Market Wrap: Benchmark indices end flat; Nifty IT and Nifty Financial Services witness significant losses

The benchmark indices concluded the session on a neutral note. Sensex ended nearly unchanged at 78,501.12, while Nifty finished flat at 23,644.80, marking no change in percentage terms.

Market Update at 3:50 PM: On Tuesday, benchmark indices concluded the session on a neutral note. Sensex ended nearly unchanged at 78,501.12, while Nifty finished flat at 23,644.80, marking no change in percentage terms. In the broader market, Nifty Midcap 150 gained 0.15 per cent to close at 21,141.20, and Nifty Smallcap 250 rose by 0.65 per cent, closing at 17,752.25. 

Market volatility, indicated by India VIX, surged by 3.39 per cent to settle at 14.45, signaling an increase in uncertainty.

Within the sectoral landscape, Nifty Oil & Gas, Nifty Pharma, and Nifty PSU Bank emerged as the top performers. Meanwhile, Nifty IT, Nifty Financial Services, and Nifty Realty underperformed.

Among stocks, BEL, ONGC, and Kotak Mahindra Bank were the major gainers, while Adani Enterprises, Tech Mahindra, and TCS were the prominent laggards.

The market breadth reflected a positive sentiment, with 1,779 stocks advancing against 1,050 stocks that declined.

Market Update at 2:45 PM: During the ongoing trading session, the markets recovered from the losses and are trading flat with the Sensex declining by just 0.11 per cent to 78,153.04, while the Nifty 50 marginally gained 0.01 per cent to trade at 23,647.55.

In the broader market, the Nifty Midcap 150 inched up by 0.18 per cent, and the Nifty Smallcap 250 advanced by 0.73 per cent. However, market volatility slightly increased, with the India VIX rising by 3.39 per cent to 14.45, indicating higher uncertainty.

Among the sectoral indices, Nifty Pharma, Nifty Oil & Gas, and Nifty Consumer Durables emerged as the outperformers. On the other hand, Nifty IT and Nifty Financial Services exhibited weak performance.

In the Nifty 50, the Top Gainers were BEL, ONGC, and Kotak Bank. Conversely, the major laggards included Adani Enterprises, Tech Mahindra, and Infosys.

The broader sentiment leaned positive, with 1,668 stocks advancing against 1,041 stocks declining on the NSE.

Market Update at 9:45 AM: On Tuesday, markets started on a negative note, with both Nifty and Sensex trading in the red. Sectoral indices displayed mixed trends, with Nifty FMCG and Nifty IT showing resilience, while Nifty Media and Nifty Realty lagged behind.

As of now, the Sensex has dropped by 0.61 per cent, hovering near 77,767.08, and Nifty 50 is down by 0.50 per cent, trading around 23,527.80. The broader indices also mirrored the decline, with the Nifty Midcap 150 slipping 0.76 per cent to 20,948.40 and the Nifty Smallcap 250 down by 0.62 per cent, trading close to 17,529.50.

India VIX rose by 3.04 per cent to 14.40, indicating a slight uptick in market volatility.

Within the sectoral indices, Nifty FMCG, Nifty Pharma, and Nifty IT emerged as the top-performing sectors, while Nifty Media and Nifty Realty were the underperformers.

Among individual stocks in the Nifty 50, BEL, KOTAKBANK, and ONGC were the leading gainers, while INFY, TCS, and TECHM were the Top Losers.

In the broader market, advances were outnumbered by declines, with 790 stocks gaining against 1,568 stocks that traded lower, reflecting a bearish sentiment.

Pre-Market Update at 8:15 AM: On Monday, Wall Street ended on a negative note as trading volumes remained thin during the holiday-shortened week. All three major US indices saw declines of about 1 per cent, with the Dow Jones, S&P 500, and Nasdaq Composite losing 0.97 per cent, 1.07 per cent, and 1.21 per cent, respectively.

The GIFT Nifty indicates a gap-down opening for the domestic market. Nifty futures were trading at 23,661.50, down 174.50 points or 0.7 per cent from Monday’s closing price as of 7:32 AM IST.

The US 10-year Treasury yield slipped 9 basis points to 4.54 per cent, while the 2-year Treasury yield dipped 1 basis point to 4.244 per cent in early Monday trade.

Oil prices edged higher in early trade. Brent crude rose 0.4 per cent to trade above Rs 74 per barrel, while US West Texas Intermediate crude climbed 0.7 per cent. Gains were supported by data showing China’s manufacturing activity expanded for the third consecutive month in December. However, slower growth and concerns over a supply glut next year are keeping traders cautious.

Foreign institutional investors (FIIs) were net sellers on December 30, offloading equities worth Rs 1,893 crore. Meanwhile, domestic institutional investors (DIIs) continued buying, with net purchases amounting to Rs 2,174 crore.

As of December 31, 2024, no stocks are under the F&O segment trading ban.

Disclaimer: The article is for informational purposes only and not investment advice.