Market Wrap: Sensex and Nifty conclude with declines while Nifty Media gains substantially!

On August 9, foreign institutional investors (FII) bought shares worth Rs 644.11 crore, while domestic institutional investors (DII) offloaded shares worth Rs 597.88 crore.

Market Update at 3:55 PM:  The trading day wrapped up with both the Sensex and Nifty registering losses of 0.47 per cent and 0.46 per cent respectively. Meanwhile, Nifty Midcap experienced a slight downtick of 0.08 per cent, and Nifty Smallcap saw a more substantial decline of 0.47 per cent.

The India VIX witnessed a surge of 2.33 per cent, indicating heightened market volatility.

Nifty Media, Nifty Metal, and Nifty Energy emerged as top gainers among sectors, displaying robust momentum. Conversely, Nifty FMCG, Nifty PSU Bank, and Nifty Financial Services faced challenges, emerging as top losers.

Indusind Bank, Adani Enterprises, and Adani Ports marked themselves as top gainers within the Nifty 50, showcasing strength. However, Asian Paints, Kotak Bank, and ITC encountered declines, positioning them among the top losers.

Broader market sentiment leaned towards the positive side, with approximately 1104 advancing stocks compared to 853 declining stocks. This indicated an overall positive sentiment prevailing in the broader market context.

Market Update at 12:50 PM: The trading session saw both the Sensex and Nifty encountering declines of 0.38 per cent and 0.35 per cent respectively. Amidst this, Nifty Midcap slightly edged up by 0.18 per cent, while Nifty Smallcap experienced a marginal 0.02 per cent dip.

The India VIX witnessed a notable surge of 4.31 per cent, indicating increased market volatility.

The Reserve Bank of India (RBI) maintained the repo rate at 6.50 per cent for the third consecutive time, while keeping the Real GDP growth projection steady at 6.5 per cent for FY24. Additionally, the CPI Inflation forecast for FY24 was revised to 5.4 per cent, up from the earlier 5.1 per cent.

Nifty Media, Nifty Metal, and Nifty Energy emerged as the top gainers among sectors, showcasing robust momentum. In contrast, Nifty FMCG, Nifty Bank, and Nifty Financial Services faced challenges with losses.

M&M, Adani Enterprises, and Adani Ports secured positions as top gainers within the Nifty 50, demonstrating strength. However, Asian Paints, Tata Motors, and ITC encountered declines, positioning them among the top losers.

Broader market sentiment appeared positive, with approximately 1044 advancing stocks contrasting with 925 declining stocks. This indicates an overall optimistic sentiment prevailing in the broader market context.

Market Update at 11:10 AM: The trading session witnessed notable declines as the Sensex and Nifty recorded substantial losses of 0.49 per cent and 0.46 per cent respectively. Amidst this, Nifty Midcap managed a minor uptick of 0.14 per cent, while Nifty Smallcap traded flat.

The India VIX experienced a remarkable surge of 5.39 per cent, indicating heightened market uncertainty.

Among sectors, Nifty Media, Nifty Metal, and Nifty Energy displayed strength as top gainers. Conversely, Nifty FMCG, Nifty Bank, and Nifty Financial Services encountered challenges, emerging as top losers.

BPCL, Adani Enterprises, and Adani Ports emerged as top gainers within the Nifty 50, showcasing their resilience. However, Asian Paints, Tata Motors, and Tata Consumer Product faced declines, positioning them among the top losers.

The broader market sentiment leaned towards the positive side, with around 1034 advancing stocks in contrast to 925 declining stocks. This signals a slight optimistic overall sentiment in the broader market context.

Market Update at 9:40 AM: The stock market commenced the trading session with a cautious tone, as the Sensex and Nifty initiated with declines of 0.27 per cent and 0.24 per cent respectively. In contrast, Nifty Midcap and Nifty Smallcap opened on a positive note, each recording gains of 0.2 per cent.

Notably, the India VIX witnessed a significant surge of 3.68 per cent, indicating a heightened level of market volatility.

Among the sectors, Nifty Media, Nifty Metal, and Nifty Energy emerged as the top gainers, showcasing early positive momentum. Conversely, Nifty IT, Nifty Bank, and Nifty Financial Services faced initial challenges with losses.

ONGC, Adani Enterprises, and Adani Ports marked themselves as top gainers within the Nifty 50, demonstrating their strength at the opening bell. Meanwhile, Asian Paints, Apollo Hospital and Britannia encountered losses, positioning them as early losers.

The broader market sentiment appeared positive, as around 1165 advancing stocks contrasted with 658 declining stocks. This suggests a prevailing optimistic sentiment in the broader market context.

Pre-Market Update at 8:05 AM: After a recent decline on Wall Street, the Dow Jones Industrial Average dropped roughly 0.54 per cent and the S&P 500 and Nasdaq Composite both decreased by 0.7 per cent and 1.17 per cent respectively. Traders are anticipating the July consumer price index (CPI) report, set to be released on Thursday. This report is expected to offer insights into the impact of the central bank's rate adjustments on persistent prices, potentially influencing the Fed's upcoming rate decision in September.

On Wednesday, oil prices reached new heights, with Brent crude attaining its highest value since April. This surge resulted from tighter supply due to output reductions by Saudi Arabia and Russia, counterbalancing concerns about sluggish demand from China and a report indicating increased U.S. crude inventories. Brent crude rose by 1.2 per cent, reaching a peak of USD 87.24. The Dollar index traded 0.24 per cent higher in futures at 102.44, and the dollar's value remained near Rs 82.84

The GIFT Nifty signals a slightly optimistic opening for the benchmark indices, showing a rise of 30 points following Nifty's 61-point increase to 19,632 points on August 9. GIFT Nifty futures are positioned at 19,624 points.

On August 9, foreign institutional investors (FII) bought shares worth Rs 644.11 crore, while domestic institutional investors (DII) offloaded shares worth Rs 597.88 crore.

Stocks that are banned for trading in the F&O segment on August 10, 2023, are Chambal Fertilisers & Chemicals Ltd, Balrampur Chini Mills, Delta Corp, Hindustan Copper and Indiabulls Housing Finance.