Benchmark indices decline with Nifty Financial Services among the top losers!
On Friday, Indian markets opened on a negative note, with Nifty and Sensex experiencing significant losses while, the Broader indices displayed positive performance, making new highs.
Market Update at 9:35 AM: On Friday, Indian markets opened on a negative note, with Nifty and Sensex experiencing significant losses while, the Broader indices displayed positive performance, making new highs. Nifty Pharma emerged as the top gainer, while Nifty Financial Services experienced the largest losses.
The Sensex is trading down by 0.67 per cent trading below the 79,600 mark while the Nifty has also plunged by 0.51 per cent and is trading below the 24,200 level. Whereas, in the broader, the Nifty Midcap gained by 0.07 per cent after making an all-time high at 56,727.55 level while the Nifty Smallcap surged by 0.41 per cent and made a record high at 18,894.95 mark.
India VIX has slightly gained by 0.47 per cent and is trading around the mark of 13, indicating marginal increase in market volatility.
Within the sectoral landscape Nifty Pharma, Nifty FMCG and Nifty IT were among the top gainers while Nifty Financial Services, Nifty Bank and Nifty Realty are the sectors which are underperforming.
Cipla, Divi’s Laboratories and Bajaj Auto are among the top gainers within the Nifty 50 while HDFC Bank, M&M and Tata Steel are among the top losers.
About 1215 stocks are advancing as against to 970 stocks that are declining, thus indicating a positive sentiment in the broader market.
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Pre-Market Update at 8:25 AM: U.S. markets were closed on Thursday for Independence Day.
On Friday, the 10-year Treasury yield was up 27 basis points at 4.37 per cent, and the 2-year yield rose by 4 basis points to 4.70 per cent.
The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a slight decline of 0.08 per cent or 20 points. Nifty futures are currently trading near the 24,375.20 mark.
Oil prices edged up in Asian trading on Friday, reaching a two-month high, driven by optimism over increased summer demand and potential supply disruptions.
Brent crude futures for September delivery increased by 0.1 per cent to USD 87.55 per barrel, while West Texas Intermediate crude futures also rose by 0.1 per cent to USD 83.14 per barrel.
On July 04, 2024, foreign institutional investors (FII) bought shares worth Rs 2,575.85 crore, while domestic institutional investors (DII) offloaded shares worth Rs 2,375.18 crore.
Stocks that are banned for trading in the F&O segment on July 05, 2024, are ABFRL, BANDHANBNK, HINDCOPPER, INDIACEM and PEL.