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

On July 11, foreign institutional investors (FII) purchased shares worth Rs 1,197.38 crore, while domestic institutional investors (DII) sold shares worth Rs 7.25 crore.

Market Update at 3:50 PM: Sensex closes lower by 0.34 per cent while Nifty closes lower by 0.28 per cent.

Nifty Midcap closes higher by 0.43 per cent while Nifty Smallcap closes higher by 0.76 per cent.

India VIX has plunged by 0.73 per cent.

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

ONGC, Eicher Motors and JSW Steel were among the top gainers while Adani Enterprises, Ultratech Cement and BPCL were among the top losers from the Nifty 50.

About 954 stocks were advancing as against to 968 stocks that were declining, thus indicating a neutral sentiment in the broader market.

Market Update at 12:30 PM: Sensex and Nifty trade lower by 0.13 per cent each.

Nifty Midcap and Nifty Smallcap trade higher by 0.08 per cent and 0.74 per cent.

European markets are set to open slightly higher on Wednesday as investors await key US inflation reading later in the day, which will have significant bearing on the Federal Reserve’s interest rate decisions.

India VIX has surged by 0.29 per cent.

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

ONGC, Eicher motors and Reliance are among the top gainers while Infosys, Ultratech cement and Hindustan Unilever are among the top losers from the Nifty 50.

About 1017 stocks are advancing as against to 894 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:30 AM: Sensex and Nifty open higher by 0.14 per cent and 0.13 per cent respectively.

Nifty Midcap and Nifty Smallcap open higher by 0.22 per cent and 0.7 per cent respectively.

India VIX has surged by 0.64 per cent.

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

ONGC, Titan and UPL are among the top gainers while Indusind Bank, M&M and Hero Motocorp are among the top losers from the Nifty 50.

About 1263 stocks are advancing as against to 552 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM: US stocks gained on Tuesday ahead of key inflation reports, with JPMorgan and other financial shares rising before their upcoming earnings. The Dow Jones rose 317.02 points, the S&P 500 gained 29.73 points and the Nasdaq Composite added 75.22 points. Federal Reserve officials suggested the need for further rate increases to curb inflation while signalling the end of the tightening cycle.

Oil prices held steady in early Asian trade on Wednesday, with hopes for higher demand and supply cuts offsetting fears of an economic downturn. Brent futures slipped by 4 cents, settling at $79.36 per barrel.

On July 11, foreign institutional investors (FII) purchased shares worth Rs 1,197.38 crore, while domestic institutional investors (DII) sold shares worth Rs 7.25 crore.

On Wednesday, the benchmark indices are expected to have a flat start as indicated by the GIFT Nifty, with a decline of 8 points. The futures for the index were recorded at 19,529.

Utkarsh Small Finance Bank's IPO opens today with a price band of Rs 23-25 per share. The bank aims to raise Rs 500 crore for capital augmentation. Retail investors can bid for a minimum of 600 shares. Bidding closes on July 14.

Stocks that are banned for trading in the F&O segment on July 12, 2023, are BHEL, Delta Corp, Granules, India Cements, Indiabulls Housing Finance, PNB, Zee Entertainment and Manappuram.