Market Wrap: Benchmark indices reach new highs while Nifty Smallcap outperforms!

On Thursday, Benchmark indices concluded the trading day on a higher note as Sensex closed marginally higher by 0.05 per cent after making a new all-time high of 74,245.17 level, while Nifty also gained by 0.09 per cent and made a new record high of 22,525.65 level.

Market Update at 3:40 PM: On Thursday, Benchmark indices concluded the trading day on a higher note as Sensex closed marginally higher by 0.05 per cent after making a new all-time high of 74,245.17 level, while Nifty also gained by 0.09 per cent and made a new record high of 22,525.65 level. Similarly, the Broader market experienced substantial gains as Nifty Midcap closed moderately higher by 0.22 per cent, while Nifty Smallcap closed significantly higher by 0.85 per cent.

Market volatility, as indicated by India VIX, has plunged by 4.41 per cent, reflecting a decrease in market volatility.

Nifty Media, Nifty Metal and Nifty FMCG were among the top gainers while Nifty Energy, Nifty Bank and Nifty Auto were among the top losers.

Tata Steel, Tata Consumer Product and Bajaj Auto were among the top gainers while M&M, BPCL and Reliance were among the top losing stocks from the Nifty 50.

About 1423 stocks were advancing as against to 846 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:05 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading moderately higher by 0.1 per cent, while Nifty trades higher by 0.15 per cent. Similarly, in the broader indices Nifty Midcap surged by 0.29 per cent, while Nifty Smallcap soars by 0.85 per cent.

India VIX is currently trading lower by 2.99 per cent, indicating a decrease in market volatility.

Nifty Media, Nifty Metal and Nifty FMCG are among the top gainers, while Nifty Auto, Nifty Energy and Nifty Bank are among the top losers.

Tata Steel, Bajaj Auto and Tata Consumer Product are among the top gainers while M&M, BPCL and Reliance are among the top losing stocks from the Nifty 50.

About 1499 stocks are advancing as against to 764 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade higher with the Sensex marginally surging by 0.08 per cent, while Nifty also gained by 0.1 per cent. Similarly, the broader indices experience substantial gains as Nifty Midcap has surged by 0.5 per cent, while Nifty Smallcap has soared by 0.84 per cent.

India VIX is currently trading lower by 1.52 per cent, indicating a slight decrease in market volatility.

European markets are heading for a flat to lower open ahead of the European Central Bank’s policy meeting on Thursday. European futures DAX, CAC and FTSE trade lower by 0.16 per cent, 0.09 per cent 0.03 per cent respectively.

Nifty Media, Nifty Metal and Nifty Pharma are among the top gainers, while Nifty Energy and Nifty Bank are among the top losers.

Bajaj Auto, Tata Motors and JSW Steel are among the top gainers while M&M, BPCL and SBI Life are among the top losing stocks from the Nifty 50.

About 1529 stocks are advancing as against to 736 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:25 AM: In the ongoing trading session, benchmark indices are trading on a higher note, with Sensex trading marginally higher by 0.11 per cent while Nifty trades higher by 0.11 per cent. Similarly, in the broader indices Nifty Midcap experiences a moderate gain of 0.56 per cent, while Nifty Smallcap soars by 0.91 per cent.

India VIX is trading marginally lower by 1.46 per cent, indicating a slight decrease in market volatility.

Nifty Media, Nifty Metal and Nifty IT are among the top gaining sectors while Nifty Energy, Nifty Auto and Nifty Bank among the top losers.

Top gainers in individual stocks are Bajaj Auto, JSW Steel and UPL, whereas M&M, SBI Life and BPCL are among the leading losers in the Nifty 50.

The broader market sentiment is positive, with 1592 stocks advancing compared to 661 stocks declining.

Market Update at 9:35 AM: On Thursday, Indian markets initiated the trading day on a slight positive note witg Sensex opening marginally higher by 0.01 per cent, while Nifty also opened higher by 0.04 per cent. Similarly, in the broader indices Nifty Midcap opened moderately higher by 0.29 per cent, while Nifty Smallcap also opened higher by 0.49 per cent.

India VIX has marginally surged by 0.02 per cent, indicating a slight increase in market volatility.

Nifty Metal, Nifty Media and Nifty PSU Bank are among the top gainers while Nifty Auto, Nifty IT and Nifty Energy are among the top losers.

JSW Steel, Bajaj Finance and Tata Steel are among the top gainers while M&M, BPCL and ICICI Bank are among the top losing stocks from the Nifty 50.

About 1525 stocks are advancing as against to 570 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: On Wednesday, Wall Street mirrored the positive performance of global equities, with the benchmark US Treasury yield declining to a one-month low. Federal Reserve Chair Jerome Powell's remarks reassured investors, indicating potential rate cuts this year despite ongoing inflation concerns.

The Dow Jones Industrial Average climbed 75.86 points, or 0.2 per cent, reaching 38,661.05. Meanwhile, the S&P 500 rose by 26.11 points, or 0.51 per cent, to 5,104.76, and the Nasdaq Composite added 91.96 points, or 0.58 per cent, to 16,031.54.

The GIFT Nifty is poised for a promising opening in benchmark indices, showing an increase of 55.50 points or 0.25 per cent. Nifty futures are currently trading near the 22,646.50 level.

Oil prices surged approximately 2 per cent on Wednesday, buoyed by several factors including a smaller-than-anticipated increase in US crude inventories, significant withdrawals from distillate and gasoline stockpiles, and statements from the Federal Reserve chief affirming the expectation of US interest rate cuts later in the year.

The prospect of lower interest rates potentially boosting economic growth could lead to increased demand for oil.

Brent futures climbed USD 1.65, or 2 per cent, reaching USD 83.69 a barrel, while US West Texas Intermediate (WTI) crude jumped USD 2.07, or 2.7 per cent, to USD 80.22. Brent was poised for its first daily gain in five days.

On March 06, 2024, foreign institutional investors (FII) bought shares worth Rs 2,766.75 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,149.88 crore.

Stock that is banned for trading in the F&O segment on March 07, 2024, is MANAPPURAM, MGL and ZEEL.