Market Wrap: Benchmark indices register major declines with Nifty Media among the top losers!

In the latest market session, both the Sensex and Nifty closed with substantial losses of 1.26 per cent and 1.4 per cent respectively.

Market Update at 3:40 PM: In the latest market session, both the Sensex and Nifty closed with substantial losses of 1.26 per cent and 1.4 per cent respectively. The Nifty Midcap registered a significant 2.89 per cent drop, while the Nifty Smallcap ended the day with a 3.71 per cent decline.

Additionally, India VIX decreased by 1.34 per cent, reflecting a reduction in market volatility.

None of the major sectors showed positive trends, with Nifty Media, Nifty PSU Bank, and Nifty Metal ranking among the top decliners.

Notable gainers from the Nifty 50 included M&M and Bajaj Finance, while LTI Mindtree, Adani Enterprises, and Hindalco were among the leading losers.

Overall market sentiment appeared negative, with approximately 137 stocks advancing and 1,930 stocks declining.

Market Update at 2:20 PM: In the current market session, both the Sensex and Nifty have displayed declines of 0.47 per cent and 0.57 per cent respectively. Meanwhile, broader indices, including Nifty Midcap and Nifty Smallcap, have faced significant drops of 1.71 per cent and 2.11 per cent respectively.

Notably, India VIX has decreased by 4.37 per cent, signalling a substantial reduction in market volatility.

Currently, no major sector is in positive territory, with Nifty Media, Nifty Metal, and Nifty PSU Bank among the top decliners.

Among the top performers in the Nifty 50 index are ICICI Bank, M&M, and Bajaj Finance, while LTI Mindtree, Adani Enterprises, and Hindalco are among the leading decliners.

The broader market sentiment appears negative, with approximately 198 stocks advancing and 1,861 stocks declining.

Market Update at 12:35 PM: In the current market session, the Sensex and Nifty have both seen declines of 0.31 per cent and 0.41 per cent respectively, while broader indices, namely Nifty Midcap and Nifty Smallcap, have registered significant drops of 1.51 per cent and 1.61 per cent respectively.

Notably, India VIX has fallen by 5.04 per cent, signalling a substantial reduction in market volatility.

Meanwhile, European markets are poised for a mixed opening on Monday as investors remain vigilant amidst economic and geopolitical uncertainties. They are also looking forward to a busy week for earnings and the latest Monetary Policy decision from the European Central Bank. European futures for DAX, CAC, and FTSE are trading higher by 0.23 per cent, 0.46 per cent, and 0.25 per cent respectively.

At present, no major sector is exhibiting positive performance, with Nifty Media, Nifty Metal, and Nifty Realty ranking among the top losers.

Notable gainers in the Nifty 50 index include Bajaj Finance, M&M, and ICICI Bank, while LTI Mindtree, Adani Enterprises, and Adani Ports are among the top decliners.

The overall sentiment in the broader market appears negative, with approximately 222 stocks advancing and 1,830 stocks declining.

Market Update at 11:10 AM: In the latest market session, the Sensex and Nifty have both edged lower, showing declines of 0.21 per cent and 0.28 per cent respectively. The broader indices, Nifty Midcap and Nifty Smallcap, have experienced substantial declines, with losses of 1.22 per cent and 1.24 per cent respectively.

Market volatility has decreased significantly, as indicated by India VIX, which has dipped by 7.46 per cent, reflecting a notable reduction in market turbulence.

Among the major sectors, only Nifty Financial Services is trading with marginal positivity, while Nifty Media, Nifty Metal, and Nifty Realty are among the top sectors facing losses.

Notable gainers in the Nifty 50 index include Bajaj Finance, Dr. Reddy's Laboratories, and ICICI Bank, while Adani Enterprises, Adani Ports, and Tata Steel rank among the top decliners.

The broader market sentiment appears negative, with approximately 254 stocks advancing and 1,789 stocks declining.

Market Update at 9:55 AM: In the latest market session, the Sensex and Nifty initiated the trading day on a mixed note. Conversely, Nifty Midcap started with a 0.53 per cent decline, while Nifty Smallcap traded flat.

Market volatility significantly decreased, with India VIX witnessing a substantial 8.97 per cent drop, signalling reduced market turbulence.

Among the sectors, Nifty Financial Services, Nifty Bank, and Nifty Pharma showed notable gains, while Nifty Media, Nifty Metal, and Nifty PSU Bank were among the sectors experiencing losses.

In the Nifty 50 index, top gainers included Bajaj Finance, ICICI Bank, and Dr Reddy’s Laboratories, while Kotak Bank, Grasim, and Tata Steel were among the leading losers.

The broader market sentiment appeared negative, as approximately 460 stocks advanced, while 1475 stocks recorded declines.

Pre-Market Update at 8:00 AM: On Friday, US stocks experienced significant declines for both the day and the week due to concerns about the potential for more interest rate hikes and the escalating Israel-Hamas conflict.

The S&P 500 and Nasdaq each recorded losses of more than 1 per cent. Selling pressure was broad-based, with all 11 sectors of the S&P 500 ending lower. Technology and financial sectors were among the major contributors to the declines.

Specifically, the Dow Jones Industrial Average fell by 0.86 per cent, closing at 33,127.28. The S&P 500 registered a loss 1.26 per cent, concluding at 4,224.16. Meanwhile, the Nasdaq Composite saw a drop of 1.53 per cent, closing at 12,983.81.

On Monday, oil prices saw a decline as humanitarian convoys began to reach the Gaza Strip over the weekend, coinciding with diplomatic efforts to prevent the Israel-Palestine conflict involving Hamas from spreading to the broader oil-rich region. Brent crude futures dropped by 60 cents to USD 91.56 per barrel.

The GIFT Nifty trends suggest a favourable opening for the broader Indian index, showing an increase of 94.50 points, equivalent to 0.49 per cent. Nifty futures were observed trading near the 19,521 mark.

On October 20, foreign institutional investors (FII) bought shares worth Rs 456.21 crore, while domestic institutional investors (DII) purchased shares worth Rs 8.53 crore.

Stock that is banned for trading in the F&O segment on October 23, 2023, is IBULHSGFIN.