Market Wrap: Benchmark indices close on a higher note while Nifty Smallcap underperformed!

On Tuesday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing moderately higher by 0.32 per cent closing at 71,336.80, while Nifty surged by 0.43 per cent closing at 21,441.35.

Market Update at 3:40 PM: On Tuesday’s trading session Benchmark indices concluded the day on a positive note with Sensex closing moderately higher by 0.32 per cent closing at 71,336.80, while Nifty surged by 0.43 per cent closing at 21,441.35. Similarly, Broader indices also closed on a higher note with Nifty Midcap surging by 0.65 per cent, while Nifty Smallcap marginally surged by 0.14 per cent.

Market volatility, as indicated by India VIX, has surged by 6.80 per cent, reflecting an increase in market volatility.

Nifty Energy, Nifty Metal, Nifty Pharma and Nifty Auto were among the top gainers, while Nifty Media, Nifty IT and Nifty PSU Bank were among the top losers.

Divi’s Laboratories, Hero Motocorp and NTPC were among the top gainers while Bajaj Finance, Bajaj Finserv and Infosys were among the top losing stocks from the Nifty 50.

About 1232 stocks were advancing as against to 830 stocks that were declining, thus indicating a optimistic sentiment in the broader market.

Market Update at 2:10 PM: In the ongoing trading session benchmark indices trade moderately higher with the Sensex surging by 0.34 per cent, while Nifty soared by 0.43 per cent. Whereas, Nifty Midcap has surged by 0.6 per cent, while Nifty Smallcap is also experiencing a marginal gain of 0.01 per cent.

India VIX is currently trading notably higher by 8.02 per cent, indicating an increase in market volatility.

Nifty Energy, Nifty Metal and Nifty Auto are among the top gainers while Nifty Media, Nifty IT and Nifty Realty are among the top losers as of now.

Divi’s Laboratories, Hero Motocorp and NTPC are among the top gainers while Bajaj Finance, Infosys and TCS are among the top losing stocks from the Nifty 50.

About 1259 stocks are advancing as against to 801 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade higher with the Sensex surging by 0.4 per cent, while Nifty soared by 0.52 per cent. Whereas, Nifty Midcap has surged by 0.79 per cent, while Nifty Smallcap is also experiencing a marginal gain of 0.22 per cent.

India VIX is currently trading higher by 8.68 per cent, indicating an increase in market volatility.

Nifty Metal, Nifty Energy and Nifty Auto are among the top gainers while Nifty IT, and Nifty Realty are among the top losers as of now.

Divi’s Laboratories, Hero Motocorp and Wipro are among the top gainers while Infosys, Bajaj Finance and Bajaj Finserv are among the top losing stocks from the Nifty 50.

About 1307 stocks are advancing as against to 743 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 10:50 AM: In the current trading session benchmark indices trade moderately higher with the Sensex trading higher by 0.38 per cent, while Nifty also trades higher by 0.45 per cent. Whereas, Nifty Midcap has surged by 0.69 per cent, while Nifty Smallcap has soared by 0.25 per cent.

India VIX is currently trading higher by 7.48 per cent, indicating an increase in market volatility.

Nifty Energy, Nifty Metal and Nifty Auto are among the top gainers while currently Nifty IT is the oonly major sector which is underperforming.

Hero Motocorp, Adani Enterprises and Divi’s Laboratories are among the top gainers while Infosys, Maruti and Bajaj Finance are among the top losing stocks from the Nifty 50.

About 1364 stocks are advancing as against to 674 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:30 AM: On Tuesday, Indian markets initiated the trading week on a positive note with the Sensex opening marginally higher by 0.04 per cent, while Nifty opened moderately higher by 0.08 per cent. Similarly, Nifty Midcap opened on a higher note surging by 0.46 per cent, while Nifty Smallcap opened higher by 0.26 per cent.

India VIX has surged by 6.44 per cent, indicating a slight increase in market volatility.

Nifty Metal and Nifty Media and Nifty Energy are among the top gaining sectors while Nifty IT is the only major sector which is currently underperforming.

Hero Motocorp, UPL and Tata Consumer are among the top gainers while Infosys, Wipro and HCL Technologies are among the top losing stocks from the Nifty 50.

About 1364 stocks are advancing as against to 580 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:25 AM: US stocks experienced mixed movements to conclude the week on Friday as investors approached the Christmas holiday weekend. Market participants absorbed inflation data that was milder than expected, reinforcing expectations for Federal Reserve interest rate cuts in the upcoming year.

As the afternoon progressed, all three indices displayed less decisive movements in light trading. Initially rallying on data indicating a moderation in inflation towards the US central bank's target, the Nasdaq joined the S&P 500 in positive territory, while the Dow concluded marginally lower.

The Dow Jones Industrial Average dropped 18.38 points, or 0.05 per cent, closing at 37,385.97. The S&P 500 recorded a gain of 7.88 points, or 0.17 per cent, settling at 4,754.63, and the Nasdaq Composite added 29.11 points, or 0.19 per cent, reaching 14,992.97.

GIFT Nifty trends suggest a neutral commencement for the benchmark indices in India, showing a slight gain of 12 points or 0.06 per cent. The Nifty futures are currently trading at the 21,421 level.

Oil prices showed minimal movement on Tuesday as investors directed their attention to geopolitical tensions in the Middle East and expressed optimism about the imminent initiation of interest rate cuts by the U.S. Federal Reserve. This sentiment was driven by expectations that such actions would boost global economic growth and, consequently, demand for fuel.

Brent crude futures declined by 26 cents, or 0.3 per cent, reaching USD 79.13 a barrel, while U.S. West Texas Intermediate crude was priced at USD 73.59 a barrel, indicating a marginal increase of 3 cents.

On December 22, 2023, foreign institutional investors (FII) offloaded shares worth Rs 2,828.94 crore, while domestic institutional investors (DII) bought shares worth Rs 2,166.72 crore.

Stocks that are banned for trading in the F&O segment on December 26, 2023, are ASHOKLEY, BALRAMCHIN, DELTACORP, HINDCOPPER, INDIACEM, NATIONALUM and SAIL.