Market Wrap: Benchmark indices close on a higher note while broader indices outperformed!

On Friday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing moderately higher by 0.34 per cent closing at 71,106.96, while Nifty surged by 0.44 per cent closing at 21,349.40.

Market Update at 3:40 PM: On Friday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing moderately higher by 0.34 per cent closing at 71,106.96, while Nifty surged by 0.44 per cent closing at 21,349.40. Similarly, Broader indices also closed on a lower note with Nifty Midcap surging by 0.53 per cent, while Nifty Smallcap soared by 0.75 per cent.

Market volatility, as indicated by India VIX, has marginally declined by 0.36 per cent, reflecting a slight decrease in market volatility.

Nifty Realty, Nifty IT and Nifty Metal were among the top gainers, while Nifty Bank, Nifty PSU Bank and Nifty Financial Services are among the top losers.

Wipro, HCL Technologies and Hindalco were among the top gainers while Grasim, SBI and ICICI Bank were among the top losing stocks from the Nifty 50.

About 1384 stocks were advancing as against to 654 stocks that were declining, thus indicating a optimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade marginally higher with the Sensex surging by 0.21 per cent, while Nifty soared by 0.31 per cent. Whereas, Nifty Midcap has surged by 0.53 per cent, while Nifty Smallcap is also experiencing a notable gain of 0.77 per cent.

India VIX is currently trading marginally higher by 0.47 per cent, indicating a slight increase in market volatility.

Nifty Realty, Nifty Metal and Nifty IT are among the top gainers while Nifty Financial Services, Nifty PSU Bank and Nifty Bank are among the top losers as of now.

Wipro, Maruti and Tata Motors are among the top gainers while Grasim, Bajaj Finance and ICICI Bank are among the top losing stocks from the Nifty 50.

About 1310 stocks are advancing as against to 727 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade marginally higher with the Sensex surging by 0.19 per cent, while Nifty soared by 0.25 per cent. Similarly, Nifty Midcap has surged by 0.39 per cent, while Nifty Smallcap is also experiencing a notable gain of 0.57 per cent.

India VIX is currently trading marginally higher by 0.44 per cent, indicating a slight increase in market volatility.

European markets are likely to drift lower Friday’s opening as investors await the last key Inflation reading before Christmas. European futures DAX, FTSE and CAC trades lower by 0.09 per cent, 0.10 per cent and 0.19 per cent respectively.

Nifty Realty, Nifty Auto and Nifty Metal are among the top gainers while Nifty Financial Services, Nifty PSU Bank and Nifty Bank are among the top losers as of now.

Maruti, Divi’s Laboratories and Britannia are among the top gainers while Bajaj Finance, HDFC Bank and BPCL are among the top losing stocks from the Nifty 50.

About 1261 stocks are advancing as against to 782 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the current trading session benchmark indices trade moderately higher with the Sensex trading higher by 0.48 per cent, while Nifty also trades higher by 0.56 per cent. Whereas, Nifty Midcap has surged by 0.96 per cent, while Nifty Smallcap has soared by 1.32 per cent.

India VIX is currently trading marginally higher by 0.35 per cent, indicating a slight increase volatility.

Nifty Realty, Nifty Metal and Nifty Media are among the top gainers while currently there are no other major sectors underperforming.

Coal India, Tata Motors and Tata Steel are among the top gainers while Grasim, HDFC Bank and BPCL are among the top losing stocks from the Nifty 50.

About 1672 stocks are advancing as against to 360 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:40 AM: On Friday, Indian markets initiated the trading session on a mixed note with the Sensex opening marginally lower by 0.06 per cent, while Nifty opened moderately higher by 0.07 per cent. Similarly, Nifty Midcap opened on a higher note surging by 0.54 per cent, while Nifty Smallcap opened significantly higher by 1.05 per cent.

India VIX has marginally declined by 1.14 per cent, indicating a slight decrease in market volatility.

Nifty Metal and Nifty Realty and Nifty Pharma are among the top gaining sectors while Nifty Bank, Nifty Financial Services and Nifty IT are among the top losers.

Adani Ports, Coal India and Divi’s Laboratories are among the top gainers while Infosys, HDFC Bank and TCS are among the top losing stocks from the Nifty 50.

About 1601 stocks are advancing as against to 325 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: US stocks concluded Thursday's trading session on a positive note, recovering much of the losses from the previous day. The optimism stemmed from economic data suggesting a potential easing of monetary policy by the Federal Reserve, reigniting investor risk appetite.

As the session neared its end, the rally gathered momentum, with the S&P 500 and the Nasdaq both surging over 1 per cent.

Economic data revealed that the third-quarter US economic growth wasn't as robust as initially reported, and signs of strain in the tight labour market, considered a hurdle by the Fed in cooling inflation.

The Dow Jones Industrial Average saw an increase of 322.35 points, or 0.87 per cent, closing at 37,404.35. The S&P 500 gained 48.4 points, or 1.03 per cent, reaching 4,746.75, while the Nasdaq Composite added 185.92 points, or 1.26 per cent, settling at 14,963.87.

GIFT Nifty trends suggest a neutral to negative beginning for the benchmark indices in India, indicating a decline of 26.50 points or 0.12 per cent. Nifty futures are currently trading around the 21,393.50 level.

RBI Initiates 7-Day Variable Rate Repo Auction on December 22 to Address Liquidity Deficit

The Reserve Bank of India (RBI) declared on December 21 that it would conduct a seven-day variable rate repo auction, aiming for a specified amount of Rs 1.75 lakh crore on December 22. This decision comes in response to a significant liquidity deficit of around Rs 2.27 lakh crore in the banking system.

The central bank, considering prevailing and evolving liquidity conditions, has scheduled this repo auction, to occur from 10:30 am to 11:00 am. The funds' reversal is set to take place on December 29.

On December 21, oil prices declined by approximately USD 1 per barrel following Angola's announcement that it would withdraw from the Organization of the Petroleum Exporting Countries (OPEC). This decision has raised uncertainties about the effectiveness of the producer group's endeavours to bolster prices by restricting global supplies.

Brent futures dropped by 94 cents, or 1.18 per cent, settling at USD 78.76 per barrel. Simultaneously, US West Texas Intermediate crude experienced a decrease of 96 cents, or 1.29 per cent, closing at USD 73.26.

On December 21, 2023, foreign institutional investors (FII) offloaded shares worth Rs 1,636.19 crore, while domestic institutional investors (DII) bought shares worth Rs 1,464.70 crore.

Stocks that are banned for trading in the F&O segment on December 22, 2023, are ASHOKLEY, BALRAMCHIN, DELTACORP, HINDCOPPER, INDIACEM, MANAPPURAM, RBLBANK and SAIL.