Benchmark indices trade higher amidst mixed cues from European markets!

European markets were headed for a mixed open on Friday as investors digested the European Central Bank’s decision to cut interest rates yet again and awaited fresh economic data and earnings.

Market Update at 12:55 PM: In the current trading session benchmark indices have recovered from day’s low with Sensex trading higher by 0.31 per cent while Nifty also gained by 0.39 per cent. Similarly, in the broader indices Nifty Midcap has surged by 0.14 per cent, while Nifty Smallcap has plunged by 0.21 per cent.

India VIX has declined by 2.07 per cent and is trading around the mark of 13.11 indicating a slight decrease in market volatility.

European markets were headed for a mixed open on Friday as investors digested the European Central Bank’s decision to cut interest rates yet again and awaited fresh economic data and earnings. European futures DAX, CAC and FTSE are trading higher by 0.23 per cent, 0.31 per cent and 0.43 per cent respectively.

Within the sectoral landscape Nifty Metal, Nifty Bank and Nifty Financial Services are among the top gainers while Nifty IT, Nifty FMCG and Nifty Realty are among the major sectors which are underperforming.

Trent, M&M and Bharti Airtel are among the top gainers within the Nifty 50 while, Indusind Bank, Nestle India and Asian Paints are among the top losers.

About 1141 stocks are advancing as against to 1217 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

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Market Update at 9:45 AM: On Friday, Indian markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Bank led the gains, while Nifty FMCG was the biggest laggard.

As of now, the Sensex is down by 0.41 per cent, hovering around 80,650 mark, and Nifty is down by 0.4 per cent, trading near 24,650 level. Similarly, in the broader market, the Nifty Midcap plunged by 0.57 per cent to approximately 58,100 mark, and the Nifty Smallcap plummeted by 1.08 per cent, trading near 18,850 level.

India VIX surged by 1.33 per cent and is trading at 13.56, indicating a slight increase in market volatility.

Within the sectoral landscape Nifty Bank is the only top gainer while Nifty FMCG, Nifty Realty and Nifty IT are the sectors which are underperforming.

Wipro, Axis Bank, and Eicher Motors are among the Top Gainers within the Nifty 50 while Titan, Infosys, and Bajaj Auto are among the Top Losers.

About 457 stocks are advancing as against to 1838 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 8:00 AM: The Dow Jones Industrial Average rose on Thursday, marking its fourth record close in five sessions, driven by stronger-than-expected retail sales signalling a robust U.S. consumer and an optimistic forecast from TSMC boosting chipmaker stocks.

The S&P 500 slipped slightly by 1 point, or 0.02 per cent, to 5,841.47, while the Nasdaq Composite gained 6.53 points, or 0.04 per cent, closing at 18,373.61. The Dow climbed 161.35 points, or 0.37 per cent, to finish at 43,239.05.

The GIFT Nifty is trading lower, signalling a weak start for the day. Nifty futures were at 24,739.

The US 10-year Treasury yield declined by 10 basis points to 4.08 per cent, while the 2-year bond yield dropped by 27 basis points to 3.96 per cent.

Crude oil futures edged up on Friday, boosted by an unexpected decline in U.S. oil inventories and ongoing Middle East tensions. However, prices were on track for their largest weekly loss in over a month due to concerns about reduced demand.

On October 17, 2024, foreign institutional investors (FII) sold shares worth Rs 7,421.40 crore, while domestic institutional investors (DII) bought shares worth Rs 4,979.83 crore.

Stocks that are banned for trading in the F&O segment on October 18, 2024, are BANDHANBNK, CHAMBLFERT, GNFC, GRANULES, HINDCOPPER, IDFCFIRSTB, IEX, LTF, MANAPPURAM, NATIONALUM, PNB, RBLBANK, SAIL and TATACHEM.

Disclaimer: The article is for informational purposes only and not investment advice.