Market Wrap: Frontline indices close on a higher note while broader indices outperformed!

On Thursday, Frontline indices concluded the day on a positive note as Sensex closed substantially higher by 0.69 per cent concluding at 71,847.57 level, while Nifty also closed significantly higher by 0.66 per cent concluding at 21,658.60.

Market Update at 3:45 PM: On Thursday, Frontline indices concluded the day on a positive note as Sensex closed substantially higher by 0.69 per cent concluding at 71,847.57 level, while Nifty also closed significantly higher by 0.66 per cent concluding at 21,658.60. Similarly Broader indices closed substantially higher with Nifty Midcap surging by 1.68 per cent, while Nifty Smallcap soared by 0.99 per cent.

Market volatility, as indicated by India VIX, has declined by 5.34 per cent, reflecting a decrease in market volatility.

Nifty Realty, Nifty Financial Services, Nifty Energy and Nifty Bank were among the top gainers, while no major sectors underperformed.

Bajaj Finance, Tata Consumer Product and NTPC were among the top gainers while BPCL, LTIMindtree and Dr Reddy’s Laboratories were among the top losing stocks from the Nifty 50.

About 1342 stocks were advancing as against to 722 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade higher with the Sensex surging by 0.7 per cent, while Nifty soared by 0.67 per cent. Similarly, Nifty Midcap has surged by 1.39 per cent, while Nifty Smallcap is also experiencing a substantial gain of 1.02 per cent.

India VIX is currently trading lower by 4.08 per cent, indicating a decline in market volatility.

Nifty Realty, Nifty Energy and Nifty FMCG are among the top gainers, while currently there are no major sectors which are currently underperforming.

NTPC, Bajaj Finance and Tata Consumer Product are among the top gainers while BPCL, LTIMindtree and Dr Reddy’s Laboratories are among the top losing stocks from the Nifty 50.

About 1404 stocks are advancing as against to 658 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 higher with the Sensex surging by 0.72 per cent, while Nifty soared by 0.67 per cent. Similarly, Nifty Midcap has surged by 1.21 per cent, while Nifty Smallcap is also experiencing a significant gain of 1.04 per cent.

India VIX is currently trading lower by 3.67 per cent, indicating a slight decrease in market volatility.

European stocks are heading for a mixed open on Thursday amid uncertainty among global markets over the trajectory for Central Bank rate cuts. European futures DAX, CAC and FTSE trade marginally higher by 0.05 per cent, 0.02 per cent and 0.09 per cent respectively.

Nifty Realty, Nifty Energy and Nifty PSU Bank are among the top gainers, while currently there are no major sectors which are currently underperforming.

NTPC, Bajaj Finance and Tata Consumer are among the top gainers while BPCL, LTIMindtree and HCL Technologies are among the top losing stocks from the Nifty 50.

About 1471 stocks are advancing as against to 596 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:15 AM: In the current trading session benchmark indices trade moderately higher with the Sensex trading higher by 0.67 per cent, while Nifty also trades higher by 0.61 per cent. Similarly, Nifty Midcap has significantly surged by 1.17 per cent, while Nifty Smallcap has also substantially soared by 0.95 per cent.

India VIX is currently trading marginally lower by 2.84 per cent, indicating a slight decline in market volatility.

Nifty Realty, Nifty Energy and Nifty Financial Services are among the top gainers while currently there are no major sectors which are currently underperforming.

NTPC, Bajaj Finance and Indusind Bank are among the top gainers while, BPCL, LTIMindtree and HCL Technologies are among the top losing stocks from the Nifty 50.

About 1540 stocks are advancing as against to 517 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:35 AM: On Thursday, Indian markets initiated the trading day on a positive note with the Sensex opening moderately higher by 0.44 per cent, while Nifty also opened moderately higher by 0.38 per cent. Similarly Nifty Midcap opened substantially higher by 0.87 per cent, while Nifty Smallcap also opened significantly higher by 0.89 per cent.

India VIX has marginally plunged by 1.51 per cent, indicating a slight decrease in market volatility.

Nifty Realty, Nifty Energy and Nifty Financial Services are among the top gaining sectors while Nifty Media is the only major sector which is currently underperforming.

Bajaj Finance, NTPC and Bajaj Finserv are among the top gainers while BPCL, Bajaj Auto and Dr Reddy’s Laboratories are among the top losing stocks from the Nifty 50.

About 1620 stocks are advancing as against to 342 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: U.S. stock futures showed minimal movement on Wednesday night following the fourth consecutive trading day decline of the Nasdaq Composite. Dow Jones Industrial Average futures experienced a modest rise of 35 points, or 0.09 per cent. S&P 500 futures and Nasdaq 100 futures edged higher by 0.09 per cent and 0.1 per cent, respectively.

Wall Street faced a challenging trading session, concluding Wednesday with losses across all three major averages. The 30-stock Dow witnessed a drop of nearly 300 points, equivalent to 0.8 per cent, while the S&P 500 also fell by 0.8 per cent. The Nasdaq Composite, dominated by tech stocks, recorded its fourth consecutive losing session, with a decline of over 1 per cent.

The GIFT Nifty suggests a slightly positive initiation for the benchmark indices, showcasing a gain of 33 points. GIFT Nifty futures settled at 21,613 points after reaching a peak of 21,716 points.

Oil prices experienced an increase on Wednesday following reports of a disruption to Libya's primary oilfield, adding to supply concerns amid tensions in the Red Sea. Brent crude saw a rise of 93 cents, or 1.23 per cent, reaching USD 76.82 per barrel. Meanwhile, US West Texas Intermediate crude futures gained 81 cents, or 1.15 per cent, trading at USD 71.15 per barrel.

Protests in Libya have led to a partial reduction in production at the Sharara oilfield, which produces 300,000 barrels per day. Earlier in the week, oil prices had surged by approximately USD 2 following attacks on vessels in the Red Sea by Houthi rebels over the weekend and the reported arrival of an Iranian warship on Monday. Concerns loom over the potential closure of crucial waterways for oil transportation and disruptions to trade flows in the event of a wider conflict.

However, the market experienced a decline in the previous session as optimism waned regarding early and aggressive U.S. interest rate cuts, ahead of the release of Federal Reserve meeting minutes and jobs data.

The Dollar index saw a 0.06 per cent decrease in futures, settling at 102.60, while the value of a single dollar remained close to Rs 83.29.

On January 03, 2024, foreign institutional investors (FII) offloaded shares worth Rs 666.34 crore, while domestic institutional investors (DII) sold shares worth Rs 862.98 crore.

Stocks that are banned for trading in the F&O segment on January 04, 2024, are BALRAMCHIN, DELTACORP, HINDCOPPER, IEX, NATIONALUM, SAIL and ZEEL.