Market Wrap: Benchmark indices close on a negative note with Nifty Metal and Nifty Pharma among top losers!
Sensex closed lower by 1.04 per cent and closed at 79,541.79, while Nifty closed lower by 1.16 per cent and closed at 24,199.35 level.
Market Update at 3:35 PM: On Thursday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 1.04 per cent and closed at 79,541.79, while Nifty closed lower by 1.16 per cent and closed at 24,199.35 level. Similarly, the Broader market, Nifty Midcap closed lower by 0.43 per cent at 57,109.15, while Nifty Smallcap closed lower by 0.75 per cent and closed at 18,763.85.
Market volatility, as indicated by India VIX, rose by 0.47 per cent and is trading at the level of 14.94 reflecting a slight rise in market volatility.
Within the sectoral landscape, no sector emerged as Top Gainers, while Nifty Metal, Nifty Pharma, and Nifty Energy sector underperformed.
APOLLOHOSP, SBIN, and HDFCLIFE were among the top gainers while on the other hand HINDALCO, TRENT, and SHRIRAMFIN were among the Top Losers.
About 822 stocks were advancing as against to 1,552 that were declining, thus indicating a negative sentiment in the broader market.
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Market Update at 12:10 PM: During the ongoing trading session, benchmark indices are showing a negative trend, with the Sensex down by 1.07 per cent and the Nifty down by 1.13 per cent. However, in the broader market, the Nifty Midcap down by 0.24 per cent, while the Nifty Smallcap declined by 0.33 per cent.
India VIX rose by 2.15 per cent and is trading around the mark of 15.19, indicating a rise in market volatility.
In the sectoral landscape Nifty Media sector emerged as top gainers, while Nifty Metal, Nifty Pharma, and Nifty Energy sectors are underperforming.
Top gainers in individual stocks are APOLLOHOSP, HDFCLIFE, and TATASTEEL while, HINDALCO, GRASIM and SHRIRAMFIN are among the top losers in the Nifty 50.
The broader market sentiment is negative, with 976 stocks advancing compared to 1,387 stocks declining.
Market Update at 9:30 AM: On Thursday, markets opened on a positive note, with both Nifty and Sensex showing positive movement. Nifty IT led the gains and Nifty Metal was the biggest laggard.
As of now, the Sensex is down by 0.49 per cent, hovering around 79,980, and Nifty is down by 0.55 per cent, trading near 24,350. However, in the broader market, the Nifty Midcap rose about 0.28 per cent to about 57,510, and the Nifty Smallcap is down by 0.07 per cent, trading near 18,890.
India VIX up by 1.95 per cent and is trading at 15.15, indicating a slight rise in market volatility.
Within the sectoral landscape Nifty IT, Nifty Realty, and Nifty Media sector is among the top gainers while Nifty Metal, Nifty Fin Service and Nifty Auto is underperforming.
APOLLOHOSP, TATASTEEL, and COALINDIA are among the top gainers within the Nifty 50 while HINDALCO, ADANIENT, and BAJAJ-FINSV are among the top losers.
About 1,204 stocks are advancing as against to 1,039 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 8:30 AM: The Dow Jones Industrial Average surged 1,508.05 points (3.57 per cent) to 43,729.93, while the S&P 500 rose 146.28 points (2.53 per cent) to 5,929.04, and the Nasdaq Composite added 544.29 points (2.95 per cent) to 18,983.47. This marked the largest single-day percentage gain for both the Dow and S&P 500 since November 2022, and the biggest for the Nasdaq since February.
Financials led the S&P 500 sectors, climbing 6.16 per cent, with banks driving the surge. The S&P 500 bank index jumped 10.68 per cent, its largest daily increase in two years, amid expectations of eased regulations.
The GIFT Nifty is trading weak, indicating a negative start for the day. Nifty futures were trading at 24,595.00.
The U.S. 10-year Treasury yield stands at 4.426 per cent, while the 2-year bond yield at 4.256 per cent.
WTI crude rose to around $72 per barrel, and Brent crude surpassed $75 per barrel as investors assessed the impact of Donald Trump’s election win on oil markets.
A Trump administration is expected to boost US economic growth through spending and tax cuts, supporting oil consumption and US producers. However, there are concerns about how Trump's trade tariffs could impact China’s economy and reduce oil demand from the world's largest importer.
On November 6 2024, foreign institutional investors (FII) sold shares worth Rs 4,445 crore, while domestic institutional investors (DII) bought shares worth Rs 4,889 crore.
As of November 7, 2024, no stocks are under the F&O segment trading ban.
Disclaimer: The article is for informational purposes only and not investment advice.