Market Wrap: Benchmark indices close lower while Nifty Smallcap significantly underperforms!

On Monday, Benchmark indices concluded the trading day on a lower note as Sensex closed lower by 0.83 per cent closing at 73,502.64 level, while Nifty also plunged by 0.72 per cent and closed at 22,332.65 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded the trading day on a lower note as Sensex closed lower by 0.83 per cent closing at 73,502.64 level, while Nifty also plunged by 0.72 per cent and closed at 22,332.65 level. Similarly, the Broader market also experienced substantial declines as Nifty Midcap closed moderately lower by 0.39 per cent, while Nifty Smallcap closed significantly lower by 1.99 per cent.

Market volatility, as indicated by India VIX, has surged by 2.46 per cent, reflecting an increase in market volatility.

Nifty Pharma was the only major sector which traded positively while Nifty Media, Nifty PSU Bank, Nifty Metal and Nifty Energy were among the top losers.

Apollo Hospitals, Nestle India and SBI Life were among the top gainers while Tata Consumer Product, Bajaj Auto and Power Grid were among the top losing stocks from the Nifty 50.

About 393 stocks were advancing as against to 1888 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a lower note with the Sensex trading moderately lower by 0.6 per cent, while Nifty trades lower by 0.52 per cent. Similarly, in the broader indices Nifty Midcap plunged by 0.23 per cent, while Nifty Smallcap plummeted by 1.55 per cent.

India VIX is currently trading higher by 3.88 per cent, indicating an increase in market volatility.

Nifty Pharma is the only major sector, which is trading positively, while Nifty Media, Nifty PSU Bank and Nifty Bank are among the top losers.

Nestle India, Apollo Hospitals and Cipla are among the top gainers while Tata Consumer Product, Power Grid and Tata Steel are among the top losing stocks from the Nifty 50.

About 477 stocks are advancing as against to 1803 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade lower with the Sensex moderately declining by 0.4 per cent, while Nifty also plunged by 0.34 per cent. Similarly, the broader indices experience declines as Nifty Midcap has plunged by 0.09 per cent, while Nifty Smallcap has plummeted by 1.35 per cent.

India VIX is currently trading lower by 4.11 per cent, indicating a decrease in market volatility.

European markets are heading for a negative open to start the new trading week, following declines in the Asia-Pacific region overnight. European futures DAX, CAC and FTSE trade lower by 0.47 per cent, 0.34 per cent and 0.35 per cent respectively.

Nifty Pharma and Nifty FMCG are among the top gainers, while Nifty Media, Nifty Bank and Nifty Metal are among the top losers.

Nestle India, Bajaj Finserv and Cipla are among the top gainers while Tata Consumer Product, Tata Steel and Power Grid are among the top losing stocks from the Nifty 50.

About 483 stocks are advancing as against to 1788 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, benchmark indices are trading on a lower note, with Sensex trading moderately lower by 0.34 per cent while Nifty also trades lower by 0.3 per cent. Similarly, in the broader indices Nifty Midcap experiences a marginal decline of 0.13 per cent, while Nifty Smallcap plunges by 1.15 per cent.

India VIX is trading moderately higher by 5.11 per cent, indicating an increase in market volatility.

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

Top gainers in individual stocks are Nestle India, Bharti Airtel and BPCL, whereas Tata Consumer Product, Tata Steel and Power Grid are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 587 stocks advancing compared to 1682 stocks declining.

Market Update at 9:30 AM: On Monday, Indian markets initiated the trading week on a lower note with Sensex opening marginally lower by 0.03 per cent, while Nifty also opened slightly lower by 0.03 per cent. Whereas in the broader indices Nifty Midcap opened moderately higher by 0.24 per cent, while Nifty Smallcap opened lower by 0.15 per cent.

India VIX has surged by 5.31 per cent, indicating an increase in market volatility.

Nifty Realty, Nifty PSU Bank and Nifty FMCG are among the top gainers while Nifty Media, Nifty Metal and Nifty Bank are among the top losers.

Ultratech Cement, Cipla and Hero Motocorp are among the top gainers while Tata Consumer Product, Tata Steel and Tata Motors are among the top losing stocks from the Nifty 50.

About 931 stocks are advancing as against to 1191 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 7:55 AM: On Friday, the S&P 500 and Nasdaq closed lower despite reaching record highs earlier in the session, as chip stocks reversed course, and a mixed labour market report revealed more new jobs than anticipated alongside a rising unemployment rate.

Both the S&P and Nasdaq briefly achieved intraday record highs before losing momentum later in the morning. The Philadelphia Semiconductor Index notably underperformed, finishing the day down 4 per cent after reaching an intraday record peak.

The Dow Jones Industrial Average dropped by 68.66 points, or 0.18 per cent, closing at 38,722.69. The S&P 500 declined by 33.67 points, or 0.65 per cent, settling at 5,123.69, while the Nasdaq Composite saw a decrease of 188.26 points, or 1.16 per cent, closing at 16,085.11.

The GIFT Nifty trends suggest a pessimistic beginning for the benchmark indices, showing a decline of 53 points or 0.23 per cent. Nifty futures were observed trading near the 22,651 mark.

On Monday, oil prices continued their decline from the previous week, driven by worries over sluggish demand in China. However, concerns regarding geopolitical tensions in the Middle East and Russia restrained the extent of the decrease.

Brent futures retreated by 48 cents, or 0.6 per cent, reaching USD 81.60 per barrel at 0129 GMT, while U.S. West Texas Intermediate (WTI) decreased by 50 cents, or 0.6 per cent, to USD 77.51.

Both Brent and WTI benchmarks experienced declines in the preceding week, with Brent dropping by 1.8 per cent and WTI by 2.5 per cent.

On March 07, 2024, foreign institutional investors (FII) bought shares worth Rs 7,304.11 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,601.81 crore.

Stock that is banned for trading in the F&O segment on March 11, 2024, is MANAPPURAM, MGL, SAIL, TATACHEM and ZEEL.