Market Wrap: Benchmark indices surged while Nifty Smallcap soared over 3 per cent!

On Thursday, Benchmark indices concluded trading day on a positive note as Sensex significantly gained by 0.93 per cent and closed at 75,074.51 level, while Nifty gained by 0.89 per cent and closed at 22,821.40 level.

Market Update at 3:40 PM: On Thursday, Benchmark indices concluded trading day on a positive note as Sensex significantly gained by 0.93 per cent and closed at 75,074.51 level, while Nifty gained by 0.89 per cent and closed at 22,821.40 level. Similarly, the Broader market also experienced significant gains as Nifty Midcap closed higher by 2.24 per cent, while Nifty Smallcap soared by 3.29 per cent.

Market volatility, as indicated by India VIX, has declined by 12.15 per cent and is trading around the level of 16 reflecting significant decrease in market volatility.

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

HCL Technologies, Tech Mahindra and SBI Life were among the top gainers while on the other hand Hindalco, Hero Motocorp and Hindustan Unilever were among the top losers.

About 1837 stocks were advancing as against to 283 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 0.62 per cent, while Nifty surged by 0.63 per cent. Similarly, in the broader indices Nifty Midcap has soared by 2.04 per cent, while Nifty Smallcap has gained by 3.12 per cent.

India VIX is currently trading significantly lower by 9.44 per cent and is trading around the level of 17 indicating decreased market volatility.

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

HCL Technologies, Shriram Finance and Tech Mahindra are among the top gainers while Hindalco, Hindustan Unilever and M&M are among the top losing stocks from the Nifty 50.

About 1841 stocks are advancing as against 291 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM In the current trading session benchmark indices trade on a positive note as Sensex has significantly gained by 0.75 per cent, while Nifty has also surged by 0.78 per cent. Similarly, in the broader indices Nifty Midcap has soared by 2.26 per cent, while Nifty Smallcap has gained by 3.13 per cent.

India VIX is down by 7.78 per cent and is trading around the level of 17, indicating decrease in market volatility.

European markets are expected to open higher on Thursday, with traders anticipating that ECB will cut borrowing costs for the Euro area for the first time since September 2019. European futures DAX, CAC and FTSE trades higher by 0.34 per cent, 0.35 per cent and 0.14 per cent respectively.

Within the sectoral landscape Nifty Realty, Nifty Media, Nifty PSU Bank and Nifty Energy are among the top gainers while Nifty FMCG and Nifty Pharma are the only major sectors which are underperforming as of now.

Shriram Finance, SBI and HCL Technologies are among the top gainers within the Nifty 50 while, Hindustan Unilever, Hero Motocorp and M&M are among the top losers.

About 1892 stocks are advancing as against to 242 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading substantially higher by 1.14 per cent, while Nifty gained by 1.21 per cent. Similarly, in the broader indices Nifty Midcap experience significant gains of 2.76 per cent, while Nifty Smallcap has soared by 3.83 per cent.

India VIX is has declined by 8.76 per cent and is trading around the mark of 17, indicating decreased market volatility.

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

Top gainers in individual stocks are Shriram Finance, NTPC and ONGC, whereas Hindustan Unilever, Hero Motocorp and Divi’s Laboratories are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1941 stocks advancing compared to 185 stocks declining.

Market Update at 9:45 AM: On Thursday, 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 0.55 per cent. Similarly, in the broader indices Nifty Midcap opened significantly higher with a gain of 2.04 per cent, while Nifty Smallcap has soared by 2.73 per cent.

India VIX has declined by 5.92 per cent and is trading around the mark of 17, indicating decreased market volatility.

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

NTPC, ONGC and Coal India are among the top gainers within the Nifty 50 while, Hero Motocorp, Hindustan Unilever and Divi’s Laboratories are among the top losers.

About 1863 stocks are advancing as against to 188 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:45 AM: The S&P 500 and Nasdaq indexes reached record closing highs on Wednesday, driven primarily by technology stocks, as markets processed economic data that could support the anticipated start of the Federal Reserve's policy easing cycle.

The US 10-year Treasury yields increased by 18 basis points to 4.28 per cent, while the US 2-year bond yield rose by 9 basis points to 4.72 per cent.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a decline of 0.17 per cent or 37 points. Nifty futures are currently trading near the 22,584 mark.

Oil prices increased in early Asian trading on Thursday, fuelled by rising expectations of a September interest rate cut by the Federal Reserve and a market rebound from a selloff caused by growing U.S. inventories and an OPEC plan to boost supply.

Brent crude futures climbed 27 cents, or 0.34 per cent, to USD 78.68 a barrel, while U.S. West Texas Intermediate crude futures rose 36 cents, or 0.49 per cent, to USD 74.43.

On June 05, 2024, foreign institutional investors (FII) offloaded shares worth Rs 5,656.26 crore, while domestic institutional investors (DII) bought shares worth Rs 4,555.08 crore.

Stock that is banned for trading in the F&O segment on June 06, 2024 is ZEEL.