Market Wrap: Benchmark indices close lower with Nifty PSU Bank among the top losers!

On Monday, the Benchmark indices concluded the trading session with modest losses, with both the Sensex and Nifty recording notable declines, with losses of 0.73 per cent and 0.72 per cent, respectively.

Market Update at 3:35 PM: On Monday, the Benchmark indices concluded the trading session with modest losses, with both the Sensex and Nifty recording notable declines, with losses of 0.73 per cent and 0.72 per cent, respectively.

Furthermore, the Nifty Midcap has concluded with a significant downturn of 1.34 per cent, while the Nifty Smallcap has wrapped up with a substantial loss of 1.78 per cent.

Market volatility, measured by India VIX, has seen a sharp increase of 10.68 per cent, underlining heightened market uncertainty.

Currently, no major sectors have shown positive performance, while Nifty PSU Bank, Nifty Media, and Nifty Metal have emerged as the top losers.

Among Nifty 50 stocks, top gainers include HCL Tech, Dr. Reddy’s Laboratories, and Tata Consumer Product, whereas Adani Ports, Hero Motocorp, and HDFC Life have experienced significant losses.

Market breadth paints a negative sentiment, with approximately 355 stocks advancing compared to 1704 stocks declining, indicating an overall bearish tone in the broader market.

Market Update at 2:10 PM: In the latest market developments, both the Sensex and Nifty have recorded losses, with declines of 0.72 per cent and 0.73 per cent, respectively.

Furthermore, the Nifty Midcap segment has witnessed a substantial drop of 1.32 per cent, while the Nifty Smallcap segment is down by 1.68 per cent.

Market volatility, as measured by India VIX, has surged by 10 per cent, signifying heightened market uncertainty.

Currently, there are no major sectors demonstrating positive performance, while Nifty PSU Bank, Nifty Media, and Nifty Metal have emerged as the top decliners.

Top gainers among Nifty 50 stocks include HCL Tech, Dr Reddy’s Laboratories, and TCS, while Adani Ports, Hero Motocorp, and BPCL are among the leading losers.

Market breadth reflects a negative sentiment, with approximately 368 stocks advancing compared to 1688 stocks declining, indicating a prevailing bearish tone in the broader market.

Market Update at 12:35 PM: In the latest market developments, both the Sensex and Nifty have recorded declines, with losses of 0.57 per cent and 0.58 per cent, respectively.

Furthermore, the Nifty Midcap segment has witnessed a notable drop of 1.21 per cent, while the Nifty Smallcap segment is down by 1.48 per cent.

European markets are anticipated to have a mixed opening on Monday, as investors assess the impact of geopolitical unrest in the Middle East. Over the weekend, a significant attack by the Palestinian Militant group Hamas on Israel has raised concerns. European futures indicate that DAX and CAC are trading lower by 0.63 per cent and 0.04 per cent, respectively, while FTSE futures are up by 0.18 per cent.

Market volatility, measured by India VIX, has surged by 9.42 per cent, indicating heightened market uncertainty.

Within the major sectors, Nifty IT is the sole sector displaying positive performance, while Nifty PSU Bank, Nifty Media, and Nifty Metal are among the top decliners.

Top gainers among Nifty 50 stocks include HCL Tech, Dr Reddy’s Laboratories, and TCS, while Adani Ports, Hero Motocorp, and BPCL are among the leading losers.

Market breadth reflects a negative sentiment, with approximately 401 stocks advancing compared to 1644 stocks declining, underscoring an overall bearish tone in the broader market.

Market Update at 11:11 AM: In the current market scenario, the Sensex and Nifty are both trading lower, with decreases of 0.44 per cent and 0.45 per cent, respectively.

Additionally, the Nifty Midcap is down by 0.99 per cent, while the Nifty Smallcap has experienced a more significant drop, declining by 1.26 per cent.

The India VIX, a measure of market volatility, has seen a surge of 9.32 per cent, indicating increased market uncertainty.

Among the major sectors, Nifty IT is the sole sector displaying positive momentum, while Nifty PSU Bank, Nifty Media, and Nifty Metal are among the top underperformers.

Top gainers among Nifty 50 stocks include HCL Tech, ONGC, and TCS, while Adani Ports, BPCL, and Adani Enterprises are among the leading decliners.

In terms of market breadth, the sentiment remains negative, with approximately 450 stocks advancing compared to 1582 stocks declining, reflecting an overall bearish sentiment in the broader market.

Market Update at 9:30 AM: In the morning trading session, the Sensex and Nifty have opened on a lower note, with losses of 0.69 per cent and 0.7 per cent, respectively.

Additionally, the Nifty Midcap has experienced a substantial drop of 1.34 per cent, while the Nifty Smallcap has opened significantly lower by 1.84 per cent.

Market volatility, as measured by the India VIX, has surged by 10.29 per cent, reflecting increased uncertainty.

Among the major sectors, Nifty IT is the sole sector showing positive momentum, while Nifty PSU Bank, Nifty Media, and Nifty Metal have emerged as the top losers.

Top gainers among Nifty 50 stocks include HCL Tech, Divi's Laboratories, and TCS, while Adani Ports, BPCL, and Adani Enterprises are among the leading decliners.

In terms of market breadth, the sentiment appears negative, with approximately 275 stocks advancing compared to 1666 stocks declining, indicating a bearish tone in the broader market.

Pre-Market Update at 7:55 AM: On Sunday, stock futures exhibited a decline due to heightened geopolitical risk stemming from the attack on Israel by Palestinian militants. This adds to the existing fragility of the market, which is grappling with issues such as inflation and rising interest rates. Futures linked to the Dow Jones Industrial Average experienced a drop of 207 points, equivalent to a 0.6 per cent decrease. S&P 500 futures saw a 0.7 per cent decrease, and Nasdaq 100 futures slipped by 0.6 per cent.

On Friday, crude oil prices increased, yet still recorded their most significant weekly declines since March. This decline was influenced by another partial easing of Russia's fuel export restrictions, which amplified concerns about demand in the face of broader macroeconomic challenges. Brent futures, by the end of Friday's trading session, gained 51 cents, reaching USD 84.58 per barrel.

Meanwhile, the Dollar index saw a 0.22 per cent drop in futures, reaching a level of 106.10, while the value of one U.S. dollar remained close to approximately Rs 83.12.

The GIFT Nifty suggests a slightly negative opening for the benchmark indices, with a decline of 87.5 points. The GIFT Nifty futures reached 19,682 points after reaching a peak of 19,698 points.

On October 06, foreign institutional investors (FII) offloaded shares worth Rs 90.29 crore, while domestic institutional investors (DII) bought shares worth Rs 783.25 crore.

Stocks that are banned for trading in the F&O segment on October 09, 2023, are Indiabulls Housing Finance, Delta Corp, Manappuram and PNB.