Market Wrap: Benchmark indices close on a negative note while Nifty Smallcap outperformed!

On Thursday, Frontline indices concluded the day on a positive note as Sensex closed marginally lower by 0.15 per cent concluding at 71,645.30 level, while Nifty plunged by 0.13 per cent and closed at 21,697.45 level.

Market Update at 3:45 PM: On Thursday, Frontline indices concluded the day on a positive note as Sensex closed marginally lower by 0.15 per cent concluding at 71,645.30 level, while Nifty plunged by 0.13 per cent and closed at 21,697.45 level. Whereas the Broader market experienced mixed performance as Nifty Midcap closed moderately lower by 0.56 per cent, while Nifty Smallcap soared by 0.63 per cent.

Market volatility, as indicated by India VIX, has declined by 9.92 per cent, reflecting a decline in market volatility.

Nifty PSU Bank, Nifty Auto, Nifty Energy and Nifty Bank were among the top gainers while Nifty Media, Nifty Metal, Nifty Realty and Nifty Pharma were among the top losers.

Maruti, Cipla and Power Grid were among the top gainers while Ultratech Cement, L&T and Grasim were among the top losing stocks from the Nifty 50.

About 965 stocks were advancing as against to 1281 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 declining by 0.12 per cent, while Nifty marginally surged by 0.08 per cent. Similarly, in the broader indices Nifty Midcap plunged by 0.75 per cent, while Nifty Smallcap marginally gained 0.03 per cent.

India VIX is currently trading substantially lower by 9.74 per cent, indicating a decrease in market volatility.

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

Maruti, Power Grid and Cipla are among the top gainers while Dr Reddy’s Laboratories, L&T and Grasim are among the top losing stocks from the Nifty 50.

About 918 stocks are advancing as against to 1326 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:30 PM: In the current trading session benchmark indices trade marginally lower with the Sensex declining by 0.01 per cent, while Nifty also marginally declined by 0.01 per cent. Similarly, in the broader indices Nifty Midcap plunged by 0.87 per cent, while Nifty Smallcap plummeted by 0.23 per cent.

India VIX is currently trading lower by 6.96 per cent, indicating a decrease in market volatility.

European markets are heading for a lower open ahead of Euro Zone Inflation data for January and the Bank of England’s latest Monetary Policy decision on Thursday. European futures DAX, CAC and FTSE trades lower by 0.31 per cent, 0.34 per cent and 0.4 per cent respectively.

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

Maruti, SBI Life and Cipla are among the top gainers while L&T, Dr Reddy’s Laboratories and LTIMindtree are among the top losing stocks from the Nifty 50.

About 903 stocks are advancing as against to 1320 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 higher note, with Sensex surging by 0.38 per cent and Nifty is also showing gain of 0.31 per cent. Whereas in the broader indices Nifty Midcap experiences moderate decline of 0.39 per cent, while Nifty Smallcap marginally surged by 0.08 per cent.

India VIX is trading marginally lower by 1.98 per cent, indicating a marginal decrease in market volatility.

Noteworthy gainers include Nifty Auto, Nifty FMCG and Nifty Energy, while Nifty Pharma, Nifty Realty and Nifty Metal are among the top losers.

Top gainers in individual stocks are Maruti, Power Grid and M&M, whereas Dr Reddy’s Laboratories, ONGC, and LTIMindtree are among the leading losers in the Nifty 50.

The broader market sentiment remains slightly negative, with 1061 stocks advancing compared to 1160 declining.

Market Update at 9:35 AM: On Thursday, Indian markets initiated the trading day on a positive note with the Sensex opening marginally higher by 0.01 per cent, while Nifty also opened marginally higher by 0.1 per cent. Whereas Nifty Midcap opened marginally lower by 0.02 per cent, whereas Nifty Smallcap opened moderately higher 0.49 per cent.

India VIX has declined by 1.23 per cent, indicating a marginal decrease in market volatility.

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

Eicher Motors, BPCL and Power Grid are among the top gainers while LTIMindtree, Grasim and L&T are among the top losing stocks from the Nifty 50.

About 1142 stocks are advancing as against to 943 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: On the final trading day of January, US stocks experienced a sharp decline following the Federal Reserve's decision to maintain interest rates, disappointing investors hoping for an imminent rate cut by March.

The tech-heavy indices were already under pressure due to weakness in tech and tech-related megacap stocks, exacerbated by disappointing results from Alphabet. After the Fed's announcement and Chair Jerome Powell's subsequent press conference, all three indices extended their losses, with the S&P 500 marking its most significant daily decline since September 21.

Despite the downturn, all three indices still recorded gains for the month. As anticipated, the Federal Open Markets Committee (FOMC) left its key policy rate unchanged at 5.25-5.50 per cent, against a backdrop of moderating inflation and a resilient economy. The Dow Jones Industrial Average dropped 317.01 points (0.82 per cent) to 38,150.30, the S&P 500 decreased by 79.32 points (1.61 per cent) to 4,845.65, and the Nasdaq Composite declined by 345.88 points (2.23 per cent) to 15,164.01.

The GIFT Nifty trends suggest an optimistic beginning for the benchmark indices in India, with a gain of 34 points or 0.16 per cent. Nifty futures were observed trading near the 21,786 level.

On Wednesday, oil prices closed lower due to subdued economic activity in China, a major importer of crude, and an unexpected increase in US crude inventories as producers boosted output following severe weather conditions earlier in the month.

March Brent crude futures, expiring on Wednesday, settled at USD 81.71 per barrel, down USD 1.16 or approximately 1.4 per cent, while the more actively traded April contract concluded at USD 80.55, down USD 1.89 or around 2.3 per cent.

US West Texas Intermediate crude futures finished at USD 75.85, down USD 1.97 or roughly 2.5 per cent. Both benchmarks experienced declines of over USD 2 per barrel earlier during the trading session.

On January 31, 2024, foreign institutional investors (FII) bought shares worth Rs 1,660.72 crore, while domestic institutional investors (DII) bought shares worth Rs 2,542.93 crore.

Stocks that are banned for trading in the F&O segment on February 01, 2024, are SAIL and ZEEL.