Market Wrap: Benchmark indices close on a lower note whereas Nifty Pharma was among the top gainers!

On July 26, foreign institutional investors (FII) bought shares worth Rs 922.84 crore, while domestic institutional investors (DII) purchased shares worth Rs 470.10 crore.

Market Update at 4:00 PM: Sensex and Nifty close on lower note by 0.66 per cent and 0.6 per cent.

Nifty Midcap closes higher by 0.27 per cent while Nifty Smallcap closes flat.

India VIX has surged by 0.48 per cent.

Nifty Realty, Nifty PSU Bank and Nifty Pharma were among the top gainers whereas Nifty Auto, Nifty Bank and Nifty Financial services were among the top gainers.

Cipla, Sun Pharma and Divi’s Laboratories were among the top gainers while Tech Mahindra, Tata Consumer Product and M&M were among the top losers from the Nifty 50.

About 1055 stocks were advancing as against to 875 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:45 PM: Sensex and Nifty trades lower by 0.33 per cent and 0.26 per cent respectively.

Nifty Midcap and Nifty Smallcap trades higher by 0.42 per cent and 0.26 per cent respectively.

European stock markets are set to open on a higher note.

India VIX has surged by 2.49 per cent.

Nifty Pharma, Nifty PSU Bank and Nifty Realty are among the top gainers while Nifty Auto, Nifty FMCG and Nifty Bank are among the top losers.

Cipla, Sun Pharma and Dr Reddy’s Laboratories are among the top gainers while M&M, Nestle India and Britannia are among the top losers from the Nifty 50.

About 1092 stocks are advancing as against to 865 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:40 AM: Sensex and Nifty trade lower by 0.26 per cent while Nifty trades lower by 0.2 per cent.

Nifty Midcap and Nifty Smallcap trades higher by 0.43 per cent and 0.45 per cent respectively.

India VIX has surged by 2.87 per cent.

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

Cipla, Sun Pharma and Divi’s Laboratories are among the top gainers while M&M, Tech Mahindra and Britannia are among the top losers from the Nifty 50.

About 1141 stocks are advancing as against to 803 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:40 AM: Sensex and Nifty open on a higher note by 0.38 per cent and 0.42 per cent respectively.

Nifty Midcap trades higher by 0.55 per cent while Nify Smallcap trades higher by 0.45 per cent.

India VIX has surged by 0.48 per cent.

Nifty Pharma, Nifty PSU Bank and Nifty Metal are among the top gainers while Nifty Auto is among the top losers.

Cipla, Hindalco and Divi’s Laboratories are among the top gainers while M&M, Tech Mahindra and Hero Moto Corp are among the top losers from the Nifty 50.

About 1411 stocks are advancing as against to 413 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:10 AM: The US Federal Reserve increased its benchmark lending rate on Wednesday to combat higher inflation, reaching the highest level since 2001. The quarter percentage-point rise brings the key lending rate to a range of 5.25 per cent to 5.5 per cent. The Fed stated that it will continue to assess information and its implications for monetary policy. While the statement suggests a possible pause in the next meeting in September, the Fed also indicated potential further monetary tightening ahead, aligning with the median forecast of two additional rate hikes this year.

The Dow Jones Industrial Average extended its winning streak for the 13th consecutive session on Wednesday, marking its longest run since 1987 with a gain of 0.23 per cent. The S&P 500 slightly dipped by 0.02 per cent and the Nasdaq Composite declined by 0.12 per cent. These movements occurred after the Federal Reserve raised interest rates by 25 basis points as widely anticipated, reaching the highest level since 2001.

Oil prices declined approximately 1 per cent on Wednesday following reports of lower-than-anticipated U.S. crude inventories and the Federal Reserve's decision to increase interest rates by 0.25 per cent. Brent crude futures closed down 72 cents, reaching USD 82.92 per barrel. Meanwhile, the Dollar index traded 0.17 per cent higher in futures at 101.06, with one dollar's value remaining close to Rs 81.98.

On Thursday, the GIFT Nifty shows a flat start for the benchmark indices, gaining 21 points, while the futures stood at 19,827 points.

On July 26, foreign institutional investors (FII) bought shares worth Rs 922.84 crore, while domestic institutional investors (DII) purchased shares worth Rs 470.10 crore.

Stocks that are banned for trading in the F&O segment on July 27, 2023, are Delta Corp, RBL Bank and SunTV.