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

On Monday, Benchmark indices concluded the trading day on a negative note as Sensex substantially declined by 1.14 per cent and closed at 73,399.78 level, while Nifty also plunged by 1.1 per cent and closed at 22,272.50 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded the trading day on a negative note as Sensex substantially declined by 1.14 per cent and closed at 73,399.78 level, while Nifty also plunged by 1.1 per cent and closed at 22,272.50 level. Similarly, the Broader market experienced negative performance as Nifty Midcap closed significantly lower by 1.57 per cent, while Nifty Smallcap plummeted by 1.73 per cent.

Market volatility, as indicated by India VIX, has surged by 7.91 per cent, reflecting an increase in market volatility.

All the major sectors underperformed with Nifty Media, Nifty PSU Bank, Nifty Financial Services and Nifty Bank among the top losing sectors.

ONGC, Hindalco and Maruti were among the top gainers while Shriram Finance, Bajaj Finserv and Wipro were among the top losing stocks from the Nifty 50.

About 288 stocks were advancing as against to 1842 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a negative note with the Sensex trading substantially lower by 0.83 per cent, while Nifty also plummeted by 0.8 per cent. Similarly, in the broader indices Nifty Midcap has significantly declined by 1.31 per cent, while Nifty Smallcap has plunged by 1.08 per cent.

India VIX is currently trading higher by 6.46 per cent, indicating an increase in market volatility.

Nifty Energy is the only major sector which is currently trading positively while Nifty Media, Nifty IT and Nifty Financial Services are among the top losers.

ONGC, Hindalco and Nestle India are among the top gainers while Shriram Finance, L&T and Bajaj Finserv are among the top losing stocks from the Nifty 50.

About 342 stocks are advancing as against 1788 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 lower as Sensex has substantially declined by 0.64 per cent, while Nifty also plunged by 0.6 per cent. Similarly, in the broader markets Nifty Midcap has significantly plunged by 1.03 per cent, while Nifty Smallcap has plummeted by 0.88 per cent.

India VIX is currently trading marginally higher by 2.03 per cent, indicating a slight increase in market volatility.

European markets are heading for a mixed open on Monday amid heightened geopolitical tensions following Iran’s massive drone and missile attack on Israel Saturday night. European futures DAX, CAC and FTSE trade higher by 0.46 per cent, 0.28 per cent and 0.46 per cent respectively.

Nifty Energy and Nifty Metal are among the top gainers while Nifty Media, Nifty IT and Nifty PSU Bank are among the top losers.

ONGC, Hindalco and Nestle India are among the top gainers while Shriram Finance, Tata Consumer Product and ICICI Bank are among the top losing stocks from the Nifty 50.

About 355 stocks are advancing as against to 1765 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:05 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex plummeting by 0.56 per cent, while Nifty also declined by 0.52 per cent. Similarly, in the broader indices Nifty Midcap experiences substantial declines of 0.98 per cent, while Nifty Smallcap has plunged by 1.08 per cent.

India VIX is trading higher by 4.94 per cent, indicating an increase in market volatility.

Nifty Metal and Nifty Energy are among the top gaining sectors while Nifty PSU Bank, Nifty Media and Nifty IT are among the top losers.

Top gainers in individual stocks are ONGC, Hindalco and JSW Steel, whereas Tata Consumer Product, Hindustan Unilever and Tata Motors are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 305 stocks advancing compared to 1804 stocks declining.

Market Update at 9:35 AM: On Monday, Indian markets initiated the trading week on a negative note with Sensex opening substantially lower by 0.98 per cent, while Nifty also opened lower by 1 per cent. Similarly, in the broader indices Nifty Midcap opened significantly lower by 2.29 per cent, while Nifty Smallcap also opened substantially lower by 3.21 per cent.

India VIX has surged by 7.5 per cent, indicating an increase in market volatility.

Currently all the major sectors are underperforming while Nifty Media, Nifty PSU Bank and Nifty Realty are among the top losers.

Hindalco, ONGC and TCS are among the top gainers while BPCL, Coal India and Tata Motors are among the top losing stocks from the Nifty 50.

About 99 stocks are advancing as against to 1892 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:00 AM: US stocks fell sharply on Friday amidst a mixed start to the earnings season and rising concerns over potential tensions in the Middle East, driving investors towards safer investments.

The S&P 500 dropped 1.5 per cent, marking its worst week since a major rally began in October on Wall Street. The Dow Jones Industrial Average declined by 475 points, or 1.2 per cent, while the Nasdaq composite decreased by 1.6 per cent, reversing gains from its previous record high.

Final figures showed the S&P 500 down by 75.65 points at 5,123.41, the Dow Jones fell 475.84 points to 37,983.24, and the Nasdaq composite lost 267.10 points, ending at 16,175.09.

Trends in the GIFT Nifty suggest a sluggish opening for Indian Benchmark indices, showing a decrease of 134.50 points or 0.60 per cent. Nifty futures were observed trading at approximately 22,452.50.

Oil prices declined at the opening of trading in Asia on Monday, as traders increased risk premiums in response to Iran's late Saturday attack on Israel, which the Israeli government reported caused minimal damage.

Brent crude futures for June delivery dropped 24 cents to USD 90.21 a barrel, while West Texas Intermediate (WTI) futures for May delivery decreased by 38 cents to USD 85.28 a barrel.

On April 12, 2024, foreign institutional investors (FII) offloaded shares worth Rs 8,027 crore, while domestic institutional investors (DII) bought shares worth Rs 6,341.53 crore.

Stocks that are banned for trading in the F&O segment on April 15, 2024, are BALRAMCHIN, GNFC, HINDCOPPER, IDEA, INDIACEM, METROPOLIS, NATIONALUM, PEL and ZEEL.