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

Sensex declined by -1.24 per cent and closed at 81,183.93, while Nifty declined by -1.17 per cent and closed at 24,852.15 level.

Market Update at 3:40 PM: On Friday, Benchmark indices concluded the trading day on a negative note as Sensex declined by -1.24 per cent and closed at 81,183.93, while Nifty declined by -1.17 per cent and closed at 24,852.15 level. Similarly, the Broader market, Nifty Midcap closed lower by -1.59 per cent at 58,501.95, while Nifty Smallcap declined by -1.25 per cent and closed at 19,276.05.

Market volatility, as indicated by India VIX, has surged by 7.11 per cent and is trading at the level of 15.22 reflecting a rise in market volatility.

Within the sectoral landscape, no sector emerged as Top Gainers, while Nifty PSU Bank, Nifty Bank, and Nifty Energy are the sectors which underperformed.

ASIANPAINT, BAJFINANCE, and JSWSTEEL were among the top gainers while on the other hand SBIN, BPCL, and ICICIBANK were among the Top Losers.

About 581 stocks were advancing as against to 1,794 that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices have declined with Sensex trading lower by 0.89 per cent while Nifty trading lower by 0.80 per cent. Similarly, in the broader indices Nifty Midcap has declined by 0.82 per cent, while Nifty Smallcap declined by 0.52 per cent.

India VIX has surged by 3.73 per cent and is trading around the mark of 14.73 indicating a rise in market volatility.

European Stocks are set to open lower, after clocking losses in four straight sessions this week. European Futures; DAX (-0.27 per cent), CAC (-0.12 per cent), and FTSE (-0.05 per cent).

Within the sectoral landscape only Nifty Metal is among the top gainers while Nifty PSU Bank, Nifty Energy and Nifty Bank are the sectors which are underperforming.

LTIM, BAJFINANCE, and JSWSTEEL are among the top gainers within the Nifty 50 while, SBIN, HCLTECH, and ITC are among the top losers.

About 780 stocks are advancing as against to 1,585 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:30 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex trading lower by 1.05 per cent, while Nifty trading lower by 0.99 per cent. Similarly, in the broader indices Nifty Midcap experience a decline of 1.20 per cent, while Nifty Smallcap has declined by 0.90 per cent.

India VIX is has surged by 6.12 per cent and is trading around the mark of 15.08, indicating a rise in market volatility.

In the sectoral landscape, no sector emerged as top gainers, while Nifty PSU Bank, Nifty Energy, and Nifty Media are underperforming.

Top gainers in individual stocks are LTIM, BAJFINANCE, and HINDUNILVR while, SBIN, COALINDIA, and NTPC are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 636 stocks advancing compared to 1,722 stocks declining.

Market Update at 9:40 AM: On Friday, Indian markets opened on a negative note, with Nifty and Sensex experiencing losses while, the Broader indices also displayed negative performance except for Nifty Smallcap. Nifty Metal emerged as the top gainer, while Nifty Pharma and Nifty Realty are flat.

The Sensex is up by 0.05 per cent trading around 82,243 while the Nifty is also up by 0.07 per cent and is trading around 25,161. Whereas, in the broader, the Nifty Midcap declined by 0.05 per cent trading at 59,424 while the Nifty Smallcap surged by 0.42 per cent trading at 19,603.

India VIX has slightly declined by 1.55 per cent and is trading at 13.99, indicating a slight decrease in market volatility.

Within the sectoral landscape only Nifty IT, Nifty Realty, and Nifty FMCG are among the top gainers while Nifty PSU Bank, Nifty Energy and Nifty Bank are the sectors which are underperforming.

LTIM, BAJFINANCE, and BAJAJFINSV are among the top gainers within the Nifty 50 while SBIN, COALINDIA, and ULTRACEMCO are among the top losers.

About 1,388 stocks are advancing as against to 826 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM: The S&P 500 and Dow closed lower on Thursday, while the Nasdaq ended slightly higher. The Dow fell 219.22 points (0.54 per cent) to 40,755.75, the S&P 500 lost 16.66 points (0.30 per cent) to 5,503.41, and the Nasdaq gained 43.37 points (0.25 per cent) to 17,127.66.

The US 10-year Treasury yield remained steady at 3.72 per cent, while the 2-year bond yield dropped by 17 basis points to 3.73 per cent.

The GIFT Nifty is trading lower, indicating a weak start for the day. Nifty futures were trading at 25,235.

Oil prices rose slightly in early Friday trading as investors considered a significant drop in U.S. crude inventories and OPEC+ producers postponing production increases, while also factoring in mixed U.S. employment data.

West Texas Intermediate (October): $69.15 per barrel, down 5 cents, down 3.5 per cent YTD.
Brent (November): $72.69 per barrel, down 1 cent, down 5.7 per cent YTD.

On September 05, 2024, foreign institutional investors (FII) sold shares worth Rs 688 crore, while domestic institutional investors (DII) bought shares worth Rs 2,970 crore.

Stocks that are banned for trading in the F&O segment on September 04, 2024, are ABFRL, BALRAMCHIN, BANDHANBNK, BIOCON, CHAMBLFERT, HINDCOPPER, and RBLBANK

Disclaimer: The article is for informational purposes only and not investment advice.