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

On Monday, Benchmark indices concluded trading day on a negative note as Sensex marginally declined by 0.03 per cent and closed at 75,390.50 level, while Nifty plunged by 0.11 per cent and closed at 22,932.45 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded trading day on a negative note as Sensex marginally declined by 0.03 per cent and closed at 75,390.50 level, while Nifty plunged by 0.11 per cent and closed at 22,932.45 level. Whereas the Broader market experienced positive performance as Nifty Midcap closed slightly higher by 0.64 per cent, while Nifty Smallcap plunged by 0.81 per cent.

Market volatility, as indicated by India VIX, has soared 6.98 per cent and is trading above the level of 23 reflecting heightened market volatility.

Nifty PSU Bank, Nifty Realty and Nifty Bank closed positively while Nifty Media, Nifty Energy and Nifty Metal were the major sectors which underperformed.

Divi’s Laboratories, Indusind Bank and Axis Bank were among the top gainers while Adani Enterprises, Wipro and Grasim were among the top losing stocks from the Nifty 50.

About 790 stocks were advancing as against to 1340 stocks that were declining, thus indicating a negative 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 higher by 0.6 per cent after making a new high of 76,009.68 level, while Nifty gained by 0.47 per cent and made a new high of 23,110.80 level. Similarly, in the broader indices Nifty Midcap has significantly gained by 1.13 per cent, while Nifty Smallcap has surged by 1.14 per cent.

India VIX is currently trading higher by 6.28 per cent and is trading above the level of 23 indicating heightened market volatility.

Nifty PSU Bank, Nifty Bank and Nifty Financial Services are the major sectors which are trading positively while Nifty Media, Nifty Energy and Nifty FMCG are among the top losers.

Divi’s Laboratories, Indusind Bank and Adani Ports are among the top gainers while Wipro, Adani Enterprises and Grasim are among the top losing stocks from the Nifty 50.

About 970 stocks are advancing as against 1152 stocks that are declining, thus indicating a negative 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 0.76 per cent and has made a new all-time high of 75,995.98 level, while Nifty has also gained by 0.62 per cent and has reached a new high of 23,208.35 level. Similarly, in the broader indices Nifty Midcap has gained by 0.67 per cent, while Nifty Smallcap has surged by 0.79 per cent.

India VIX is marginally up by 5.27 per cent and is trading above the level of 22, indicating heightened market volatility.

European markets may open lower on Monday with trading volumes likely to remain thin due to Memorial Day holiday. European futures DAX and FTSE trades slightly lower by 0.03 per cent and 0.35 per cent respectively, while CAC trades higher by 0.02 per cent.

Nifty PSU Bank, Nifty Bank and Nifty Financial Services are trading positively while Nifty Media, Nifty Energy and Nifty Metal are among the top losers.

Divi’s Laboratories, Indusind Bank and L&T are among the top gainers while Wipro, ONGC and Eicher Motors are among the top losing stocks from the Nifty 50.

About 957 stocks are advancing as against to 1164 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading moderately higher by 0.25 per cent, while Nifty gained by 0.15 per cent. Similarly, in the broader indices Nifty Midcap experience gains of 0.6 per cent, while Nifty Smallcap has surged by 0.71 per cent.

India VIX is has gained by 4.93 per cent and is trading above the mark of 22, indicating heightened market volatility.

Nifty IT, Nifty Bank and Nifty Financial Services are trading positively while Nifty Energy, Nifty Media and Nifty Auto are among the top losers.

Top gainers in individual stocks are Divi’s Laboratories, Adani Ports and HDFC Bank, whereas ONGC, Adani Enterprises and Wipro are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 945 stocks advancing compared to 1169 stocks declining.

Market Update at 9:35 AM: On Monday, 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 75,679.67 level, while Nifty also opened higher by 0.06 per cent and made an all-time high of 23,043.20 level. Similarly, in the broader indices Nifty Midcap opened on a higher note by 0.41 per cent, while Nifty Smallcap has surged by 0.85 per cent.

India VIX has surged by 5.31 per cent and is trading above the level of 22, indicating heightened market volatility.

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

Divi’s Laboratories, Adani Ports and Hindalco are among the top gainers while Adani Enterprises, Wipro and ONGC are among the top losing stocks from the Nifty 50.

About 1227 stocks are advancing as against to 887 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:40 AM: U.S. stocks rebounded on Friday from the sharp losses experienced the previous day, buoyed by news of an improving consumer outlook on inflation. This led the Nasdaq to its fifth consecutive week of gains, reaching a record closing high.

The Dow Jones Industrial Average rose by 4.33 points, or 0.01 per cent, to 39,069.59. The S&P 500 increased by 36.88 points, or 0.70 per cent, to 5,304.72, and the Nasdaq Composite advanced by 184.76 points, or 1.10 per cent, to 16,920.79.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a gain of 0.11 per cent or 25 points. Nifty futures are currently trading near the 23,109.5 mark.

Oil prices remained steady in early Asian trading on Monday as markets anticipated the OPEC+ meeting on June 2, where producers are expected to discuss maintaining voluntary output cuts for the remainder of the year.

The Brent crude July contract had inched up 11 cents to USD 82.23 a barrel, while the more-active August contract rose 13 cents to USD 81.97. U.S. West Texas Intermediate (WTI) crude futures also rose 13 cents, reaching USD 77.85 a barrel.

On May 23, 2024, foreign institutional investors (FII) offloaded shares worth Rs 944.83 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,320.32 crore.

Stocks that are banned for trading in the F&O segment on May 27, 2024, are BANDHANBNK, BIOCON, GNFC, HINDCOPPER, IDEA, INDIACEM, NATIONALUM, PEL and PNB.