Market Wrap: Benchmark indices close on a negative note with Nifty PSU Bank among the top gainers!

On Tuesday, Frontline indices concluded the day on a negative note as Sensex closed substantially lower by 1.11 per cent concluding at 71,139.90 level, while Nifty plummeted by 0.99 per cent and closed at 21,522.10 level.

Market Update at 3:40 PM: On Tuesday, Frontline indices concluded the day on a negative note as Sensex closed substantially lower by 1.11 per cent concluding at 71,139.90 level, while Nifty plummeted by 0.99 per cent and closed at 21,522.10 level. Whereas the Broader market exhibited a performance trend as Nifty Midcap closed moderately lower by 0.39 per cent, while Nifty Smallcap soared by 0.23 per cent.

Market volatility, as indicated by India VIX, has spiked up by 2.69 per cent, reflecting a surge in market volatility.

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

BPCL, Tata Motors and Grasim were among the top gainers while Bajaj Finance, Titan and Ultratech Cement were among the top losing stocks from the Nifty 50.

About 1047 stocks were advancing as against to 1179 stocks that were declining, thus indicating a slight pessimist sentiment in the broader market.

Market Update at 2:00 PM: In the current trading session benchmark indices trade on a negative note with the Sensex declining by 0.51 per cent, whereas Nifty also plummeted by 0.36 per cent. Whereas, Nifty Midcap has soared by 0.4 per cent, while Nifty Smallcap trades significantly higher by 1.05 per cent.

India VIX is currently trading substantially higher by 1.34 per cent, indicating a marginal surge in market volatility.

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

BPCL, Tata Motors and Hindalco are among the top gainers while Bajaj Finance, NTPC and Bajaj Finserv are among the top losing stocks from the Nifty 50.

About 1380 stocks are advancing as against to 845 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade moderately lower with the Sensex plunging by 0.35 per cent, while Nifty also plummeted by 0.16 per cent. Similarly, in the broader indices Nifty Midcap surged by 0.42 per cent, while Nifty Smallcap surged by 1 per cent.

India VIX is currently trading marginally higher by 2.3 per cent, indicating a marginal increase in market volatility.

European markets are heading for a higher open on Tuesday with investors keeping an eye on preliminary fourth quarter GDP figures due to be released by the Euro Zone. European futures CAC and FTSE trades higher by 0.35 per cent and 0.45 per cent while DAX trades marginally lower by 0.04 per cent.

Nifty PSU Bank, Nifty Media and Nifty Metal are among the top gainers, while Nifty Financial Services, Nifty Energy and Nifty FMCG are among the top losers.

BPCL, Hindalco and Tata Motors are among the top gainers while Bajaj Finance, ITC and Bajaj Finserv are among the top losing stocks from the Nifty 50.

About 1340 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 lower note, with Sensex moderately declining by 0.47 per cent and Nifty is also showing moderate decline of 0.26 per cent. Whereas in the broader indices Nifty Midcap experienced marginal gains of 0.08 per cent, while Nifty Smallcap soared by 0.87 per cent.

India VIX is trading moderately higher by 2.52 per cent, indicating a marginal increase in market volatility.

Noteworthy gainers include Nifty Media, Nifty Metal and Nifty PSU Bank, while Nifty Financial Services, Nifty Energy and Nifty Pharma were among the top losers.

Top gainers in individual stocks are BPCL, ONGC, and JSW Steel, whereas Bajaj Finance, ITC, and Reliance are among the leading losers in the Nifty 50.

The broader market sentiment remains positive, with 1348 stocks advancing compared to 858 declining.

Market Update at 9:25 AM: On Tuesday, Indian markets initiated the trading day on a negative note with the Sensex opening lower by 0.16 per cent, while Nifty also opened marginally lower by 0.13 per cent. Whereas Nifty Midcap opened marginally higher by 0.06 per cent, whereas Nifty Smallcap opened moderately higher by 038 per cent.

India VIX has surged by 4.80 per cent, indicating a moderate increase in market volatility.

Nifty IT, Nifty Metal and Nifty Realty are among the top gainers while Nifty PSU Bank, Nifty Energy and Nifty Financial Services are among the top losers.

Hindalco, Bharti Airtel and JSW Steel are among the top gainers while Bajaj Finance, Bajaj Finserv and SBI Life are among the top losing stocks from the Nifty 50.

About 1495 stocks are advancing as against to 537 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:00 AM: Monday saw US stocks climbing as investors anticipated a series of significant earnings reports, economic updates, and the Federal Reserve's policy gathering later in the week.

The Dow Jones Industrial Average surged by 224.02 points, equivalent to 0.59 per cent, closing at 38,333.45. Similarly, the S&P 500 experienced an increase of 36.96 points, or 0.76 per cent, reaching 4,927.93, while the Nasdaq Composite rose by 172.68 points, or 1.12 per cent, to 15,628.04.

The GIFT Nifty trends suggest a neutral beginning for the benchmark indices, showing a slight increase of 17 points or 0.08 per cent. Nifty futures were observed trading near the 21,973 level.

On Monday, oil prices experienced a decline of over one dollar per barrel due to concerns over China's struggling property sector, prompting traders to reconsider the supply risk premium stemming from increasing tensions in the Middle East.

Brent crude futures dipped by USD 1.15, equivalent to a 1.4 per cent decrease, settling at USD 82.40 per barrel, while US West Texas Intermediate crude futures saw a drop of USD 1.23, or 1.6 per cent, reaching USD 76.78 per barrel.

On Tuesday, the dollar maintained tight trading ranges against its main counterparts as investors awaited the Federal Reserve's monetary policy announcement for indications regarding potential interest rate cuts by the U.S. central bank.

On January 29, 2024, foreign institutional investors (FII) bought shares worth Rs 110.01 crore, while domestic institutional investors (DII) bought shares worth Rs 3,221.34 crore.