Market Wrap: Benchmark indices surged over 3 per cent while Broader indices outperformed!

On Wednesday, Benchmark indices concluded trading day on a positive note as Sensex significantly gained by 3.2 per cent and closed at 74,382.24 level, while Nifty gained by 3.36 per cent and closed at 22,620.35 level.

Market Update at 3:45 PM: On Wednesday, Benchmark indices concluded trading day on a positive note as Sensex significantly gained by 3.2 per cent and closed at 74,382.24 level, while Nifty gained by 3.36 per cent and closed at 22,620.35 level. Similarly, the Broader market also experienced significant gains as Nifty Midcap closed higher by 4.3 per cent, while Nifty Smallcap soared by 3.81 per cent.

Market volatility, as indicated by India VIX, has declined by 29.40 per cent and is trading around the level of 18 reflecting decreased market volatility.

All the major sectors traded positively with Nifty Metal, Nifty Auto, Nifty Bank and Nifty FMCG among the top gainers.

Adani Ports, Indusind Bank, Hindalco and Hero Motocorp were among the top gainers while on the other hand there were no stocks which declined.

About 1635 stocks were advancing as against to 494 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading significantly higher by 2.63 per cent, while Nifty surged by 2.74 per cent. Similarly, in the broader indices Nifty Midcap has soared by 3.9 per cent, while Nifty Smallcap has gained by 5.55 per cent.

India VIX is currently trading significantly higher by 27.59 per cent and is trading above the level of 19 indicating decreased market volatility.

All the major sectors are trading positively with Nifty Metal, Nifty Auto, Nifty FMCG and Nifty Bank are the major sectors which are trading positively.

Indusind Bank, M&M and Hero Motocorp are among the top gainers while BPCL and L&T are among the top losing stocks from the Nifty 50.

About 1624 stocks are advancing as against 506 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 on a positive note as Sensex has significantly gained by 1.97 per cent, while Nifty has also surged by 2.01 per cent. Similarly, in the broader indices Nifty Midcap has soared by 2.8 per cent, while Nifty Smallcap has gained by 2.89 per cent.

India VIX is down by 26.86 per cent and is trading around the level of 19, indicating significant decrease in market volatility.

European markets are heading for a higher open on Wednesday, with investors in the region looking ahead to the next meeting of the European Central Bank. European futures DAX, CAC and FTSE trades higher by 0.48 per cent, 0.57 per cent and 0.31 per cent respectively.

Almost all the major sectors are trading positively with Nifty FMCG, Nifty Auto, Nifty Pharma and Nifty Media among the top gainers while Nifty PSU Bank is the only major sector which is underperforming as of now.

Hero Motocorp, M&M and Hindustan Unilever are among the top gainers within the Nifty 50 while, BPCL, L&T Power Grid Corporation are among the top losers.

About 1479 stocks are advancing as against to 647 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading substantially higher by 1.48 per cent, while Nifty gained by 1.66 per cent. Similarly, in the broader indices Nifty Midcap experience significant gains of 2.1 per cent, while Nifty Smallcap has soared by 2.2 per cent.

India VIX is has soared by 29.59 per cent and is trading around the mark of 18, indicating significant decrease in market volatility.

Nifty FMCG, Nifty Auto and Nifty Pharma are trading positively while Nifty PSU Bank and Nifty Realty are among the top losers.

Top gainers in individual stocks are Hero Motocorp, Hindustan Unilever and Britannia, whereas L&T, BPCL and Power Grid Corporation are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1401 stocks advancing compared to 709 stocks declining.

Market Update at 9:40 AM: On Wednesday, Indian markets initiated the trading day on a positive note with the Sensex opening moderately higher by 0.56 per cent, while Nifty also opened higher by 0.51 per cent. Whereas, in the broader indices Nifty Midcap opened moderately lower with a loss of 0.25 per cent, while Nifty Smallcap has plummeted by 0.39 per cent.

India VIX has declined by 18.46 per cent and is trading around the mark of 21, indicating decreased market volatility.

Within the sectoral landscape Nifty FMCG, Nifty Media and Nifty Pharma were among the top gainers while Nifty PSU Bank, Nifty Metal and Nifty Realty were among the top losers.

Hindustan Unilever, Britannia and Tata Consumer Product are among the top gainers within the Nifty 50 while, Hindalco, L&T and NTPC are among the top losers.

About 828 stocks are advancing as against to 1201 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:50 AM: U.S. stocks closed slightly higher on Tuesday after weaker-than-expected labour market data bolstered expectations for a Federal Reserve interest rate cut.

April data revealed that U.S. job openings dropped to their lowest level in over three years, indicating a loosening labour market that could prompt a Fed rate cut this year.

U.S. Treasury yields declined following the report, with the 10-year Treasury yield rising 22 basis points to 4.33 per cent, and the 2-year bond yield increasing by 13 basis points.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a decline of 0.22 per cent or 49 points. Nifty futures are currently trading near the 21,975 mark.

Oil prices continued to decline slightly in early Asian trading on Wednesday following an industry report that revealed increases in U.S. crude and fuel stockpiles, heightening concerns about demand growth.

Brent crude futures dropped 14 cents, or 0.2 per cent, to USD 77.38 a barrel, while U.S. West Texas Intermediate crude futures decreased 18 cents, or 0.3 per cent, to USD 73.07 a barrel.

Both contracts fell nearly a dollar on Tuesday and around USD 3 a barrel on Monday, pressured by OPEC's plans to boost supply from October despite recent signs of weakening demand growth.

On June 04, 2024, foreign institutional investors (FII) offloaded shares worth Rs 12,436.22 crore, while domestic institutional investors (DII) sold shares worth Rs 3,318.98 crore.

Stock that is banned for trading in the F&O segment on June 05, 2024 is ZEEL.