Weak market opening: Nifty Midcap and Smallcap drop over 1 per cent!
Sensex is down by 0.19 per cent, hovering around 78,520, and Nifty is down by 0.36 per cent, trading near 23,800.
Market Update at 9:35 AM: On Wednesday, markets opened on a negative note, with both Nifty and Sensex showing negative movement. No sector led the gains and Nifty Auto was the biggest laggard.
As of now, the Sensex is down by 0.19 per cent, hovering around 78,520, and Nifty is down by 0.36 per cent, trading near 23,800. However, in the broader market, the Nifty Midcap declined about 1.14 per cent to about 54,625, and the Nifty Smallcap is down by 1.40 per cent, trading near 17,740.
India VIX up by 2.60 per cent and is trading at 14.97, indicating a rise in market volatility.
Within the sectoral landscape no sector is among the Top Gainers while Nifty Auto, Nifty Media and Nifty Pharma is underperforming.
NTPC, BHARTIARTL, and SBILIFE are among the top gainers within the Nifty 50 while BEL, HEROMOTOCO, and M&M are among the Top Losers.
About 349 stocks are advancing as against to 1,915 stocks that are declining, thus indicating a negative sentiment in the broader market.
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Pre-Market Update at 8:30 AM: Wall Street's main indexes dipped on Tuesday as investors locked in gains from the recent post-election rally and awaited U.S. inflation data.
The Dow Jones Industrial Average dropped 382.15 points, or 0.86 per cent, to 43,910.98. The S&P 500 slipped 17.36 points, or 0.29 per cent, to 5,983.99, while the Nasdaq Composite edged down 17.36 points, or 0.09 per cent, to 19,281.40.
The GIFT Nifty is trading lower, indicating a flat to negative start for the day. Nifty futures were trading at 23,933.90.
The U.S. 10-year Treasury yield stands at 4.429 per cent, while the 2-year bond yield at 4.347 per cent.
Brent crude remained below $72 per barrel and WTI around $68 on Wednesday, near a two-week low. OPEC cut its 2024 oil demand forecast for the fourth time, citing China’s economic slowdown. Concerns over potential new U.S. tariffs on Chinese goods and a possible surplus by 2025 due to rising non-OPEC supply and OPEC’s output plans also weighed on the market.
On November 12 2024, foreign institutional investors (FII) sold shares worth Rs 3,024 crore, while domestic institutional investors (DII) bought shares worth Rs 1,854 crore.
Stocks that are banned for trading in the F&O segment on November 13, 2024, are AARTIIND, ABFRL, GRANULES, HINDCOPPER, MANAPPURAM.
Disclaimer: The article is for informational purposes only and not investment advice.