Market Wrap: Benchmark indices plummet while Nifty Pharma plunges over 1.5 per cent!

On Friday, Benchmark indices concluded the trading day on a negative note as Sensex substantially declined by 1.06 per cent and closed at 74,244.90 level, while Nifty also plunged by 1.03 per cent and closed at 22,519.40 level.

Market Update at 3:35 PM: On Friday, Benchmark indices concluded the trading day on a negative note as Sensex substantially declined by 1.06 per cent and closed at 74,244.90 level, while Nifty also plunged by 1.03 per cent and closed at 22,519.40 level. Similarly, the Broader market experienced negative performance as Nifty Midcap closed moderately lower by 0.62 per cent, while Nifty Smallcap plummeted by 0.62 per cent.

Market volatility, as indicated by India VIX, has surged by 4.41 per cent, reflecting an increase in market volatility.

All the major sectors underperformed while Nifty Pharma, Nifty PSU Bank, Nifty Media and Nifty FMCG were among the top losing sectors.

Divi’s Laboratories, Bajaj Auto and Tata Motors were among the top gainers while Sun Pharma, Maruti and Power Grid were among the top losing stocks from the Nifty 50.

About 630 stocks were advancing as against to 1485 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a negative note with the Sensex trading substantially lower by 0.89 per cent, while Nifty also plummeted by 0.87 per cent. Similarly, in the broader indices Nifty Midcap has moderately declined by 0.23 per cent, while Nifty Smallcap has declined by 0.14 per cent.

India VIX is currently trading higher by 3.62 per cent, indicating an increase in market volatility.

Currently there are no major sectors which are trading positively while Nifty Pharma, Nifty Media and Nifty FMCG are among the top losers.

Divi’s Laboratories, Bajaj Auto and Tata Motors are among the top gainers while Sun Pharma, Maruti and Cipla are among the top losing stocks from the Nifty 50.

About 720 stocks are advancing as against 1388 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 lower as Sensex has substantially declined by 0.67 per cent, while Nifty also plunged by 0.62 per cent. Similarly, in the broader markets Nifty Midcap has marginally gained by 0.09 per cent, while Nifty Smallcap has gained by 0.12 per cent.

India VIX is currently trading marginally higher by 2.03 per cent, indicating a slight increase in market volatility.

European markets are set to open higher on Friday as investors parse through U.K. Economic data and reflect on a somewhat murky U.S. Inflation outlook. European futures DAX, CAC and FTSE trade higher by 0.83 per cent, 0.17 per cent and 0.23 per cent respectively.

Nifty Realty, Nifty Auto and Nifty Energy are among the top gainers while Nifty Pharma, Nifty FMCG and Nifty Financial Services are among the top losers.

Eicher Motors, Tata Motors and Bajaj Auto are among the top gainers while Sun Pharma, Titan and Apollo Hospitals are among the top losing stocks from the Nifty 50.

About 867 stocks are advancing as against to 1243 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:11 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex declining by 0.47 per cent, while Nifty also declined by 0.41 per cent. Similarly, in the broader indices Nifty Midcap experiences moderate gains of 0.35 per cent, while Nifty Smallcap has surged by 0.44 per cent.

India VIX is trading higher by 2.33 per cent, indicating a slight increase in market volatility.

Nifty Energy, Nifty Auto and Nifty Metal are among the top gaining sectors while Nifty Pharma, Nifty Financial Services and Nifty Auto are among the top losers.

Top gainers in individual stocks are Divi’s Laboratories, Tata Motors and NTPC, whereas Sun Pharma, Titan and Shriram Finance are among the top losers in the Nifty 50.

The broader market sentiment is slightly negative, with 960 stocks advancing compared to 1117 stocks declining

Market Update at 9:35 AM: On Friday, Indian markets initiated the trading day on a negative note with Sensex opening moderately lower by 0.14 per cent, while Nifty also opened lower by 0.16 per cent. Similarly, in the broader indices Nifty Midcap opened higher by 0.11 per cent, while Nifty Smallcap opened moderately higher by 0.34 per cent.

India VIX has marginally surged by 2.09 per cent, indicating a slight increase in market volatility.

Nifty Energy, Nifty PSU Bank and Nifty Auto are among the top gainers while Nifty Pharma, Nifty FMCG and Nifty Financial Services are among the top losers.

NTPC, L&T and Tata Motors are among the top gainers while Sun Pharma, Grasim and JSW Steel are among the top losing stocks from the Nifty 50.

About 1100 stocks are advancing as against to 851 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:45 AM: US stocks finished higher on Thursday, led by a surge in tech momentum stocks, bolstered by fresh economic data that fuelled optimism about an ongoing slowdown in inflation. The Nasdaq, supported by rate-sensitive mega caps, notably outperformed. The S&P 500 ended the day up, while the Dow remained virtually flat.

Specifically, the Dow Jones Industrial Average slightly dropped by 2.43 points, or 0.01 per cent, to 38,459.08. Meanwhile, the S&P 500 rose by 38.42 points, or 0.74 per cent, to 5,199.06, and the Nasdaq Composite increased by 271.84 points, or 1.68 per cent, to 16,442.20.

Additionally, softer-than-expected Producer Prices Index (PPI) underscored the narrative that inflationary pressures are easing.

Trends in the GIFT Nifty suggest a promising opening for the Indian Benchmark indices, showing an increase of 117 points or 0.52 per cent. Nifty futures were observed trading at approximately 22,672.50.

Oil prices climbed in early trading on Friday due to escalating tensions in the Middle East following Iran's vow to retaliate against a suspected Israeli airstrike on its embassy in Syria, raising concerns about potential disruptions to oil supply from the region.

On April 10, 2024, foreign institutional investors (FII) bought shares worth Rs 2,778.17 crore, while domestic institutional investors (DII) bought shares worth Rs 163.36 crore.

Stocks that are banned for trading in the F&O segment on April 12, 2024, are BALRAMCHIN, EXIDEIND, HINDCOPPER, IDEA, INDIACEM, NATIONALUM, SAIL and ZEEL.