Market Wrap: Benchmark indices close on a flat note while Nifty Auto surges over 1.5 per cent!

On Wednesday, Benchmark indices concluded trading day on a flat note as Sensex marginally declined by 0.06 per cent and closed at 73,466.39 level, while Nifty closed flat at 22,302.50 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded trading day on a flat note as Sensex marginally declined by 0.06 per cent and closed at 73,466.39 level, while Nifty closed flat at 22,302.50 level. Similarly, the Broader market experienced substantial gains as Nifty Midcap closed higher by 0.85 per cent, while Nifty Smallcap surged by 0.6 per cent.

Market volatility, as indicated by India VIX, has surged by 0.12 per cent, reflecting a slight increase in market volatility.

Nifty Auto, Nifty Energy and Nifty Metal closed positively while Nifty Bank, Nifty Financial Services and Nifty IT were among the top losers.

Hero Motocorp, BPCL and Tata Motors were among the top gainers while Dr Reddy’s Laboratories, Asian Paints and Grasim were among the top losing stocks from the Nifty 50.

About 1187 stocks were advancing as against to 908 stocks that were declining, thus indicating a positive 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 marginally lower by 0.17 per cent, while Nifty declined by 0.15 per cent. Whereas, in the broader indices Nifty Midcap has surged by 0.3 per cent, while Nifty Smallcap has soared by 0.53 per cent.

India VIX is currently trading higher by 0.6 per cent, indicating a slight increase in market volatility.

Nifty Energy, Nifty Metal and Nifty PSU Bank are the major sectors which are trading positively while Nifty IT, Nifty Bank and Nifty Financial Services are among the top losers.

BPCL, Power Grid Corporation and Tata Motors are among the top gainers while Dr Reddy’s Laboratories, Asian Paints and Hindustan Unilever are among the top losing stocks from the Nifty 50.

About 1212 stocks are advancing as against 890 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM In the current trading session benchmark indices trade marginally higher as Sensex has gained by 0.01 per cent, while Nifty has also slightly surged by 0.05 per cent. Similarly, in the broader markets Nifty Midcap has moderately gained by 0.47 per cent, while Nifty Smallcap has soared by 0.88 per cent.

India VIX has spiked up by 0.15 per cent, indicating a slight increase in market volatility.

European markets are heading for a mixed open on Wednesday as investors look ahead to more earnings reports in the region. European futures DAX, CAC and FTSE trade higher by 0.22 per cent, 0.23 per cent and 0.15 per cent respectively.

Nifty PSU Bank, Nifty Energy and Nifty Metal are trading positively while Nifty Bank, Nifty Financial Services and Nifty IT are among the top losers.

Coal India, BPCL and NTPC are among the top gainers while Dr Reddy’s Laboratories, Asian Paints and Hindustan Unilever are among the top losing stocks from the Nifty 50.

About 1365 stocks are advancing as against to 715 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex moderately declining by 0.38 per cent, while Nifty also plunged by 0.34 per cent. Whereas, in the broader indices Nifty Midcap experience marginal gains of 0.04 per cent, while Nifty Smallcap has moderately gained by 0.47 per cent.

India VIX is trading higher by 0.62 per cent, indicating a slight increase in market volatility.

Nifty PSU Bank, Nity Energy and Nifty Metal are trading positively while Nifty Bank, Nifty Pharma and Nifty Financial Services are among the top losers.

Top gainers in individual stocks are BPCL, Coal India and Tata Consumer Product, whereas Dr Reddy’s Labotatories, Coal India and Tata Consumer Product are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1231 stocks advancing compared to 846 stocks declining.

Market Update at 9:40 AM: On Wednesday, Indian markets initiated the trading day on a positive note with Sensex opening moderately lower by 0.38 per cent, while Nifty also opened lower by 0.34 per cent. Whereas, in the broader indices Nifty Midcap opened marginally lower by 0.14 per cent, while Nifty Smallcap surged by 0.21 per cent.

India VIX has surged by 2.82 per cent, indicating an increase in market volatility.

Nifty PSU Bank, Nifty Metal and Nifty Energy are among the top gainers while Nifty Realty, Nifty Pharma and Nifty Bank are among the top losers.

Coal India, BPCL and Tata Steel are among the top gainers while Dr Reddy’s Laboratories, L&T and Asian Paints are among the top losing stocks from the Nifty 50.

About 1185 stocks are advancing as against to 742 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:45 AM: Tuesday saw Wall Street paring back gains as investors assessed the possibility of Federal Reserve rate cuts. Treasury yields declined while the dollar strengthened, driven by expectations of strong US economic growth and potential rate hikes.

The Dow Jones rose by 0.08 per cent, the S&P 500 gained 0.13 per cent, and the Nasdaq declined by 0.1 per cent. Disappointing US jobs data and sluggish GDP growth fuelled speculation about potential Fed rate cuts.

The GIFT Nifty trends suggest a neutral opening for the Indian Benchmark indices, with a marginal increase of 10 points or 0.04 per cent. Nifty futures were observed trading near the 22,400 level.

Oil stabilized close to its mid-March lows amidst tensions in the Middle East and a moderately bearish report on US stockpiles.

Brent lingered near USD 83 per barrel, slightly above its 100-day moving average, while West Texas Intermediate remained above USD 78. Meanwhile, Israel's military advanced into Rafah amidst ongoing but unresolved truce negotiations.

On May 07, 2024, foreign institutional investors (FII) offloaded shares worth Rs 3,668.84 crore, while domestic institutional investors (DII) bought shares worth Rs 2,304.50 crore.

Stocks that are banned for trading in the F&O segment on May 08, 2024, are ABFRL, BALRAMCHIN, BIOCON, GMRINFRA, IDEA, PNB, SAIL and ZEEL.