Market Wrap: Benchmark indices close on a mixed note with Nifty Financial Services among the top losers!

On Friday, Benchmark indices concluded the last trading day of the week a mixed note as Sensex declined by 0.07per cent and closed below the 80,000 mark, while Nifty surged by 0.09 per cent and closed at 24,323.85 level.

Market Update at 3:40 PM: On Friday, Benchmark indices concluded the last trading day of the week a mixed note as Sensex declined by 0.07per cent and closed below the 80,000 mark, while Nifty surged by 0.09 per cent and closed at 24,323.85 level. Similarly, the Broader market experienced significant gains as Nifty Midcap closed higher by 0.83 per cent making a new record high at 57,129.25 level, while Nifty Smallcap soared by 0.79 per cent and reached its all-time high at 18,993.60 level.

Market volatility, as indicated by India VIX, has declined by 1.5 per cent and is trading below the level of 13 reflecting a slight decrease in market volatility.

Within the sectoral landscape, Nifty Energy, Nifty Pharma and Nifty PSU Bank were among the top gainers, while Nifty Financial Services, Nifty Bank and Nifty Realty are the sectors which underperformed.

ONGC, SBI and Reliance were among the top gainers while on the other hand HDFC Bank, Titan and Tata Steel were among the top losers.

About 1356 stocks were advancing as against to 935 that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:25 PM: In the current trading session benchmark indices have declined with Sensex trading lower by 0.24 per cent while Nifty also plunged by 0.08 per cent. Whereas, in the broader indices Nifty Midcap has gained by 0.61 per cent, while Nifty Smallcap has soared by 0.98 per cent.

India VIX is has marginally declined by 0.25 per cent and is trading around the mark of 12 indicating a slight decrease in market volatility.

European stocks are expected to open higher on Friday as the U.K.’s general election draws focus in the region. European futures DAX, CAC and FTSE trade higher by 0.24 per cent, 0.53 per cent and 0.33 per cent respectively.

Within the sectoral landscape Nifty Pharma, Nifty Energy and Nifty PSU Bank are among the top gainers while Nifty Financial Services, Nifty Bank and Nifty Realty are among the top losers.

ONGC, Divi’s Laboratories and Cipla are among the top gainers within the Nifty 50 while, HDFC Bank, Titan and M&M are among the top losers.

About 1415 stocks are advancing as against to 875 stocks that are declining, thus indicating a positive 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 0.41 per cent, while Nifty declined by 0.25 per cent. Whereas in the broader indices Nifty Midcap experience gains of 0.32 per cent and reached its a new all-time high at 56,859.70 level, while Nifty Smallcap has surged by 0.83 per cent and has also made a new record high at 18,969.35 level.

India VIX is has declined by 1.42 per cent and is trading around the mark of 12, indicating a slight decrease in market volatility.

Within the sectoral landscape, Nifty Pharma, Nifty Energy and Nifty PSU Bank are among the top gainers while Nifty Financial Services, Nifty Bank and Nifty Realty are among the top losers.

Top gainers in individual stocks are ONGC, Divi’s Laboratories and Cipla whereas, HDFC Bank, Titan and M&M are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1309 stocks advancing compared to 973 stocks declining.

Market Update at 9:35 AM: On Friday, Indian markets opened on a negative note, with Nifty and Sensex experiencing significant losses while, the Broader indices displayed positive performance, making new highs. Nifty Pharma emerged as the top gainer, while Nifty Financial Services experienced the largest losses.

The Sensex is trading down by 0.67 per cent trading below the 79,600 mark while the Nifty has also plunged by 0.51 per cent and is trading below the 24,200 level. Whereas, in the broader, the Nifty Midcap gained by 0.07 per cent after making an all-time high at 56,727.55 level while the Nifty Smallcap surged by 0.41 per cent and made a record high at 18,894.95 mark.

India VIX has slightly gained by 0.47 per cent and is trading around the mark of 13, indicating marginal increase in market volatility.

Within the sectoral landscape Nifty Pharma, Nifty FMCG and Nifty IT were among the top gainers while Nifty Financial Services, Nifty Bank and Nifty Realty are the sectors which are underperforming.

Cipla, Divi’s Laboratories and Bajaj Auto are among the top gainers within the Nifty 50 while HDFC Bank, M&M and Tata Steel are among the top losers.

About 1215 stocks are advancing as against to 970 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:25 AM:  U.S. markets were closed on Thursday for Independence Day.

On Friday, the 10-year Treasury yield was up 27 basis points at 4.37 per cent, and the 2-year yield rose by 4 basis points to 4.70 per cent.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a slight decline of 0.08 per cent or 20 points. Nifty futures are currently trading near the 24,375.20 mark.

Oil prices edged up in Asian trading on Friday, reaching a two-month high, driven by optimism over increased summer demand and potential supply disruptions.

Brent crude futures for September delivery increased by 0.1 per cent to USD 87.55 per barrel, while West Texas Intermediate crude futures also rose by 0.1 per cent to USD 83.14 per barrel.

On July 04, 2024, foreign institutional investors (FII) bought shares worth Rs 2,575.85 crore, while domestic institutional investors (DII) offloaded shares worth Rs 2,375.18 crore.

Stocks that are banned for trading in the F&O segment on July 05, 2024, are ABFRL, BANDHANBNK, HINDCOPPER, INDIACEM and PEL.