Market Wrap: Sensex and Nifty close lower with Nifty Media among the top gainers!

On Friday, Benchmark indices concluded trading day on a negative note as Sensex marginally declined by 0.01 per cent and closed at 75,410.39 level, while Nifty plunged by 0.05 per cent and closed at 22,957.10 level.

Market Update at 3:35 PM: On Friday, Benchmark indices concluded trading day on a negative note as Sensex marginally declined by 0.01 per cent and closed at 75,410.39 level, while Nifty plunged by 0.05 per cent and closed at 22,957.10 level. Similarly, the Broader market also experienced negative performance as Nifty Midcap closed slightly higher by 0.01 per cent, while Nifty Smallcap plunged by 0.17 per cent.

Market volatility, as indicated by India VIX, has slightly declined 1.92 per cent and is trading above the level of 21 reflecting heightened market volatility.

Nifty Media, Nifty Financial Services and Nifty Bank closed positively while Nifty FMCG, Nifty Realty and Nifty IT were the major sectors which underperformed.

HDFC Bank, L&T and Bharti Airtel were among the top gainers while Adani Ports, Tata Consumer Product and Tech Mahindra were among the top losing stocks from the Nifty 50.

About 806 stocks were advancing as against to 1303 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:30 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading higher by 0.11 per cent, while Nifty gained by 0.07 per cent. Whereas, in the broader indices Nifty Midcap has gained by 0.21 per cent, while Nifty Smallcap has slightly declined by 0.04 per cent.

India VIX is currently trading higher by 1.32 per cent, indicating a slight increase in market volatility.

Nifty Media, Nifty Financial Services and Nifty Auto are the major sectors which are trading positively while Nifty FMCG, Nifty Realty and Nifty IT are among the top losers.

HDFC Bank, Bharti Airtel and L&T are among the top gainers while Adani Ports, Tata Consumer Product and ITC are among the top losing stocks from the Nifty 50.

About 852 stocks are advancing as against 1252 stocks that are declining, thus indicating a negative 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 slightly gained by 0.03 per cent, while Nifty has marginally gained by 0.05 per cent. Whereas, in the broader indices Nifty Midcap has gained by 0.42 per cent, while Nifty Smallcap has surged by 0.7 per cent.

India VIX is marginally up by 0.77 per cent and is trading above the level of 21, indicating heightened market volatility.

European markets are heading for a lower open on Friday, mirroring a global trend as the U.S. interest rate outlook weighed on sentiment. European futures DAX, CAC and FTSE trades lower by 0.76 per cent, 0.16 per cent and 0.35 per cent respectively.

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

BPCL, L&T and Divi’s Laboratories are among the top gainers while Apollo Hospitals, Adani Ports and Tata Consumer Product are among the top losing stocks from the Nifty 50.

About 1057 stocks are advancing as against to 1039 stocks that are declining, thus indicating a neutral 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 marginally higher by 0.04 per cent, while Nifty gained by 0.03 per cent. Similarly, in the broader indices Nifty Midcap experience gains of 0.41 per cent, while Nifty Smallcap has surged by 0.53 per cent.

India VIX is has slightly gained by 1.38 per cent and is trading above the mark of 21, indicating heightened market volatility.

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

Top gainers in individual stocks are Adani Enterprises, Ultratech Cement and Bharti Airtel, whereas Apollo Hospitals, Tata Consumer Product and Shriram Finance are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1116 stocks advancing compared to 970 stocks declining.

Market Update at 9:35 AM: On Friday, Indian markets initiated the trading day on a positive note with the Benchmark indices making new all-time highs. Sensex opened higher by 0.13 per cent and made a new all-time high of 75,582.28 level, while Nifty also opened higher by 0.12 per cent and made a new all-time high of 23,004.05 level. Similarly, in the broader indices Nifty Midcap opened on a higher note by 0.2 per cent, while Nifty Smallcap has surged by 0.5 per cent.

India VIX has slightly surged by 0.88 per cent and is still trading above the level of 21, indicating heightened market volatility.

Nifty Media, Nifty Metal and Nifty PSU Bank are trading positively while Nifty Auto, Nifty FMCG and Nifty IT are among the top losers.

Hindalco, Divi’s Laboratories and Bajaj Finance are among the top gainers while Coal India, Hero Motocorp and Shriram Finance are among the top losing stocks from the Nifty 50.

About 1249 stocks are advancing as against to 719 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:45 AM: Overnight, U.S. stocks closed sharply lower as the initial excitement over Nvidia's Quarterly Results waned, and strong economic data heightened worries about a prolonged period of tight monetary policy.

In afternoon trading, all three major U.S. stock indexes gained downward momentum, finishing the session significantly in the red.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a gain of 0.09 per cent or 20 points. Nifty futures are currently trading near the 23,008 mark.

Oil prices stabilized on Friday but were on track for significant weekly losses due to persistent inflation concerns and high interest rates, raising doubts about sustained demand this year.

Brent oil futures for July fell 0.1 per cent to USD 81.31 a barrel, while West Texas Intermediate crude futures dropped 0.1 per cent to USD 76.81 a barrel. Brent reached its lowest level in two months, while WTI hit a three-month low.

On May 23, 2024, foreign institutional investors (FII) bought shares worth Rs 4,670.95 crore, while domestic institutional investors (DII) purchased shares worth Rs 146.51 crore.

Stocks that are banned for trading in the F&O segment on May 24, 2024, are ABCAPITAL, BALRAMCHIN, BANDHANBNK, HINDCOPPER, IEX, INDIACEM, METROPOLIS, NATIONALUM, PEL, PNB and ZEEL.