Market Wrap: Benchmark indices close on a flat note while Broader indices outperformed!

In the closing of today's trading session, both the Sensex and Nifty exhibited slight upward movements of 0.02 per cent each, indicating a marginal increase.

Market Update at 3:45 PM: In the closing of today's trading session, both the Sensex and Nifty exhibited slight upward movements of 0.02 per cent each, indicating a marginal increase. Meanwhile, the Nifty Midcap showcased a more robust performance, closing higher by 0.73 per cent, while the Nifty Smallcap displayed a noteworthy increase of 1.03 per cent.

The India VIX, serving as a measure of market volatility, has recorded a decline of 1.45 per cent, suggesting reduced market uncertainty.

Among the gainers, Nifty Realty, Nifty Metal, and Nifty IT held notable positions, contributing to the upward momentum. On the flip side, Nifty Bank, Nifty Financial Services, and Nifty Energy faced losses among sectors.

Individual stock movements highlighted Jio Financial Services, Tata Steel, and Maruti as prominent gainers. In contrast, Power Grid, BPCL, and SBIN stood out as the top losers within the Nifty 50 index.

Market breadth continues to reflect positivity, with approximately 1270 stocks advancing in comparison to 709 stocks registering declines. This distribution underscores the prevailing positive sentiment within the broader market.

Market Update at 2:25 PM: In the present market session, the Sensex and Nifty are showcasing gains of 0.37 per cent and 0.36 per cent respectively, reflecting a positive trajectory. The Nifty Midcap is displaying robust performance with a notable increase of 0.79 per cent, while the Nifty Smallcap is surging with a substantial rise of 1.14 per cent.

The India VIX, an indicator of market volatility, has experienced a significant drop of 4.74 per cent, implying reduced market uncertainty.

Leading the gainers' pack are Nifty Metal, Nifty Realty, and Nifty IT, underpinning the broad-based nature of the market's advancement. However, Nifty PSU Bank and Nifty Energy are witnessing losses among sectors.

Individual stock movement indicates Jio Financial Services, Tata Steel, and Eicher Motors as prominent gainers. Conversely, BPCL, Power Grid, and Dr. Reddy’s Laboratories are observed as top losers within the Nifty 50 index.

Market breadth continues to reflect optimism, with around 1394 stocks advancing compared to 594 stocks facing declines. This distribution underscores the prevalent positive sentiment permeating the broader market.

Market Update at 12:40 AM: In the ongoing market session, the Sensex and Nifty are demonstrating upward trends, marking gains of 0.52 per cent and 0.53 per cent respectively. The Nifty Midcap is notably performing well, recording an increase of 0.86 per cent, while the Nifty Smallcap is surging ahead with a substantial 1.31 per cent rise.

The positive sentiment extends beyond India, as European markets are anticipated to open higher on Wednesday. This trend mirrors the movements on Wall Street overnight. Tuesday saw markets closing higher, in alignment with global counterparts, as investors eagerly await a fresh round of economic data scheduled for release this week. In the European futures market, the DAX and FTSE are trading higher by 0.07 per cent and 0.12 per cent respectively.

Contributing to the overall favourable market outlook, the India VIX has experienced a notable decrease of 4.74 per cent, signifying a reduction in market volatility.

Gainers in focus encompass Nifty Metal, Nifty Realty, and Nifty IT, while no major sectors are currently displaying underperformance.

On an individual stock level, notable gainers include Jio Financial Services, Tata Steel, and Axis Bank. Conversely, BPCL, Power Grid, and Dr. Reddy’s Laboratories are observed as top losers within the Nifty 50.

Market breadth remains upbeat, with approximately 1484 stocks advancing in contrast to 493 stocks experiencing declines. This distribution underscores the prevalent positive sentiment evident within the broader market.

Market Update at 11:10 AM: In the current market session, the Sensex and Nifty are witnessing upward movements, showing an increase of 0.56 per cent and 0.53 per cent respectively. The Nifty Midcap is also demonstrating a strong performance, trading higher by 0.72 per cent, while the Nifty Smallcap is surging ahead with a notable 1.28 per cent increase.

Adding to the favorable market dynamics, the India VIX has experienced a substantial drop of 4.25 per cent, indicating a reduction in market volatility.

Leading the gainers' pack are Nifty IT, Nifty Metal, and Nifty Auto, with no major sectors currently displaying underperformance.

Among individual stocks, Jio Financial Services, Tata Steel, and Axis Bank are prominent gainers, while BPCL, Power Grid, and Dr Reddy’s Laboratories are observed as the top losers within the Nifty 50.

Market breadth reflects a positive stance, as approximately 1492 stocks are advancing in contrast to 478 stocks that are in decline. This distribution underscores the prevailing positive sentiment encompassing the broader market.

Market Update at 9:35 AM: In today's market session, the Sensex and Nifty displayed a favorable opening, surging by 0.49 per cent and 0.45 per cent respectively. The Nifty Midcap also began on a strong note, recording a rise of 0.68 per cent, while the Nifty Smallcap exhibited even stronger growth, opening higher by 0.84 per cent.

Adding to the positive outlook, the India VIX has experienced a notable decline of 3.35 per cent, signaling reduced volatility in the market.

Prominent gainers among the indices include Nifty Realty, Nifty Metal, and Nifty Auto, while at present, there are no major sectors showing signs of underperformance.

Looking at individual stocks, Jio Financial Services, Tech Mahindra, and M&M stand out as top gainers. Conversely, from the Nifty 50, Apollo Hospitals, BPCL, and Power Grid are observed as the top losers.

In terms of market breadth, around 1527 stocks are in the advancing zone, significantly outnumbering the 330 stocks that are currently on the decline. This distribution points to an overall positive sentiment prevailing across the broader market.

Pre-Market Update at 7:55 AM: Continuing a trend, investors reclaimed some lost ground at the close of the month, leading to the third consecutive positive session on Wall Street. Notably, the tech-focused Nasdaq Composite surged by 1.7 per cent during this session. The broader S&P 500 experienced a remarkable uptick of around 1.5 per cent, marking its most impressive performance since June. Similarly, the Dow Jones Industrial Average recorded a substantial climb of nearly 0.9 per cent, translating to a gain of over 290 points.

Oil prices increased due to the intensification of Hurricane Idalia, which poses a threat to crude oil supplies in a tightening market. Brent crude oil futures rose by 0.4 per cent to reach USD 84.76 per barrel. Meanwhile, the Dollar index slightly decreased by 0.06 per cent in futures trading at 103.59, while the value of the dollar remained close to Rs 82.60.

The GIFT Nifty suggests a slightly positive opening for the benchmark indices, showing an increase of 24 points. GIFT Nifty futures are positioned at 19,532 points.

On August 29, foreign institutional investors (FII) bought shares worth Rs 61.51 crore, while domestic institutional investors (DII) purchased shares worth Rs 305.09 crore.

Stocks that are banned for trading in the F&O segment on August 30, 2023, are Escorts, GMR Infra, Hindustan Copper, Indiabulls Housing Finance, Manappuram, RBL Bank, and Sun TV.