Market Wrap: Benchmark indices close marginally higher while Nifty Smallcap outperformed!

On Wednesday, the benchmark indices concluded the trading session with positive gains.

Market Update on 3:40 PM: On Wednesday, the benchmark indices concluded the trading session with positive gains. The Sensex recorded a marginal uptick of 0.05 percent, closing in the green, while the Nifty surged by 0.19 percent, also concluding on a positive note. On the other hand, the broader indices, including the Nifty Midcap and Nifty Smallcap, registered gains of 0.99 percent and 0.7 percent, respectively.

Market volatility showed a slight reduction, with India VIX decreasing by 1.36 percent.

The leading sectors of the day included Nifty Realty, Nifty Pharma, and Nifty Metal, while Nifty Financial Services, Nifty IT, and Nifty Bank found themselves among the top-performing sectors.

Notable individual stock movements featured BPCL, Adani Ports, and Asian Paints as the top gainers, while ICICI Bank, NTPC, and Infosys faced declines within the Nifty 50 index.

The overall market sentiment remained positive, with approximately 1,126 advancing stocks in comparison to 900 declining stocks, underscoring a favourable outlook in the broader market.

Market Update at 2:10 PM: The Sensex is currently trading with a marginal increase of 0.14 per cent, while the Nifty is displaying a modest gain of 0.25 per cent. In the broader market, the Nifty Midcap and Nifty Smallcap segments are experiencing significant gains of 0.77 per cent and 0.89 per cent, respectively.

Market volatility, as measured by India VIX, has seen a decrease, dropping by 1.3 per cent, indicating a slight reduction in market uncertainty.

The top-performing sectors of the day include Nifty Pharma, Nifty Realty, and Nifty Energy, while Nifty Financial Services, Nifty Media, and Nifty Bank are among the sectors currently facing losses.

In terms of individual stocks, BPCL, Adani Ports, and Asian Paints are leading the gainers, whereas ICICI Bank, NTPC, and Apollo Hospitals are among the leading decliners within the Nifty 50 index.

The broader market sentiment remains positive, with approximately 1,192 stocks advancing compared to 812 stocks in decline, emphasizing an optimistic outlook among investors.

Market Update at 12:30 PM: The Sensex is currently trading with a marginal increase of 0.06 per cent, while the Nifty is showing a modest gain of 0.14 per cent. In the broader market, the Nifty Midcap and Nifty Smallcap segments are displaying significant gains of 0.88 per cent and 0.89 per cent, respectively.

Market volatility, as measured by India VIX, has experienced a slight uptick, surging by 0.13 per cent, indicating a minor increase in market uncertainty.

Meanwhile, European markets are poised to open lower on Wednesday, with European futures for DAX, FTSE, and CAC showing declines of 0.5 per cent, 0.33 per cent, and 0.35 per cent, respectively.

The top-performing sectors of the day include Nifty Pharma, Nifty Realty, and Nifty Energy, while Nifty Financial Services, Nifty Media, and Nifty Bank are among the sectors currently facing losses.

In terms of individual stocks, BPCL, Adani Ports, and Cipla are leading the gainers, whereas ICICI Bank, NTPC, and HDFC Life are among the leading decliners within the Nifty 50 index.

The broader market sentiment remains positive, with around 1,226 stocks advancing compared to 784 stocks in decline, indicating an optimistic outlook among investors.

Market Update at 11:10 AM: The Sensex is currently trading with a marginal decline of 0.03 per cent, while the Nifty is showing a modest increase of 0.09 per cent. However, when we consider the broader market, the Nifty Midcap and Nifty Smallcap segments are displaying significant gains of 0.87 per cent and 1.08 per cent, respectively.

Market volatility, as measured by India VIX, has decreased by 0.49 per cent, indicating a slight decline in market uncertainty.

Leading the list of top gaining sectors today are Nifty Pharma, Nifty Realty, and Nifty Energy, while Nifty Financial Services and Nifty Bank are among the sectors experiencing losses at the moment.

In terms of individual stocks, BPCL, Adani Ports, and Cipla are making notable gains, whereas ICICI Bank, NTPC, and Bajaj Finance are among the leading decliners within the Nifty 50 index.

Overall, the broader market sentiment remains optimistic, with around 1,319 stocks advancing compared to 681 stocks in decline, underscoring a positive outlook among investors.

Market Update at 9:30 AM: On Wednesday, the stock markets saw a modest opening, with the Sensex and Nifty rising by 0.05 per cent and 0.13 per cent, respectively. In contrast, the Nifty Midcap displayed significant increase, opening up by 0.68 per cent, and the Nifty Smallcap also started the day on a positive note with a gain of 0.8 per cent.

Market volatility exhibited a slight uptick, with the India VIX surging by 0.47 per cent, indicating a mild increase in market uncertainty.

The top-performing sectors of the day included Nifty Pharma, Nifty Realty, and Nifty Media, while the Nifty Financial Services sector was the only major sector underperforming.

Notable stock movements featured BPCL, Asian Paints, and Cipla as the top gainers, while Hindalco, ICICI Bank, and Bajaj Finance faced declines within the Nifty 50 index.

In the broader market, the positive sentiment was evident, with approximately 1,452 advancing stocks compared to 432 declining stocks, reflecting optimism among investors.

Pre-Market Update at 7:50 AM: On Tuesday night in the US, futures linked to the S&P 500 and Nasdaq Composite remained steady after both indices achieved their lengthiest winning streaks in nearly two years. S&P 500 futures showed a marginal 0.05 per cent decline, while Nasdaq 100 futures dipped slightly by 0.06 per cent. Dow Jones Industrial Average futures also fell, with a decrease of 0.03 per cent.

Earlier in the day, during the regular trading session the S&P 500 closed with a 0.3 per cent gain, marking its seventh consecutive positive session. The Nasdaq Composite, on the other hand, advanced by 0.9 per cent, securing its eighth consecutive day of gains. This marked the lengthiest streak of positive days for both indices since November 2021, while the 30-stock Dow registered nearly a 0.2 per cent increase, extending its winning streak to seven days.

The GIFT Nifty suggests a slightly unfavourable beginning for the benchmark indices, with a decline of 14.5 points. GIFT Nifty futures reached 19,481 points, reaching a peak of 19,490 points.

On Tuesday, oil prices reached new lows not seen in 2½ months, with mixed economic data from China countering the effects of Saudi Arabia and Russia extending output cuts. Brent crude futures experienced a significant decline of USD 2.64, equivalent to 3.11 per cent, reaching USD 82.53 per barrel. In the currency markets, the Dollar index showed a notable 0.32 per cent increase in futures, standing at 105.55. Meanwhile, the value of one dollar remained close to Rs 83.09.

On November 07, 2023, foreign institutional investors (FII) offloaded shares worth Rs 497.21 crore, while domestic institutional investors (DII) purchased shares worth Rs 700.28 crore.

Stock that is banned for trading in the F&O segment on November 08, 2023, is GNFC.