Market Wrap: Benchmark indices close lower while Broader indices close higher!

On August 16, foreign institutional investors (FII) bought shares worth Rs 722.76 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,406.19 crore.

Market Update at 3:45 PM: The trading session concluded with both the Sensex and Nifty recording declines of 0.59 per cent and 0.51 per cent respectively. In a contrasting performance, Nifty Midcap posted a gain of 0.25 per cent, while Nifty Smallcap marginally edged higher by 0.14 per cent.

The India VIX saw a notable surge of 0.91 per cent, reflecting a slight increase in market volatility.

Nifty PSU Bank and Nifty Realty emerged as the top performing sectors, showcasing strength. However, Nifty IT, Nifty FMCG, and Nifty Energy faced challenges, positioning them among the top losers.

Adani Ports, Titan, and Adani Enterprises secured positions as top gainers within the Nifty 50. Conversely, LTIMindtree, ITC, and Power Grid encountered declines, marking them among the top losers.

The broader market sentiment remained slightly positive, with approximately 1006 advancing stocks compared to 949 declining stocks. This equilibrium indicated a cautious yet optimistic sentiment prevailing in the broader market context.

Market Update at 2:20 PM: Amid the latest market developments, both the Sensex and Nifty exhibited declines of 0.56 per cent and 0.55 per cent respectively. In contrast, Nifty Midcap displayed resilience, recording a 0.2 per cent gain, and Nifty Smallcap followed suit with a 0.21 per cent increase.

The India VIX experienced a notable surge of 1.81 per cent, signaling increased market volatility.

Among the sectors, Nifty PSU Bank stood out as the sole major performer, displaying strength. However, Nifty Media, Nifty FMCG, and Nifty Energy faced challenges, positioning them among the top losers.

Adani Ports, Titan, and Axis Bank led the gainers' list within the Nifty 50. Conversely, LTIMindtree, ITC, and Power Grid faced early declines, marking them among the top losers.

Broader market sentiment leaned slightly towards the negative side, as around 969 advancing stocks contrasted with 1008 declining stocks. This reflects a cautious sentiment prevailing in the broader market context.

Market Update at 12:40 PM: In the latest market update, both the Sensex and Nifty registered declines of 0.64 per cent and 0.61 per cent respectively. Nifty Midcap displayed resilience, advancing by 0.26 per cent, and Nifty Smallcap followed suit with a gain of 0.24 per cent.

European markets are poised for a lower opening on Thursday, driven by the US Federal Reserve's July meeting minutes revealing the possibility of future interest rate hikes. European futures DAX and FTSE are down by 0.44 per cent and 0.14 per cent respectively.

The India VIX experienced a significant surge of 2.80 per cent, indicating an increase in market volatility.

Sectoral performance showed Nifty PSU Bank and Nifty Realty as top gainers, while Nifty Media, Nifty FMCG, and Nifty Energy faced challenges.

Among the Nifty 50, Adani Ports, Titan, and Adani Enterprises are among the top gainers, while LTIMindtree, ITC, and Power Grid encountered declines.

Broader market sentiment was slightly positive, with around 1002 advancing stocks compared to 984 declining stocks, reflecting a cautious yet optimistic sentiment in the market.

Market Update at 11:20 PM: Both Sensex and Nifty are experiencing declines of 0.49 per cent and 0.5 per cent respectively. Conversely, Nifty Midcap demonstrated resilience by trading higher, up by 0.22 per cent, and Nifty Smallcap exhibited noteworthy strength, gaining 0.42 per cent.

The India VIX recorded a notable surge of 3.71 per cent, indicating an uptick in market volatility.

Notable sectoral dynamics saw Nifty PSU Bank, Nifty Realty, and Nifty Bank emerging as the top gainers. In contrast, Nifty IT, Nifty FMCG, and Nifty Energy faced early losses.

Adani Ports, Titan, and Axis Bank started the day on a positive note as top gainers within the Nifty 50. However, LTIMindtree, ITC, and Power Grid encountered early declines, marking them among the initial losers.

Broader market sentiment tilted slightly towards the positive side, with approximately 1207 advancing stocks compared to 764 declining stocks. This equilibrium reflected a mild positive sentiment prevailing in the broader market context.

Market Update at 9:30 AM: In the latest market opening, both the Sensex and Nifty indices have initiated the session with declines, registering decreases of 0.25 per cent and 0.27 per cent respectively.

Contrastingly, within the Nifty spectrum, the Nifty Midcap has showcased an upward trend, opening with a noteworthy gain of 0.47 per cent. Similarly, the Nifty Smallcap has started the session on a positive note, marking an increase of 0.52 per cent.

Adding to the landscape, the India VIX has witnessed a noticeable surge of 1.81 per cent, indicating a rise in market volatility.

Sector-wise, the Nifty PSU Bank, Nifty Media, and Nifty Auto segments have emerged as the top gainers, displaying positive momentum. Conversely, the Nifty FMCG, Nifty Energy, and Nifty Bank sectors are grappling with losses, positioning them among the top losers.

Zooming in on specific stock movements within the Nifty 50 index, Titan, Adani Ports, and Adani Enterprises have risen as top gainers. On the flip side, Cipla, LTIMindtree, and ITC are experiencing declines, placing them among the prominent losers.

Taking a broader perspective on market sentiment, approximately 1319 stocks are advancing, while 521 stocks are undergoing declines. This pronounced difference underscores a prevailing positive sentiment within the broader market landscape.

Pre-Market Update at 8:45 AM: Following two sessions of losses across the major US indexes, the after-hours actions mirror this trend. In the prior session, the S&P 500 recorded a decline of 0.76 per cent, the Dow decreased by 0.52 per cent, and the Nasdaq Composite dipped by 1.15 per cent. These declines resonated with investor apprehensions as officials indicated the possibility of further tightening to address inflation, as revealed in the central bank's July meeting minutes.

Oil prices showed minimal fluctuations on Wednesday due to the juxtaposition of concerns over China's struggling economy and anticipations of tighter supply in the US. Brent crude futures saw a slight increase of 27 cents, reaching USD 85.16 per barrel. The Dollar index experienced a marginal 0.04 per cent uptick in futures, trading at 103.37, while the dollar's value remained around Rs 83.20.

The GIFT Nifty points to a slightly negative commencement for the benchmark indices, showing a decrease of 46 points following the Nifty's previous close at 19,465 points on August 16. GIFT Nifty futures were positioned at 19,429 points.

On August 16, foreign institutional investors (FII) bought shares worth Rs 722.76 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,406.19 crore.

Stocks that are banned for trading in the F&O segment on August 17, 2023, are Chambal Fertilisers & Chemicals Ltd, Balrampur Chini Mills, Delta Corp, GNFC, Granules, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram, SAIL and Zee Entertainment.