Market Wrap: Benchmark indices close on a higher note while Broader indices underperform!

On Tuesday, Benchmark indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.48 per cent concluding at 73,057.40 level, while Nifty also surged by 0.34 per cent and closed at 22,196.95 level.

Market Update at 3:50 PM: On Tuesday, Benchmark indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.48 per cent concluding at 73,057.40 level, while Nifty also surged by 0.34 per cent and closed at 22,196.95 level. Whereas the Broader market also experienced moderate losses as Nifty Midcap closed lower by 0.23 per cent, while Nifty Smallcap plunged by 0.46 per cent.

Market volatility, as indicated by India VIX, has marginally increased by 0.34 per cent, reflecting an increase in market volatility.

Nifty Media, Nifty Financial Services, Nifty Bank and Nifty Realty were among the top gainers while Nifty IT, Nifty Auto, Nifty Metal and Nifty Pharma were among the top losers.

Power Grid, HDFC Bank and Axis Bank were among the top gainers while Hero Motocorp, Coal India and Bajaj Auto were among the top losing stocks from the Nifty 50.

About 1062 stocks were advancing as against to 1190 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a mixed note with the Sensex surging by 0.11 per cent, while Nifty marginally declined by 0.03 per cent. Whereas, in the broader indices Nifty Midcap plunged by 0.35 per cent, while Nifty Smallcap plummeted by 0.51 per cent.

India VIX is currently trading higher by 1.4 per cent, indicating a slight increase in market volatility.

Nifty Media, Nifty Realty and Nifty Financial Services are among the top gainers, while Nifty IT, Nifty Auto and Nifty Metal are among the top losers.

Power Grid, HDFC Bank and NTPC are among the top gainers while Hero Motocorp, Coal India and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1016 stocks are advancing as against to 1236 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade on a higher note with the Sensex surging by 0.32 per cent, while Nifty gained by 0.16 per cent. Whereas, in the broader indices Nifty Midcap plunged by 0.25 per cent, while Nifty Smallcap declined by 0.11 per cent.

India VIX is currently trading marginally higher by 1.22 per cent, indicating a slight increase in market volatility.

European stocks are heading for another negative open on Tuesday as sentiment struggles to pickup in global markets. European futures DAX, CAC and FTSE trade lower by 0.18 per cent, 0.15 per cent and 0.08 per cent.

Nifty Media, Nifty Realty and Nifty Financial Services are among the top gainers, while Nifty IT, Nifty Auto and Nifty Pharma are among the top losers.

Power Grid, HDFC Bank and NTPC are among the top gainers while Hero Motocorp, Coal India and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1136 stocks are advancing as against to 1112 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 10:45 AM: In the ongoing trading session, benchmark indices are trading on a mixed note, with Sensex trading higher by 0.09 while Nifty is showing a marginal decline of 0.05 per cent. Similarly, in the broader indices Nifty Midcap experience a decline of 0.19 per cent, while Nifty Smallcap has marginally increase by 0.01 per cent.

India VIX is trading marginally higher by 1.45 per cent, indicating a slight increase in market volatility.

Noteworthy gainers include Nifty Media, Nifty Realty and Nifty Financial Services, while Nifty Pharma, Nifty IT and Nifty Auto are among the top losers.

Top gainers in individual stocks are Power Grid, Grasim and HDFC Bank, whereas Coal India, Hero Motocorp and Eicher Motors are among the leading losers in the Nifty 50.

The broader market sentiment has turned positive, with 1130 stocks advancing compared to 1088 declining.

Market Update at 9:35 AM: On Tuesday, Indian markets initiated the trading day on a lower note with the Sensex opening marginally lower by 0.16 per cent, while Nifty also opened lower by 0.2 per cent. Whereas Nifty Midcap opened marginally higher by 0.09 per cent, while Nifty Smallcap opened moderately higher by 0.44 per cent.

India VIX has marginally surged by 2.07 per cent, indicating a slight increase in market volatility.

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

Power Grid, ONGC and Grasim are among the top gainers while Hero Motocorp, Eicher Motors and Coal India are among the top losing stocks from the Nifty 50.

About 1292 stocks are advancing as against to 828 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:50 AM: The GIFT Nifty trends suggest a muted opening for the benchmark indices, showing a decline of 9 points or 0.04 per cent. Nifty futures were hovering around the 22,162.50 level.

Confidence Petroleum India, in partnership with BW LPG, will construct an onshore LPG import terminal at JNPT, investing Rs 650 crore. Operational by 2026, the terminal aims to enhance LPG storage and distribution. The JV plans Rs 2,000 crore investments for expansion over three years, funded mainly through internal accruals.

Brent crude oil prices closed marginally higher during a shortened session on Monday, as concerns over Middle East tensions impacting supply were tempered by indications of weakening demand.

Trading volumes in oil markets were lighter than usual due to the Presidents' Day holiday in the U.S. Additionally, Brent futures settled earlier than usual due to the holiday.

Brent futures edged up by 9 cents to reach USD 83.56 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude for March delivery, which will not undergo settlement today and expires on Tuesday, increased by 30 cents to USD 79.49 per barrel.

However, the WTI contract for April delivery dipped by 11 cents to USD 78.35 per barrel.

On February 19, 2024, foreign institutional investors (FII) offloaded shares worth Rs 754.59 crore, while domestic institutional investors (DII) purchased shares worth Rs 452.70 crore.

Stocks that are banned for trading in the F&O segment on February 20, 2024, are ABFRL, ASHOKLEY, BANDHANBNK, BIOCON, CANBK, HINDCOPPER, INDIACEM, INDUSTOWER, NATIONALUM, SAIL and ZEEL.