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

In Friday's trading session, benchmark indices concluded the day on a lower note, with the Sensex and Nifty closing lower by 0.28 per cent and 0.17 per cent respectively.

Market Update at 3:50 PM: In Friday's trading session, benchmark indices concluded the day on a lower note, with the Sensex and Nifty closing lower by 0.28 per cent and 0.17 per cent respectively. Conversely, broader indices displayed resilience, with Nifty Midcap and Nifty Smallcap surging by 0.2 per cent and 0.09 per cent respectively.

Market volatility, as indicated by India VIX, has witnessed a 1.55 per cent surge, reflecting a minor increase in market uncertainty.

Notable sectoral movements highlight Nifty Pharma, Nifty Auto, and Nifty FMCG as the top gainers, while Nifty PSU Bank, Nifty Bank, and Nifty Financial Services grapple with losses.

Individual stock performances depict SBI Life, HDFC Life, and Apollo Hospitals as the leading gainers, showcasing substantial positive movements. Conversely, SBI, Axis Bank, and ONGC find themselves among the top losers within the Nifty 50.

The broader market sentiment remains positive, with around 1027 advancing stocks compared to 1008 declining ones, indicating a slight optimistic trend in the broader market.

Market Update at 2:25 PM: In the current trading session, the Sensex and Nifty are navigating a marginal downturn of 0.15 per cent and 0.06 per cent respectively. Simultaneously, Nifty Midcap is on an upward trajectory, displaying a 0.18 per cent increase, while Nifty Smallcap reflects a positive trend with a 0.08 per cent rise.

The India VIX has seen a notable 2.51 per cent surge, signalling an increase in market volatility.

Noteworthy sectoral movements showcase Nifty Pharma, Nifty Auto, and Nifty Media as the frontrunners in gains, while Nifty PSU Bank, Nifty Bank, and Nifty Financial Services grapple with losses.

Individual stock performances spotlight SBI Life, HDFC Life, and Apollo Hospitals as the primary gainers, demonstrating substantial positive movements. Conversely, SBI, Axis Bank, and ONGC find themselves among the prominent losers within the Nifty 50.

Despite the nuanced market dynamics, the broader market sentiment remains positive, with approximately 1058 advancing stocks compared to 973 declining ones, pointing towards an optimistic trend in the broader market.

Market Update at 12:35 PM: In the current trading session, the Sensex is observing a marginal downturn of 0.09 per cent and Nifty is trading marginally higher by 0.03 per cent respectively. In contrast, Nifty Midcap is on an upward trajectory, showing a 0.27 per cent increase, while Nifty Smallcap displays a more pronounced positive trend with a 0.62 per cent rise.

The India VIX has experienced a notable 3.65 per cent surge, signalling an uptick in market volatility.

European markets are set to open on a higher note as European futures, DAX, FTSE and CAC trade higher by 0.22 per cent, 0.28 per cent and 0.27 per cent respectively.

Sectoral dynamics reveal Nifty Media, Nifty FMCG, and Nifty Pharma as standout gainers, while Nifty PSU Bank, Nifty Bank, and Nifty Financial Services grapple with losses.

In terms of individual stocks, SBI Life, HDFC Life, and Apollo Hospitals lead the gainers, showcasing significant positive movements. Conversely, SBI, Axis Bank, and ONGC find themselves among the prominent losers within the Nifty 50.

Despite the mixed trends, the broader market sentiment remains optimistic, with approximately 1180 advancing stocks compared to 835 declining ones, indicating a positive trend in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, benchmark indices are trading on a mixed note with Sensex trading lower by 0.06 per cent and Nifty trading higher by 0.09 per cent respectively. Simultaneously, Nifty Midcap is trading higher by 0.2 per cent, and Nifty Smallcap is showing a positive trend with a 0.5 per cent increase.

The India VIX has witnessed a 1.93 per cent surge, suggesting a rise in market volatility.

Notable sectoral movements highlight Nifty Media, Nifty Auto, and Nifty Pharma as the top gainers, while Nifty PSU Bank, Nifty Bank, and Nifty Financial Services are undergoing losses.

Individual stock performances depict SBI Life, HDFC Life, and Asian Paints as the leading gainers, demonstrating substantial positive movements. Conversely, SBI, Axis Bank, and ONGC find themselves among the top losers within the Nifty 50.

The broader market sentiment remains positive, with around 1264 advancing stocks compared to 734 declining ones, indicating an optimistic trend in the broader market.

Market Update at 9:30 AM: On Friday, the Indian benchmark indices initiated the trading session on a slightly lower note, with the Sensex dipping by 0.13 per cent and the Nifty edging down by 0.06 per cent. Conversely, the Nifty Midcap made a marginal uptick of 0.11 per cent, and the Nifty Smallcap opened with a modest gain of 0.4 per cent.

The volatility index, India VIX, exhibited a 4.6 per cent surge, signalling a minor uptick in market volatility.

Noteworthy sectoral movements saw Nifty Auto, Nifty Media, and Nifty Pharma emerging as the top gainers, while Nifty PSU Bank, Nifty Bank, and Nifty Financial Services faced losses.

Individual stock performances showcased Asian Paints, Bajaj Auto, and Divi’s Laboratories as the leading gainers, each demonstrating robust positive movements. In contrast, SBI, Axis Bank, and Bajaj Finance found themselves among the top losers within the Nifty 50.

The broader market sentiment reflected positivity, with approximately 1342 advancing stocks against 537 declining ones, indicating an optimistic outlook in the broader market.

Pre-Market Update at 7:55 AM: US Stock futures hovered around the neutral zone on Thursday evening as investors aimed to sustain the gains for this month. Dow Jones Industrial Average futures edged up by 0.06 per cent. S&P 500 futures saw a 0.06 per cent increase, while Nasdaq 100 futures experienced a slight decline of 0.05 per cent. In the regular trading session, the Dow, comprising 30 stocks, concluded the session with a 0.13 per cent decrease, breaking a four-session winning streak. The S&P 500 posted a gain of 0.12 per cent, and the Nasdaq Composite closed 0.07 per cent higher.

The GIFT Nifty suggests a slightly positive beginning for the benchmark indices, showing an increase of 19.5 points. GIFT Nifty futures settled at 19,809 points after reaching a peak of 19,843 points.

US crude prices experienced a decline of over 4 per cent on Thursday, driven by an increase in inventories coupled with a decrease in industrial production. The Brent January contract saw a significant drop of USD 3.59, equivalent to 4.42 per cent, settling at USD 77.59 per barrel. Both US crude and the global benchmark were trading at their lowest levels since early July.

In October, US industrial production contracted by 0.6 per cent, attributed to the impact of the United Auto Workers strike on motor vehicle output, as indicated by data released by the Federal Reserve on Thursday. Simultaneously, the Dollar index traded 0.06 per cent lower in futures at 104.40, while the value of one dollar remained close to Rs 83.23.

On November 16, 2023, foreign institutional investors (FII) bought shares worth Rs 957.25 crore, while domestic institutional investors (DII) purchased shares worth Rs 705.65 crore.

Stock that are banned for trading in the F&O segment on November 17, 2023, are CHAMBLFERT, DELTACORP, HINDCOPPER, INDIACEM, MANAPPURAM, MCX, SAIL and ZEEL.