Market Wrap: Benchmark indices close on a lower note with Nifty FMCG among the top losers!

On Thursday, Frontline indices concluded the trading day on a lower note as Sensex closed substantially lower by 1 per cent concluding at 71,428.43 level, while Nifty also significantly plunged by 0.97 per cent and closed at 21,717.95 level.

Market Update at 3:45 PM: On Thursday, Frontline indices concluded the trading day on a lower note as Sensex closed substantially lower by 1 per cent concluding at 71,428.43 level, while Nifty also significantly plunged by 0.97 per cent and closed at 21,717.95 level. Similarly, the Broader market also experienced a decline as Nifty Midcap closed marginally lower by 0.05 per cent, while Nifty Smallcap plummeted by 0.39 per cent.

Market volatility, as indicated by India VIX, has surged by 2.08 per cent, reflecting a slight increase in market volatility.

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

SBI, Power Grid and BPCL were among the top gainers while Britannia, ITC and Kotak Bank were among the top losing stocks from the Nifty 50.

About 840 stocks were advancing as against to 1417 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a lower note with the Sensex plunging by 0.96 per cent, while Nifty plummeted by 0.85 per cent. Whereas, in the broader indices Nifty Midcap marginally surged by 0.19 per cent, while Nifty Smallcap marginally declined by 0.02 per cent.

India VIX is currently trading marginally lower by 0.01 per cent, indicating a slight decrease in market volatility.

Nifty PSU Bank, Nifty Media and Nifty Energy are among the top gainers, while Nifty FMCG, Nifty Auto and Nifty Financial Services are among the top losers.

SBI, BPCL and Power Grid are among the top gainers while Britannia, ITC and Nestle India are among the top losing stocks from the Nifty 50.

About 864 stocks are advancing as against to 1363 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade on a lower note with the Sensex marginally declining by 0.69 per cent, while Nifty plunged by 0.61 per cent. Whereas, in the broader indices Nifty Midcap surged by 0.38 per cent, while Nifty Smallcap marginally gained by 0.02 per cent.

India VIX is currently trading marginally higher by 0.13 per cent, indicating a slight increase in market volatility.

European markets are heading for a positive open on Thursday as investors focus on a slew of earnings set to come from Unilever, Societe Generale, Maersk, Siemens and Adyen. European futures, DAX, CAC and FTSE trades marginally higher by 0.15 per cent, 0.23 per cent and 0.07 per cent respectively.

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

Power Grid, SBI and BPCL are among the top gainers while Britannia, Tata Consumer and Nestle India are among the top losing stocks from the Nifty 50.

About 943 stocks are advancing as against to 1302 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, benchmark indices are trading on a negative note, with Sensex trading lower by 0.88 and Nifty is showing a decline of 0.82 per cent. Whereas in the broader indices Nifty Midcap experiences marginal gain of 0.12 per cent, while Nifty Smallcap moderately declined by 0.21 per cent.

India VIX is trading marginally higher by 2.37 per cent, indicating a slight increase in market volatility.

Noteworthy gainers include Nifty PSU Bank, Nifty Media and Nifty Energy, while FMCG, Nifty Financial Services and Nifty Auto are among the top losers.

Top gainers in individual stocks are Power Grid, SBI and BPCL, whereas Britannia, Nestle India and Axis Bank are among the leading losers in the Nifty 50.

The broader market sentiment has turned negative, with 797 stocks advancing compared to 1424 declining.

Market Update at 9:30 AM: On Thursday, Indian markets initiated the trading day on a positive note with the Sensex opening moderately higher by 0.32 per cent, while Nifty also opened higher by 0.31 per cent. Similarly, Nifty Midcap opened substantially higher by 0.84 per cent, whereas Nifty Smallcap opened moderately higher by 0.49 per cent.

India VIX has marginally surged by 0.13 per cent, indicating a slight increase in market volatility.

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

Power Grid, BPCL and Indusind Bank are among the top gainers while ITC, Maruti and Tata Consumer Product are among the top losing stocks from the Nifty 50.

About 1381 stocks are advancing as against to 707 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:25 AM: On Wednesday, global equities surged to levels not seen in over two years, with the S&P 500 reaching a new record high. Strong corporate earnings outweighed concerns surrounding U.S. regional banks and the performance of China's markets.

Bond yields experienced an increase following remarks from Federal Reserve officials, reinforcing the belief that the central bank might not implement rate cuts in the near future. Meanwhile, the U.S. dollar saw a decline, while oil prices witnessed an uptick.

The GIFT Nifty trends suggest a favourable beginning for the benchmark indices, with an increase of 26 points or 0.10 per cent. Nifty futures were observed trading near the 22,048.50 level.

On Wednesday, oil prices increased for the third consecutive day, supported by a larger-than-anticipated decline in U.S. fuel inventories and escalating tensions in the Middle East.

Brent crude futures concluded 62 cents higher, marking a 0.79 per cent rise to USD 79.21 per barrel. Similarly, U.S. West Texas Intermediate crude rose by 55 cents, or 0.75 per cent, reaching USD 73.86.

The dollar index, a measure of the U.S. currency against six major peers, was last hovering around 103.77.

On February 07, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,691.02 crore, while domestic institutional investors (DII) purchased shares worth Rs 327.73 crore.

Stocks that are banned for trading in the F&O segment on February 08, 2024, are ASHOKLEY, BALRAMCHIN, DELTACORP, HINDCOPPE, INDIACEM, INDUSTOWER, NATIONALUM, SAIL, UPL and ZEEL.