Market Wrap: Benchmark indices close on a higher note while broader indices outperformed!

On Thursday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing moderately higher by 0.51 per cent closing at 70,865.10, while Nifty surged by 0.5 per cent closing at 21,255.05.

Market Update at 3:45 PM: On Thursday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing moderately higher by 0.51 per cent closing at 70,865.10, while Nifty surged by 0.5 per cent closing at 21,255.05. Similarly, Broader indices also closed on a lower note with Nifty Midcap surging by 1.69 per cent, while Nifty Smallcap soared by 1.94 per cent.

Market volatility, as indicated by India VIX, has plunged by 4.79 per cent, reflecting a slight decrease in market volatility.

Nifty Media, Nifty Energy, Nifty PSU Bank and Nifty Metal were among the top gainers, while no major sector underperformed.

BPCL, Power Grid and Britannia were among the top gainers while Bajaj Auto, Bajaj Finance and Axis Bank were among the top losing stocks from the Nifty 50.

About 1622 stocks were advancing as against to 432 stocks that were declining, thus indicating a optimistic sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade marginally higher with the Sensex surging by 0.25 per cent, while Nifty trades higher by 0.24 per cent. Similarly, Nifty Midcap has surged by 0.59 per cent, while Nifty Smallcap is also experiencing a notable gain of 0.99 per cent.

India VIX has marginally declined by 0.31 per cent, indicating a slight decrease in market volatility.

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

Power Grid, Britannia and Eicher Motors are among the top gainers while Axis Bank, Bajaj Auto and Bajaj Finance are among the top losing stocks from the Nifty 50.

About 1415 stocks are advancing as against to 631 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 moderately higher with the Sensex surging by 0.42 per cent, while Nifty soaring by 0.43 per cent. Whereas, Nifty Midcap has surged by 1.05 per cent, while Nifty Smallcap is also experiencing a notable gain of 1.25 per cent.

India VIX is currently trading on a flat note, indicating stable market volatility.

European markets are heading for a negative open on Thursday, tracking global declines overnight. European futures DAX and CAC trade lower by 0.53 per cent and 0.46 per cent respectively, while FTSE trades marginally higher by 0.06 per cent.

Nifty Media, Nifty Energy and Nifty IT are among the top gainers while Nifty Realty is the only major sector which is currently underperforming.

Britannia, Power Grid and Apollo Hospitals are among the top gainers while Axis Bank, Bajaj Auto and SBI Life are among the top losing stocks from the Nifty 50.

About 1574 stocks are advancing as against to 471 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:15 AM: In the current trading session benchmark indices trade marginally lower with the Sensex trading marginally lower by 0.02 per cent, while Nifty also trades lower by 0.01 per cent. Whereas, Nifty Midcap has surged by 0.69 per cent, while Nifty Smallcap has soared by 0.94 per cent.

India VIX is currently trading on a flat note, indicating stable market volatility.

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

Power Grid, Britannia and HDFC Bank are among the top gainers while Axis Bank, Cipla and L&T are among the top losing stocks from the Nifty 50.

About 1500 stocks are advancing as against to 534 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:30 AM: On Thursday, Indian markets initiated the trading session on a negative note with the Sensex opening significantly lower by 0.58 per cent, while Nifty also opened substantially lower by 0.61 per cent. Similarly, Nifty Midcap opened on a lower note plunging by 0.87 per cent, while Nifty Smallcap opened significantly lower by 0.74 per cent.

India VIX has marginally surged by 3.32 per cent, indicating a slight increase in market volatility.

Nifty Media and Nifty Energy are among the top gaining sectors while Nifty Realty, Nifty PSU Bank and Nifty Pharma are among the top losers.

Power Grid, LTIMindtree and ONGC are among the top gainers while Axis Bank, Cipla and L&T are among the top losing stocks from the Nifty 50.

About 694 stocks are advancing as against to 1232 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:20 AM: U.S. stocks concluded lower on Wednesday as a sudden mid-afternoon downturn disrupted Wall Street's notable rally driven by declining interest rates and the Federal Reserve's shift toward a dovish stance.

In the late session, all three major US stock indexes turned downward, finishing 1.3 per cent to 1.5 per cent below Tuesday's closing levels.

The Dow Jones Industrial Average experienced a decline of 475.92 points, equivalent to 1.27 per cent, closing at 37,082. The S&P 500 lost 70.02 points, or 1.47 per cent, settling at 4,698.35, while the Nasdaq Composite dropped 225.28 points, or 1.5 per cent, reaching 14,777.94.

GIFT Nifty trends suggest an unfavourable opening for the benchmark indices in India, reflecting a decline of 78 points or 0.37 per cent. Nifty futures are currently trading around the 21,139 level.

Oil prices concluded marginally higher after a volatile trading session on Wednesday, with concerns arising over potential global trade disruption and Middle East tensions following attacks on ships by Yemen's Iran-aligned Houthi forces in the Red Sea.

However, the price gains were constrained by an unexpected increase in US crude inventories, larger-than-anticipated gains in fuel stocks, and record domestic oil production.

Brent crude futures settled with an increase of 47 cents, equivalent to 0.6 per cent, reaching USD 79.70 per barrel, while US West Texas Intermediate crude settled higher by 28 cents, or 0.4 per cent, closing at USD 74.22 per barrel.

On December 20, 2023, foreign institutional investors (FII) offloaded shares worth Rs 1,322.08 crore, while domestic institutional investors (DII) bought shares worth Rs 4,754.34 crore.

Stocks that are banned for trading in the F&O segment on December 21, 2023, are ASHOKLEY, BALRAMCHIN, DELTACORP, INDIACEM, INDUSTOWER, MANAPPURAM, NATIONALUM, PEL, RBLBANK and SAIL.