Market Wrap: Benchmark indices close on a negative note with Nifty IT gaining over 2 per cent!
Sensex closed lower by 0.17 per cent and closed at 80,081.98, while Nifty closed lower by 0.15 per cent and closed at 24,435.50 level.
Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 0.17 per cent and closed at 80,081.98, while Nifty closed lower by 0.15 per cent and closed at 24,435.50 level. However, the Broader market, Nifty Midcap closed higher by 0.64 per cent at 56,533.55, while Nifty Smallcap closed higher by 1.25 per cent and closed at 18,286.20.
Market volatility, as indicated by India VIX, rose by 1.53 per cent and is trading at the level of 14.62 reflecting a rise in market volatility.
Within the sectoral landscape, Nifty IT, Nifty MID SELECT and Nifty PSU Bank sector emerged as Top Gainers, while Nifty Pharma, Nifty Auto and Nifty Energy are the sectors which underperformed.
BAJFINANCE, TECHM and BAJAJ-AUTO were among the top gainers while on the other hand M&M, SUNPHARMA, and POWERGRID were among the Top Losers.
About 1,332 stocks were advancing as against to 1,039 that were declining, thus indicating a positive sentiment in the broader market.
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Market Update at 11:55 PM: During the ongoing trading session, benchmark indices are showing a positive trend, with the Sensex up by 0.44 per cent and the Nifty up by 0.45 per cent. However, in the broader market, the Nifty Midcap rose by 1.14 per cent, while the Nifty Smallcap rose by 1.69 per cent.
India VIX rose by 0.21 per cent and is trading around the mark of 14.43, indicating a slight rise in market volatility.
In the sectoral landscape Nifty IT, Nifty MID SELECT and Nifty Metal emerged as top gainers, while Nifty Energy is underperforming.
Top gainers in individual stocks are BAJFINANCE, BAJAJ-FINSV, and BAJAJ-AUTO while, NTPC, ICICIBANK, and EICHERMOT are among the top losers in the Nifty 50.
The broader market sentiment is positive, with 1,675 stocks advancing compared to 688 stocks declining.
Market Update at 9:45 AM: On Wednesday, Indian markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty IT led the gains and Nifty Realty was the biggest laggard.
As of now, the Sensex is down by 0.20 per cent, hovering around 80,070, and Nifty is down by 0.27 per cent, trading near 24,410. Similarly, in the broader market, the Nifty Midcap declined about 0.44 per cent to about 55,900, and the Nifty Smallcap is down by 0.55 per cent, trading near 17,960.
India VIX up by 4.03 per cent and is trading at 14.98, indicating a rise in market volatility.
Within the sectoral landscape Nifty Fin Service, Nifty IT and Nifty FMCG are among the top gainers while Nifty Realty, Nifty Energy and Nifty PSU Bank are underperforming.
BAJFINANCE, BAJAJFINSV, and HDFCBANK are among the top gainers within the Nifty 50 while NTPC, POWERGRID, and M&M are among the top losers.
About 750 stocks are advancing as against to 1,535 stocks that are declining, thus indicating a negative sentiment in the broader market.
Pre-Market Update at 8:30 AM: US stocks were mostly flat on Tuesday, with the Nasdaq making a modest gain as investors monitored Treasury yields and awaited earnings reports.
The Dow slipped 6.71 points, or 0.02 per cent, to 42,924.89, the S&P 500 dipped 2.78 points, or 0.05 per cent, to 5,851.20, while the Nasdaq rose 33.12 points, or 0.18 per cent, to 18,573.13.
The GIFT Nifty is trading slightly positive, indicating a flat start for the day. Nifty futures were trading at 24,670.60.
The U.S. 10-year Treasury yield stands at 4.21 per cent, while the 2-year bond yield at 4.04 per cent.
Oil prices slipped on Wednesday after data revealed a larger-than-expected rise in U.S. crude inventories. Meanwhile, the market remained focused on diplomatic efforts in the Middle East as Israel continued its strikes on Gaza and Lebanon.
Brent crude futures fell 31 cents, or 0.4 per cent, to $75.73 a barrel, while U.S. West Texas Intermediate crude dropped 32 cents, or 0.5 per cent, to $71.42 per barrel.
On October 22 2024, foreign institutional investors (FII) sold shares worth Rs 3,978 crore, while domestic institutional investors (DII) bought shares worth Rs 5,869 crore.
Stocks that are banned for trading in the F&O segment on October 23, 2024, are AARTIIND, BANDHANBNK, BSOFT, CHAMBLFERT, GNFC, IEX, INDIAMART, LTF, MANAPPURAM, PEL, PNB, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.