Market Wrap: Benchmark indices close on a higher note with Nifty Realty among the top gainers!

The trading session concluded with a notable upswing, as both the Sensex and Nifty indices record gains of 0.17 per cent and 0.21 per cent, respectively.

Market Update at 3:40 PM: The trading session concluded with a notable upswing, as both the Sensex and Nifty indices record gains of 0.17 per cent and 0.21 per cent, respectively. This upward momentum is also reflected in the mid-cap segment, with Nifty Midcap achieving a rise of 0.5 per cent, while Nifty Smallcap boasts a commendable 0.74 per cent increase.

Adding to the market dynamics, the India VIX has witnessed a surge of 2.57 per cent, indicating increased market volatility.

Among the top gainers in this session are Nifty Realty, Nifty Pharma, and Nifty PSU Bank. In contrast, Nifty IT and Nifty FMCG sectors faced some setbacks during the day.

Prominent gainers encompass Power Grid, L&T, and M&M. On the other hand, within the Nifty 50, Jio Financial Services, Reliance, and Adani Enterprises encountered declines.

The broader market sentiment reflected of positive cues, with around 1124 stocks advancing against 875 stocks declining. This balance tips towards optimism, hinting at a positive market sentiment that resonates among investors.

Market Update at 2:10 PM: The trading session unfolds with an air of optimism, as both the Sensex and Nifty indices exhibit gains of 0.43 per cent and 0.46 per cent, respectively. This positive trend is mirrored in the mid-cap segment, with Nifty Midcap showing an upward trajectory of 0.66 per cent, while Nifty Smallcap outperforms with an impressive 0.88 per cent surge.

Amid the market activity, the India VIX has experienced a notable surge of 1.08 per cent, signaling an increased level of market volatility.

Prominent gainers in today's session include Nifty Realty, Nifty PSU Bank, and Nifty Auto. In contrast, Nifty IT and Nifty FMCG sectors have encountered some challenges.

Leading the pack of gainers are Jio Financial Services, Power Grid, and BPCL. However, within the Nifty 50, Bajaj Finance, Hindalco, and Bajaj Finserv are grappling with losses.

In terms of market breadth, approximately 1257 stocks are advancing, while 749 stocks are declining. This dynamic suggests a prevailing positive sentiment in the broader market, fuelling optimism among investors.

Market Update at 12:30 PM: In the ongoing market session, the Sensex and Nifty indices are demonstrating upward momentum, with gains of 0.37 per cent and 0.38 per cent, respectively. Notably, Nifty Midcap is marking a 0.56 per cent rise, while Nifty Smallcap is surging with an impressive 0.87 per cent increase.

As European markets prepare to open, encouraging signs emerge, as indicated by European futures DAX and FTSE, which are trading higher by 0.68 per cent and 0.66 per cent, respectively.

Despite the overall positivity, the India VIX has witnessed a notable surge of 1.99 per cent, suggesting increased market volatility.

Among the gainers, Nifty Realty, Nifty PSU Bank, and Nifty Media stand out, while Nifty IT and Nifty FMCG have faced some setbacks.

Prominent names driving the gains include Jio Financial Services, Cipla, and BPCL. However, within the Nifty 50, Titan, Hindalco, and Bajaj Finserv are experiencing declines.

The broader market sentiment remains upbeat, with approximately 1270 stocks advancing and 720 stocks declining, showcasing a prevailing positive sentiment.

Market Update at 11:10 AM:  Benchmark indices trade on a positive note, with both the Sensex and Nifty indices showing gains of 0.23 per cent and 0.26 per cent respectively. The upward trend was further reflected in Nifty Midcap, rising by 0.42 per cent, and Nifty Smallcap, surging by 0.7 per cent.

However, the surge in market momentum coincided with a 2.24 per cent spike in the India VIX, indicating heightened volatility.

Prominent gainers within the sectors include Nifty Realty, Nifty Pharma, and Nifty Auto. Interestingly, Nifty IT stands as the sole major sector underperforming.

Jio Financial Services, Cipla, and BPCL lead the gains, while Adani Enterprises, Bajaj Finance, and Bajaj Finserv encountered losses among the Nifty 50 components.

The market breadth displayed a favourable outlook, with approximately 1278 advancing stocks compared to 689 declining ones, showcasing an overall positive sentiment across the broader market.

Market Update at 9:30 AM: As the trading session commenced, the Sensex registered slight declines of 0.04 per cent while Nifty registered marginal gains of 0.02 per cent. In contrast, the Nifty Midcap and Nifty Smallcap exhibited early gains of 0.28 per cent and 0.35 per cent.

Volatility in the market surged significantly, evident from a remarkable 2.48 per cent increase in the India VIX.

The initial trend saw Nifty Media, Nifty Realty, and Nifty Metal as the leading gainers, while Nifty IT and Nifty FMCG experienced losses.

Among notable gainers within the Nifty 50 index were Adani Enterprises, Cipla and L&T, whereas Jio Financial Services, Bharti Airtel and Hindalco faced setbacks.

The broader market sentiment remained positive, with approximately 1259 advancing stocks compared to 590 declining ones, signalling a favourable outlook in the broader market despite the mixed start among indices.

Pre-Market Update at 7:55 AM: After remarks by Federal Reserve Chair Jerome Powell, stocks experienced a successful session. The Dow Jones Industrial Average recorded a gain of 247.48 points, equivalent to 0.7 per cent, on Friday, yet concluded the week with a 0.45 per cent decline. The S&P 500 increased approximately 0.7 per cent, while the Nasdaq Composite surged by about 0.9 per cent. Both the broad-based and tech-heavy indices managed to achieve their first winning week in four, with gains of roughly 0.8 per cent and 2.3 per cent respectively.

Oil futures surged by around 1 per cent, reaching a week-long peak on Friday due to several factors: surging U.S. diesel prices, a decrease in the number of oil rigs, and a refinery fire in Louisiana. Brent crude futures saw an increase of USD 1.12, or 1.3 per cent, reaching a settlement at USD 84.48 per barrel. Concurrently, the Dollar index experienced a 0.20 per cent upswing in futures at 104.19, with the dollar's value staying close to Rs 82.55.

The GIFT Nifty signals a slight positive beginning for the Benchmark indices, showing a 40-point gain following the Nifty's 120-point drop to 19,265 points on August 25. GIFT Nifty futures are positioned at 19,278 points.

On August 25, foreign institutional investors (FII) offloaded shares worth Rs 4,638.21 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,414.35 crore.

Stocks that are banned for trading in the F&O segment on August 28, 2023, are BHEL, Escorts, GMR Infra, Hindustan Copper, India Cements, Manappuram, RBL Bank, and Sun TV.