Market Wrap: Benchmark indices close lower while Nifty Smallcap surges!

On Friday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 0.62 per cent closing at 72,643.43 level, while Nifty also declined by 0.56 per cent and closed at 22,023.35 level.

Market Update at 3:40 PM: On Friday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 0.62 per cent closing at 72,643.43 level, while Nifty also declined by 0.56 per cent and closed at 22,023.35 level. Whereas the Broader market experienced mixed performance as Nifty Midcap closed lower by 0.46 per cent, while Nifty Smallcap surged by 0.39 per cent.

Market volatility, as indicated by India VIX, has surged by 1.30 per cent, reflecting an increase in market volatility.

Nifty Metal and Nifty FMCG are among the top gainers while Nifty Auto, Nifty Energy, Nifty Pharma and Nifty IT were among the top losers.

UPL, Bharti Airtel and Bajaj Finance were among the top gainers while M&M, BPCL and Coal India were among the top losing stocks from the Nifty 50.

About 938 stocks were advancing as against to 1326 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:40 PM: In the current trading session benchmark indices trade on a lower note with the Sensex trading moderately lower by 0.7 per cent, while Nifty trades lower by 0.72 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 0.56 per cent, while Nifty Smallcap has marginally gained by 0.1 per cent.

India VIX is currently trading higher by 1.39 per cent, indicating a marginal increase in market volatility.

Nifty FMCG and Nifty Realty are among the top gainers, while Nifty Energy, Nifty PSU Bank and Nifty Auto are among the top losers.

Bharti Airtel, UPL and HDFC Life are among the top gainers while BPCL, M&M and Coal India are among the top losing stocks from the Nifty 50.

About 933 stocks are advancing as against 1334 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices trade lower note with the Sensex substantially declining by 0.73 per cent, while Nifty also plunged by 0.88 per cent. Similarly, this trend continued in the broader indices as Nifty Midcap has plunged by 1.58 per cent, while Nifty Smallcap has plummeted by 1.26 per cent.

India VIX is currently trading higher by 4.48 per cent, indicating an increase in market volatility.

European stocks are heading for a lower open on Friday as U.S. Treasury Yields continue to witness upward pressure on anxiety about how fast the Federal Reserve could cut interest rates. European futures DAX, CAC and FTSE trades lower by 0.02 per cent, 0.16 per cent and 0.10 per cent respectively.

Nifty FMCG is the only major sector, which is trading positively, while Nifty Energy, Nifty PSU Bank and Nifty Auto are among the top losers.

UPL, ITC and Bharti Airtel are among the top gainers while BPCL, Coal India and ONGC are among the top losing stocks from the Nifty 50.

About 555 stocks are advancing as against to 1721 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, benchmark indices are trading on a lower note, with Sensex trading moderately lower by 0.75 per cent while Nifty also trades significantly lower by 0.82 per cent. Similarly, in the broader indices Nifty Midcap experiences significant decline of 1.44 per cent, while Nifty Smallcap plummets by 1.13 per cent.

India VIX is trading lower by 3.63 per cent, indicating an increase in market volatility.

Currently no major sector is trading positively while Nifty Energy, nifty PSU Bank and Nifty Auto are among the top losers.

Top gainers in individual stocks are Bajaj Finance, UPL and ITC, whereas BPCL, Coal India and NTPC are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 562 stocks advancing compared to 1695 stocks declining.

Market Update at 9:35 AM: On Friday, Indian markets initiated the trading day on a positive note with Sensex opening moderately lower by 0.31 per cent, while Nifty also opened lower by 0.39 per cent. Similarly in the broader indices Nifty Midcap opened moderately lower by 0.53 per cent, while Nifty Smallcap opened marginally lower by 0.19 per cent.

India VIX has surged by 2.79 per cent, indicating a slight increase in market volatility.

Nifty Media is the only major sector which is among the top gainers while Nifty Energy, Nifty IT and Nifty Auto are among the top losers.

Bharti Airtel, UPL and Adani Ports are among the top gainers while BPCL, Coal India and M&M are among the top losing stocks from the Nifty 50.

About 965 stocks are advancing as against to 1174 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:10 AM: On Thursday, US stocks experienced a decline, particularly in chipmaker stocks, extending losses for the second consecutive day. Investor concerns were compounded by a rise in producer prices, leading to speculation about the Federal Reserve's interest rate cut timing.

Data revealed that US producer prices surged more than anticipated in February, driven by increased costs of goods like gasoline and food.

The Dow Jones Industrial Average dropped by 137.66 points, or 0.35 per cent, closing at 38,905.66. Similarly, the S&P 500 decreased by 14.83 points, or 0.29 per cent, ending at 5,150.48, while the Nasdaq Composite fell by 49.24 points, or 0.3 per cent, to 16,128.53.

The GIFT Nifty trends suggest a lower opening for the benchmark indices, with a decline of 132 points or 0.60 percent. Nifty futures were observed trading near the 22,130.50 mark.

Oil prices dipped slightly on Friday but were set to record a nearly 4 per cent gain for the week. This uptick was fuelled by significant declines in US crude and fuel inventories, drone strikes on Russian refineries, and increased energy demand forecasts, all of which boosted prices.

Brent crude oil futures for May retreated by 41 cents, or 0.5 per cent, to USD 85.01 a barrel, following Thursday's milestone of crossing USD 85 a barrel for the first time since November. Meanwhile, U.S. West Texas Intermediate (WTI) crude for April slipped by 32 cents, or 0.4 per cent, to USD 80.94.

On March 14, 2024, foreign institutional investors (FII) sold shares worth Rs 1,356.29 crore, while domestic institutional investors (DII) purchased shares worth Rs 139.47 crore.

Stock that is banned for trading in the F&O segment on March 15, 2024, are ABFRL, BHEL, MANAPPURAM, NATIONALUM, PEL, RBLBANK, SAIL, TATACHEM and ZEEL.