to USD 78.16 a barrel. Brent closed below USD 80 for the first time since February 7, after falling more than 3 per cent on Monday. U.S. West Texas Intermediate (WTI) crude futures fell 17 cents, or 0.2 per cent, to USD 74.05, also nearing a four-month low after a 3.6 per cent slide on Monday.

On June 03, 2024, foreign institutional investors (FII) bought shares worth Rs 6,850.76 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,913.98 crore.

Stock that is banned for trading in the F&O segment on June 04, 2024 is ZEEL.