Market Wrap: Benchmark indices close on a lower note while Nifty PSU Bank was the top gainer!

On August 10, foreign institutional investors (FII) bought shares worth Rs 331.22 crore, while domestic institutional investors (DII) purchased shares worth Rs 703.72 crore.

Market Update at 3:45 PM: The trading day concluded with noteworthy declines as both the Sensex and Nifty settled lower, displaying a decrease of 0.56 per cent and 0.59 per cent respectively.

Similarly, the Nifty Midcap concluded with a decline of 0.45 per cent, while the Nifty Smallcap experienced a more modest reduction of 0.18 per cent.

The India VIX exhibited a marginal uptick of 1.05 per cent, signalling a slight escalation in market volatility.

In terms of sectoral performance, the Nifty PSU Bank stood out as the solitary significant gainer, standing in contrast to the Nifty FMCG, Nifty Pharma, and Nifty Media sectors, which faced notable losses.

Among individual stock movements within the Nifty 50 index, HCL Tech, Titan, and Power Grid exhibited strong gains, while NTPC, Indusind Bank, and Divi’s Laboratories encountered declines.

Analysing market breadth, around 718 stocks advanced while approximately 1268 stocks declined. This suggests a mild undercurrent of negative sentiment prevailing across the broader market.

Market Update at 2:15 PM: In today's trading session, both the Sensex and Nifty experienced a decline, with the Sensex edging down by 0.32 per cent and the Nifty following suit with a 0.36 per cent decrease.

The Nifty Midcap exhibited a minor downtrend, recording a decrease of 0.18 per cent, while the Nifty Smallcap managed a slight gain of 0.13 per cent.

Notably, the India VIX registered a marginal upswing of 0.18 per cent, suggesting a modest increase in market volatility.

Among sectoral performances, the Nifty PSU Bank, Nifty Realty, and Nifty IT sectors emerged as the top gainers. Conversely, the Nifty FMCG, Nifty Pharma, and Nifty Media sectors faced losses.

Zooming in on specific stock movements within the Nifty 50 index, HCL Tech, Titan, and Power Grid demonstrated strong gains, while SBI Life, Indusind Bank, and NTPC encountered declines.

Broadly speaking, market breadth favored declining stocks, with approximately 1128 stocks experiencing decreases in contrast to around 852 stocks that advanced. This distribution of trends indicates a mild undertone of negative sentiment prevailing in the broader market.

Market Update at 12:40 PM: In today's trading session, both the Sensex and Nifty experienced a notable decline of 0.47 per cent, reflecting cautious investor sentiment. The Nifty Midcap exhibited a marginal decrease of 0.07 per cent, while the Nifty Smallcap managed a modest gain of 0.08 per cent.

European markets are poised for a lower opening, influenced by ongoing efforts by investors to absorb earnings reports and the latest data on US inflation. European futures for the DAX and FTSE have retreated by 0.31 per cent and 0.09 per cent, respectively.

Within the domestic market, the India VIX has surged by 1.40 per cent, indicating a heightened level of volatility. Notably, the Nifty PSU Bank, Nifty Realty, and Nifty IT sectors emerged as the top gainers, contrasting with the Nifty FMCG, Nifty Pharma, and Nifty Media sectors, which faced losses.

Examining specific stock performances within the Nifty 50 index, HCL Tech, Titan, and Tata Steel stood out as the top gainers, while SBI Life, Indusind Bank, and NTPC experienced declines.

In a broader context, market breadth favored declining stocks, with around 1098 stocks registering decreases compared to approximately 880 stocks that advanced. This points toward a slight undercurrent of negative sentiment within the broader market.

Market Update at 11:15 AM: Sensex and Nifty have registered notable declines of 0.38 per cent and 0.39 per cent respectively. While the Nifty Midcap segment remains relatively stable, the Nifty Smallcap segment has managed to edge higher by 0.09 per cent.

India VIX has surged by 1.40 per cent, reflecting an increase in market volatility.

Among the top performers, we see Nifty PSU Bank and Nifty Realty making impressive gains. However, on the flip side, Nifty Metal, Nifty Pharma, and Nifty Media sectors have incurred losses.

Looking at individual stock movements, HCL Tech, Power Grid, and Apollo Hospitals are leading the gains, showcasing their strength within the Nifty 50. Conversely, Sun Pharma, IndusInd Bank, and Hindalco are among the prominent losers.

In terms of market sentiment, approximately 890 stocks are advancing, while 1070 stocks are facing declines. This balance slightly tilting towards the declining side suggests a cautious undertone in the broader market sentiment.

Market Update at 9:45 AM: Sensex and Nifty kicked off the day with minor declines of 0.3 per cent and 0.33 per cent respectively. While Nifty Midcap commenced trading flat, the Nifty Smallcap displayed strength, opening with a promising 0.3 per cent gain.

The India VIX experienced a notable surge of 3.07 per cent, suggesting increased market volatility.

Noteworthy sectoral moves showcased Nifty IT, Nifty PSU Bank, and Nifty Realty as the top gainers. In contrast, Nifty Metal, Nifty Pharma, and Nifty FMCG faced early losses.

HCL Tech, Power Grid, and Apollo Hospitals started the day on a strong note as top gainers among the Nifty 50. Conversely, Hero Motocorp, Hindalco and SBI Life saw early declines, positioning them among the top losers.

The broader market sentiment appeared positive, with approximately 1044 advancing stocks in contrast to 804 declining stocks. This paints an optimistic outlook for the trading session.

Pre-Market Update at 8:30 AM: In the main trading session on Thursday, the major averages recorded modest increases, although they remained considerably below their session highs. The Dow rose by 0.15 per cent gain, while the Nasdaq Composite saw a slight increase of 0.12 per cent. The S&P 500 also experienced a marginal uptick of only 0.03 per cent.

Oil prices, having recently surged, saw a slight decline as Brent crude, close to January highs, dropped by 72 cents to USD 83.68 a barrel. This shift was influenced by fading speculation about a US interest rate hike due to inflation data, and OPEC's positive outlook on oil demand. While both benchmarks, WTI and Brent, have maintained a continuous rally since June, the Dollar index traded 0.15 per cent higher, while the dollar value remained around Rs 82.84.

The GIFT Nifty points to a slightly optimistic opening for the benchmark indices, showing a 16-point gain. This follows the Nifty's 89-point drop to 19,543 points on August 10. GIFT Nifty futures are at 19,556 points.

On August 10, foreign institutional investors (FII) bought shares worth Rs 331.22 crore, while domestic institutional investors (DII) purchased shares worth Rs 703.72 crore.

Stocks that are banned for trading in the F&O segment on August 11, 2023, are Chambal Fertilisers & Chemicals Ltd, Balrampur Chini Mills, Can Fin Homes, Delta Corp, Granules, Hindustan Copper, Indiabulls Housing Finance, Manappuram and Zee Entertainment.