Broader markets outperform as midcap and smallcap stocks shine

Sensex up by 0.35 per cent and the Nifty up by 0.25 per cent.

Market Update at 1:40 AM: During the ongoing trading session, benchmark indices are showing a positive trend, with the Sensex up by 0.35 per cent and the Nifty up by 0.25 per cent. However, in the broader market, the Nifty Midcap rose by 0.86 per cent, while the Nifty Smallcap rose by 0.73 per cent.

India VIX rose by 0.94 per cent and is trading around the mark of 14.50, indicating a slight rise in market volatility.

In the sectoral landscape Nifty PSU Bank, Nifty Media and Nifty Fin Service emerged as Top Gainers, Nifty Energy, Nifty Auto and Nifty Metal sectors are underperforming.

Top gainers in individual stocks are HDFCLIFE, HDFCBANK, and APOLLOHOSP while, BHARTIARTL, CIPLA and POWERGRID is among the Top Losers in the Nifty 50.

The broader market sentiment is positive, with 1,510 stocks advancing compared to 856 stocks declining.

Market Update at 9:40 AM: On Wednesday, markets opened on a positive note, with both Nifty and Sensex showing positive movement. The Nifty IT index led the gains, while no sector lagged behind.

As of now, the Sensex is up by 0.37 per cent, hovering around 81,140, and Nifty is up by 0.38 per cent, trading near 24,550. However, in the broader market, the Nifty Midcap rose about 0.55 per cent to about 57,820, and the Nifty Smallcap is up by 0.81 per cent, trading near 19,150.

India VIX is down by 0.54 per cent, trading at 14.62, indicating slight fall in market volatility.

Within the sectoral landscape Nifty IT, Nifty Media, and Nifty PSU Bank sector is among the Top Gainers while no sector is underperforming.

HDFCLIFE, SBILIFE, and WIPRO are among the top gainers within the Nifty 50 while BHARTIARTL, CIPLA, and RELIANCE are among the Top Losers.

About 1,859 stocks are advancing as against to 374 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM: The S&P 500 and Nasdaq reached record highs on Tuesday, driven by continued gains in tech-related stocks, while investors awaited upcoming jobs data. However, the Dow ended the day with a slight decline.

The Dow Jones Industrial Average dipped by 76.47 points, or 0.17 per cent, closing at 44,705.53. Meanwhile, the S&P 500 added 2.73 points, or 0.05 per cent, to settle at 6,049.88, and the Nasdaq Composite rose by 76.96 points, or 0.40 per cent, finishing at 19,480.91.

The GIFT Nifty is trading slightly flat, indicating a flat to negative start for the day. Nifty futures were trading at 24,534.00.

The U.S. 10-year Treasury yield stands at 4.226 per cent, while the 2-year bond yield at 4.173 per cent.

Brent crude stayed near $73.7 and WTI around $70 on Wednesday after a 2.7 per cent rise, as OPEC+ considered delaying output hikes and the US imposed new sanctions on Iranian oil. However, US crude inventories rose by 1.2 million barrels, against expectations of a drawdown.

On December 3 2024, foreign institutional investors (FII) bought shares worth Rs 3,664 crore, while domestic institutional investors (DII) sold shares worth Rs 250 crore.

Stocks that are banned for trading in the F&O segment on December 4, 2024, are GRANULES

MANAPPURAM, RBLBANK.

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