Market Wrap: Benchmark indices close on a positive note while Nifty Pharma surges over 1.5 per cent!

On Monday, Benchmark indices concluded trading day on a higher note as Sensex moderately gained by 0.15 per cent and closed at 72,776.14 level, while Nifty also gained by 0.22 per cent and closed at 22,104.05 level.

Market Update at 3:45 PM: On Monday, Benchmark indices concluded trading day on a higher note as Sensex moderately gained by 0.15 per cent and closed at 72,776.14 level, while Nifty also gained by 0.22 per cent and closed at 22,104.05 level. Similarly, the Broader market experienced mixed performance as Nifty Midcap closed moderately higher by 0.41 per cent, while Nifty Smallcap declined by 0.43 per cent.

Market volatility, as indicated by India VIX, has surged by 11.52 per cent, reflecting an increase in market volatility.

Nifty Pharma, Nifty Metal and Nifty Realty closed positively while Nifty Auto, Nifty PSU Bank and Nifty Energy were among the top losers.

Cipla, Asian Paints and Adani Ports were among the top gainers while Tata Motors, BPCL and Shriram Finance were among the top losing stocks from the Nifty 50.

About 902 stocks were advancing as against to 1216 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading marginally higher by 0.09 per cent, while Nifty surged by 0.16 per cent. Similarly, in the broader indices Nifty Midcap has declined by 0.11 per cent, while Nifty Smallcap has plunged by 0.51 per cent.

India VIX is currently trading higher by 11.19 per cent, indicating an increase in market volatility.

Nifty Pharma, Nifty Metal and Nifty Financial Services are the major sectors which are trading positively while Nifty Auto, Nifty PSU Bank and Nifty Energy are among the top losers.

Cipla, Asian Paints and Divi’s Laboratories are among the top gainers while Tata Motors, BPCl and Shriram Finance are among the top losing stocks from the Nifty 50.

About 838 stocks are advancing as against 1287 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 as Sensex has declined by 0.17 per cent, while Nifty has plunged by 0.13 per cent. Similarly, in the broader markets Nifty Midcap has declined by 0.51 per cent, while Nifty Smallcap has plummeted by 0.89 per cent.

India VIX has spiked up by 10.71 per cent, indicating an increase in market volatility.

European markets are heading for a mixed open at the start of the new trading week, and investors will be keeping a close eye on the latest US inflation figures. European futures DAX, FTSE and CAC trade higher by 0.1 per cent, 0.18 per cent and 0.17 per cent respectively.

Nifty Pharma, Nifty Financial Services and Nifty Bank are trading positively while Nifty Auto, Nifty PSU Bank and Nifty Energy are among the top losers.

Cipla, Asian Paints and Divi’s Laboratories are among the top gainers while Tata Motors, Hero Motocorp and BPCL are among the top losing stocks from the Nifty 50.

About 693 stocks are advancing as against to 1437 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex significantly declining by 0.61 per cent, while Nifty also plunged by 0.54 per cent. Similarly, in the broader indices Nifty Midcap experience substantial losses of 1.24 per cent, while Nifty Smallcap has plummeted by 1.51 per cent.

India VIX is trading higher by 12 per cent, indicating a significant decline in market volatility.

Nifty Pharma is the only major sector which is trading positively while Nifty Auto, Nifty PSU Bank and Nifty Energy are among the top losers.

Top gainers in individual stocks are Cipla, Asian Paints and HDFC Life, whereas Tata Motors, BPCL and Hero Motocorp are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 428 stocks advancing compared to 1704 stocks declining.

Market Update at 9:40 AM: On Monday, Indian markets initiated the trading week on a negative note with Sensex opening substantially lower by 0.81 per cent, while Nifty also opened lower by 0.74 per cent. Similarly, in the broader indices Nifty Midcap opened significantly lower by 1.25 per cent, while Nifty Smallcap has plummeted by 1.55 per cent.

India VIX has surged by 13.66 per cent and is trading above the level of 21, indicating heightened market volatility.

Nifty Pharma is the only major sector which is trading positively while Nifty Auto, Nifty PSU Bank and Nifty Metal are among the top losers.

Cipla, HDFC Life and Eicher Motors are among the top gainers while Tata Motors, Hero Motocorp and BPCL are among the top losing stocks from the Nifty 50.

About 412 stocks are advancing as against to 1654 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:40 AM: Friday saw the US stock market grappling with indications of an economic slowdown and ongoing inflation concerns. Equities hesitated as US consumer sentiment dipped to its lowest in six months, leading to increased short-term inflation forecasts.

Despite calls for Federal Reserve rate cuts in response to sectoral slowdowns, officials reaffirmed their dedication to higher rates to address inflation. The S&P 500 hovered near 5,220, extending its longest winning streak since February, while the Dow Jones Industrial Average climbed for an eighth consecutive session.

The GIFT Nifty indicates a downward start for the Indian Benchmark indices, with a 0.18 per cent decrease or 36 points. Nifty futures are hovering around the 22,092 level.

On Monday, oil prices continued to fall due to indications of sluggish fuel demand and remarks from US Federal Reserve officials that tempered expectations of interest rate cuts. Such cuts could potentially hamper growth and reduce fuel demand in the largest global economy.

Brent crude futures decreased by 26 cents, or 0.3 per cent, to USD 82.53 a barrel, while US West Texas Intermediate crude futures stood at USD 78.03 a barrel, down 23 cents, or 0.3 per cent.

On May 10, 2024, foreign institutional investors (FII) offloaded shares worth Rs 2,117.50 crore, while domestic institutional investors (DII) bought shares worth Rs 2,709.81 crore.

Stocks that are banned for trading in the F&O segment on May 13, 2024, are BALRAMCHIN, CANBK, GMRINFRA, HINDCOPPER, IDEA, PNB, SAIL and ZEEL.