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

In today's trading session, both the Sensex and Nifty witnessed significant declines, closing 1.41 per cent and 1.39 per cent lower, respectively.

Market Update at 3:40 PM: In today's trading session, both the Sensex and Nifty witnessed significant declines, closing 1.41 per cent and 1.39 per cent lower, respectively. Nifty Midcap registered a 1.16 per cent drop, while Nifty Smallcap closed moderately lower by 0.34 per cent.

India VIX, a measure of market volatility, surged by 3.76 per cent, indicating an increase in market turbulence.

All major sectors underperformed during the day, with Nifty Metal, Nifty Auto, and Nifty Financial Services ranking among the top losers.

Notably, Axis Bank, ITC, and HCL Technologies were among the top gainers, while M&M, Bajaj Finance, and Adani UPL were the leading decliners within the Nifty 50.

The broader market sentiment suggests a negative outlook, as approximately 754 stocks advanced in contrast to 1,262 stocks that recorded declines.

Market Update at 2:20 PM: In the current market scenario, both the Sensex and Nifty have experienced notable drops, with the Sensex plunging by 1.28 per cent, and the Nifty following closely with a 1.31 per cent decline. Similarly, Nifty Midcap and Nifty Smallcap have traded notably lower, marking losses of 1.64 per cent and 0.98 per cent, respectively.

India VIX, a gauge of market volatility, has surged by 6.81 per cent, indicating a significant increase in market turbulence.

Regarding sector performance, all major sectors are currently underperforming, with Nifty Realty leading the losses, followed closely by Nifty Media, Nifty PSU Bank, and Nifty Financial Services.

Remarkably, Axis Bank, ITC, and HCL Technologies are among the top gainers, while Bajaj Finance, Tech Mahindra, and M&M rank among the leading decliners within the Nifty 50.

The broader market sentiment conveys a negative outlook, with approximately 543 stocks advancing in contrast to 1,479 stocks registering declines.

Market Update at 12:35 PM: In the current market landscape, both the Sensex and Nifty have seen substantial drops, with the Sensex plunging by 1.25 per cent, and the Nifty trailing closely with a 1.32 per cent decline. Concurrently, Nifty Midcap and Nifty Smallcap have traded notably lower, marking losses of 1.86 per cent and 1.85 per cent, respectively.

India VIX, a gauge of market volatility, has surged significantly by 9.75 per cent, indicating a substantial increase in market turbulence.

On the Global front, European markets are headed for a lower open on Thursday, as European fuures, including DAX, FTSE, and CAC, exhibit declines of 0.97 per cent, 0.63 per cent, and 1.02 per cent, respectively.

Regarding sector performance, all major sectors are presently underperforming, with Nifty PSU Bank leading the losses, followed by Nifty Realty, Nifty Financial Services, and Nifty Metal.

Notably, Axis Bank and HCL Technologies are the sole stocks exhibiting positive movement at the moment, while Bajaj Finance, Tech Mahindra, and M&M rank among the prominent decliners within the Nifty 50.

The broader market sentiment conveys a negative outlook, with approximately 296 stocks advancing in contrast to 1,741 stocks registering declines.

Market Update at 11:10 AM: In the current market scenario, benchmark indices have experienced significant drops, with the Sensex plunging by 1.27 per cent, and the Nifty following suit with a 1.29 per cent decline. Similarly, Nifty Midcap and Nifty Smallcap have traded substantially lower, posting losses of 2.14 per cent and 2.46 per cent, respectively.

India VIX, a measure of market volatility, has surged by an impressive 10.67 per cent, indicating a substantial increase in market turbulence.

Regarding sector performance, all major sectors are currently underperforming. Notably, Nifty Realty leads the losses, with Nifty Media, Nifty Metal, and Nifty PSU Bank trailing closely.

An exceptional outlier, Axis Bank, is the only stock displaying positive movement at this moment. Conversely, Bajaj Finance, Tech Mahindra, and M&M are among the top decliners within the Nifty 50.

The broader market sentiment reflects a negative outlook, with around 155 stocks advancing against 1,865 stocks recording declines.

Market Update at 9:40 AM: In the current market session, both the Sensex and Nifty have opened with significant losses, recording drops of 0.83 per cent and 0.89 per cent respectively. Meanwhile, Nifty Midcap has seen a considerable decline of 1.95 per cent, and Nifty Smallcap opened with a substantial 2.45 per cent lower.

Furthermore, India VIX has surged by 6.7 per cent, signaling a modest uptick in market volatility.

As for sector performance, all major sectors are currently underperforming, with Nifty Realty at the forefront of the losses, followed closely by Nifty Media, Nifty Metal, and Nifty PSU Bank.

Remarkably, Axis Bank stands as the sole stock trading positively at present, while Adani Enterprises, Tech Mahindra, and M&M are among the leading decliners within the Nifty 50.

The broader market sentiment indicates a negative outlook, with approximately 134 stocks advancing against 1,782 stocks declining.

Pre-Market Update at 8:10 AM: On Wednesday, U.S. stocks experienced a widespread decline, primarily driven by a significant drop in Alphabet shares following disappointing earnings from the parent company of Google. Additionally, rising U.S. Treasury yields reignited concerns that interest rates might remain elevated for an extended period.

Specifically, the Dow fell by 105.45 points, equivalent to a 0.32 per cent decline, ending at 33,035.93. The S&P 500 exhibited a more substantial loss, declining by 60.91 points, representing a 1.43 per cent drop, to settle at 4,186.77. The Nasdaq Composite recorded the most pronounced dip, with a decrease of 318.65 points or 2.43 per cent, closing at 12,821.22.

GIFT Nifty trends suggest a flat to negative opening for the benchmark indices, with a loss of 30 points or 0.16 percent. Nifty futures were observed trading near the 19,049.50 level.

On Wednesday, oil prices surged by approximately 2 per cent, driven by concerns over Middle East conflicts. However, these gains were limited by the presence of elevated U.S. crude inventories and pessimistic economic outlooks in Europe. Brent crude futures experienced a notable increase of USD 2.06, equivalent to a 2.34 per cent rise, ultimately settling at $90.13 per barrel.

On October 25, foreign institutional investors (FII) offloaded shares worth Rs 4,236.60 crore, while domestic institutional investors (DII) purchased shares worth Rs 3,569.36 crore.

Stocks that are banned for trading in the F&O segment on October 26, 2023, is DELTACORP, RBLBANK.