Market Wrap: Benchmark indices close on a negative note with Nifty Fin Service and Nifty Pharma among top losers
Sensex closed lower by 0.53 per cent and closed at 79,742.12, while Nifty closed lower by 0.48 per cent and closed at 24,340.85 level.
Market Update at 3:35 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 0.53 per cent and closed at 79,742.12, while Nifty closed lower by 0.48 per cent and closed at 24,340.85 level. Similarly, the Broader market, Nifty Midcap closed higher by 0.16 per cent at 56,339.25, while Nifty Smallcap closed higher by 1.05 per cent and closed at 18,390.90.
Market volatility, as indicated by India VIX, rose by 6.54 per cent and is trading at the level of 15.47 reflecting a rise in market volatility.
Within the sectoral landscape, Nifty Media, Nifty FMCG, and Nifty Realty sector emerged as Top Gainers, while Nifty Fin Service, Nifty Pharma, and Nifty IT underperformed.
ADANIENT, HEROMOTOCO, and TATACONSUM were among the top gainers while on the other hand CIPLA, SHRIRAMFIN, and TRENT were among the Top Losers.
About 1,735 stocks were advancing as against to 605 that were declining, thus indicating a positive sentiment in the broader market.
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Market Update at 2:00 PM: During the ongoing trading session, benchmark indices are showing a negative trend, with the Sensex down by 0.46 per cent and the Nifty down by 0.43 per cent. However, in the broader market, the Nifty Midcap up by 0.42 per cent, while the Nifty Smallcap rose by 1.13 per cent.
India VIX rose by 6.27 per cent and is trading around the mark of 15.43, indicating a rise in market volatility.
In the sectoral landscape Nifty Media emerged as top gainers, while Nifty Fin Service sector is underperforming.
Top gainers in individual stocks are ADANIENT, MARUTI, and TATACONSUM while, CIPLA, TRENT, and SHRIRAMFIN are among the top losers in the Nifty 50.
The broader market sentiment is positive, with 1,799 stocks advancing compared to 557 stocks declining.
Market Update at 9:35 AM: On Wednesday, markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Media led the gains and Nifty Pharma was the biggest laggard.
As of now, the Sensex is down by 0.32 per cent, hovering around 80,100, and Nifty is down by 0.29 per cent, trading near 24,390. However, in the broader market, the Nifty Midcap rose about 0.26 per cent to about 56,400, and the Nifty Smallcap is up by 0.77 per cent, trading near 18,340.
India VIX up by 4.13 per cent and is trading at 15.12, indicating a rise in market volatility.
Within the sectoral landscape Nifty Media, Nifty FMCG and Nifty Auto are among the top gainers while Nifty Pharma, Nifty Bank and Nifty Fin Service are underperforming.
MARUTI, BEL, and COALINDIA are among the top gainers within the Nifty 50 while CIPLA, DRREDDY, and SUNPHARMA are among the top losers.
About 1,730 stocks are advancing as against to 510 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 8:05 AM: The Nasdaq hit a new record high, closing up 0.78 per cent at 18,712.75, while the S&P 500 gained 0.16 per cent to reach 5,832.97 on Tuesday. Meanwhile, the Dow dropped 0.36 per cent, ending the session at 42,233.05, as investors reviewed corporate earnings and awaited Alphabet's results.
The GIFT Nifty is trading flat, indicating a muted start for the day. Nifty futures were trading at 24,615.50.
The U.S. 10-year Treasury yield stands at 4.246 per cent, while the 2-year bond yield at 4.096 per cent.
Oil prices steadied on Wednesday after industry data showed an unexpected decline in U.S. crude and gasoline inventories, following recent losses amid hopes for easing Middle East tensions.
Brent crude rose 21 cents, or 0.3 per cent, to $71.33 a barrel, while U.S. West Texas Intermediate increased 22 cents, or 0.3 per cent, to $67.43 per barrel.
On October 29 2024, foreign institutional investors (FII) sold shares worth Rs 548 crore, while domestic institutional investors (DII) bought shares worth Rs 730 crore.
Stocks that are banned for trading in the F&O segment on October 29, 2024, are IDFCFIRSTB, INDIAMART, LTF, MANAPPURAM, PNB, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.