Market Wrap: Sensex and Nifty close substantially higher with Nifty Auto among the top gainers!

On Thursday, Benchmark indices concluded trading day on a positive note as Sensex substantially gained by 1.61 per cent and closed at 75,418.04 level, while Nifty soared by 1.33 per cent and closed at 22,898.70 level.

Market Update at 3:40 PM: On Thursday, Benchmark indices concluded trading day on a positive note as Sensex substantially gained by 1.61 per cent and closed at 75,418.04 level, while Nifty soared by 1.33 per cent and closed at 22,898.70 level. Whereas the Broader market also experienced positive performance as Nifty Midcap closed higher by 0.43 per cent, while Nifty Smallcap surged by 0.18 per cent.

Market volatility, as indicated by India VIX, has slightly declined 0.41 per cent but is trading above the level of 21 reflecting heightened market volatility.

Nifty Auto, Nifty Bank and Nifty Financial Services closed positively while Nifty Pharma was the only major sector which underperformed.

Adani Enterprises, Adani Ports and L&T were among the top gainers while Sun Pharma, Power Grid and Hindalco were among the top losing stocks from the Nifty 50.

About 971 stocks were advancing as against to 1126 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 positive note with the Sensex trading significantly higher by 1.45 per cent, while Nifty gained by 1.46 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.44 per cent, while Nifty Smallcap has surged by 0.25 per cent.

India VIX is currently trading higher by 0.29 per cent, indicating a slight increase in market volatility.

Nifty Bank, Nifty Auto and Nifty PSU Bank are the major sectors which are trading positively while Nifty Pharma and Nifty Metal are among the top losers.

Adani Enterprises, L&T and Axis Bank are among the top gainers while Sun Pharma, Power Grid and Hindalco are among the top losing stocks from the Nifty 50.

About 1026 stocks are advancing as against 1074 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 12:35 PM In the current trading session benchmark indices trade substantially higher as Sensex has gained by 0.86 per cent, while Nifty has soared by 0.89 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.49 per cent, while Nifty Smallcap has surged by 0.31 per cent.

India VIX is marginally up by 0.13 per cent and is trading above the level of 21, indicating heightened market volatility.

European markets are heading for a slightly higher open on Thursday as traders digest the minutes of the last U.S. Federal Reserve meeting. European futures DAX, CAC and FTSE trades marginally higher by 0.09 per cent, 0.03 per cent and 0.1 per cent respectively.

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

Adani Enterprises, Axis Bank and L&T are among the top gainers while Sun Pharma, Power Grid and Hindalco are among the top losing stocks from the Nifty 50.

About 1060 stocks are advancing as against to 1020 stocks that are declining, thus indicating a slight 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 moderately higher by 0.54 per cent, while Nifty gained by 0.48 per cent. Similarly, in the broader indices Nifty Midcap experience gains of 0.18 per cent, while Nifty Smallcap has surged by 0.19 per cent.

India VIX is has slightly declined by 0.89 per cent but is still trading above the mark of 21, indicating heightened market volatility.

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

Top gainers in individual stocks are Axis Bank, L&T and SBI, whereas Sun Pharma, Power Grid and Hindalco are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1050 stocks advancing compared to 1025 stocks declining.

Market Update at 9:40 AM: On Thursday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.25 per cent, while Nifty also opened higher by 0.25 per cent. Similarly, in the broader indices Nifty Midcap opened on a higher note by 0.48 per cent, while Nifty Smallcap has surged by 0.54 per cent.

India VIX has slightly declined by 0.1 per cent but is still trading above the level of 21, indicating heightened market volatility.

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

L&T, Axis Bank and ONGC are among the top gainers while Power Grid, Sun Pharma and JSW Steel are among the top losing stocks from the Nifty 50.

About 1354 stocks are advancing as against to 622 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:50 AM: Overnight on Wednesday, Wall Street closed lower, and oil prices dropped as investors analysed the minutes from the U.S. Federal Reserve's latest policy meeting.

In extended trading, Nvidia Corp's shares surged over 4 per cent after the mega cap chipmaker projected quarterly revenue exceeding expectations.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a gain of 0.1 per cent or 22 points. Nifty futures are currently trading near the 22,666.10 mark.

Oil prices declined in Asian trading on Thursday, weighed down by ongoing concerns about prolonged high U.S. interest rates and an unexpected increase in inventories, which suggested less tight markets.

On May 22, 2024, foreign institutional investors (FII) offloaded shares worth Rs 686.04 crore, while domestic institutional investors (DII) bought shares worth Rs 961.91 crore.

Stocks that are banned for trading in the F&O segment on May 23, 2024, are ABCAPITAL, BALRAMCHIN, BANDHANBNK, BIOCON, HINDCOPPER, IDEA, IEX, INDIACEM, METROPOLIS, NATIONALUM, PEL, PNB and ZEEL.