Market Wrap: Benchmark indices close on a positive note, while Nifty Smallcap underperformed!

In Wednesday's trading session, benchmark indices closed on a positive note, with both Sensex and Nifty gaining 0.14 per cent.

Market Update at 3:40 PM: In Wednesday's trading session, benchmark indices closed on a positive note, with both Sensex and Nifty gaining 0.14 per cent. However, broader indices presented a mixed picture, with Nifty Midcap rising by 0.34 per cent and Nifty Smallcap declining by 1.21 per cent.

Market volatility, as measured by India VIX, experienced a dip of 2.84 per cent, indicating a minor reduction in market volatility.

Nifty IT, Nifty Auto, and Nifty Pharma emerged as the top gainers, while Nifty PSU Bank, Nifty Media, and Nifty Metal faced losses.

Leading the gainers in individual stocks were BPCL, Cipla, and NTPC, whereas Indusind Bank, Hindalco, and Kotak Bank found themselves among the top losers in the Nifty 50.

The broader market sentiment suggests a positive trend, with around 811 advancing stocks compared to 1227 declining ones.

Market Update at 2:10 PM: In the ongoing trading session, the Sensex and Nifty are showing marginal declines of 0.24 per cent and 0.23 per cent, respectively. While Nifty Midcap registers a slight decline of 0.07 per cent, Nifty Smallcap is witnessing a notable decrease of 1.38 per cent.

The India VIX has experienced a modest dip of 0.53 per cent, signalling a slight reduction in market volatility.

Top gainers in the sectoral landscape include Nifty Pharma, Nifty IT, and Nifty Energy, whereas Nifty PSU Bank, Nifty Metal, and Nifty Realty are positioned as the major losers.

In terms of individual stocks, BPCL, Cipla, and Power Grid are leading the gains, while Indusind Bank, Adani Enterprises, and M&M are among the top losers in the Nifty 50.

The broader market sentiment reflects a negative trend, with approximately 797 advancing stocks compared to 1292 declining ones.

Market Update at 12:40 PM: In the ongoing trading session, the Sensex and Nifty are witnessing declines of 0.21 per cent and 0.19 per cent, respectively. Meanwhile, Nifty Midcap is experiencing a lower trajectory with a decline of 0.11 per cent, and Nifty Smallcap is significantly down by 1.25 per cent.

The India VIX has marginally decreased by 1.98 per cent, suggesting a slight reduction in market volatility.

European markets are poised for a positive opening on Wednesday as investors assimilate the latest minutes from the US Federal Reserve’s Oct 31 meeting. European futures, including DAX, CAC, and FTSE, are trading higher by 0.04 per cent, 0.05 per cent, and 0.01 per cent, respectively.

Leading gainers in the sectoral landscape comprise Nifty Pharma, Nifty Energy, and Nifty IT, whereas Nifty Realty, Nifty Metal, and Nifty PSU Bank are among the major losers.

In individual stock movements, BPCL, Cipla, and Power Grid are positioned as top gainers, while Adani Enterprises, Indusind Bank, and Kotak Bank find themselves among the top losing stocks in the Nifty 50.

The broader market sentiment reflects a negative trend, with approximately 673 advancing stocks compared to 1340 declining ones.

Market Update at 11:15 AM: In the ongoing trading session, the Sensex and Nifty are posting marginal gains of 0.07 per cent and 0.08 per cent, respectively. However, Nifty Midcap is experiencing a slight decline of 0.03 per cent, while Nifty Smallcap is showing a more moderate decrease of 0.64 per cent.

The India VIX has seen a marginal surge of 1.37 per cent, suggesting a slight uptick in market volatility.

Top gainers in the sectoral landscape include Nifty Pharma, Nifty Metal, and Nifty IT, while Nifty Realty, Nifty Metal, and Nifty Bank are among the leading losers.

In individual stock movements, BPCL, Cipla, and Power Grid are positioned as top gainers, whereas Adani Enterprises, Indusind Bank, and M&M are prominent among the top losing stocks in the Nifty 50.

The broader market sentiment remains positive, with approximately 1007 advancing stocks compared to 973 declining ones.

Market Update at 9:30 AM: On Wednesday's trading session, the Sensex and Nifty saw an opening uptick of 0.08 per cent and 0.09 per cent, respectively. Meanwhile, Nifty Midcap had a marginal increase of 0.1 per cent, whereas Nifty Smallcap opened with a decline of 0.25 per cent.

The India VIX has witnessed a 0.76 per cent decrease, suggesting a slight dip in market volatility.

Top gainers in the sectoral landscape include Nifty Media, Nifty Pharma, and Nifty Energy, while Nifty Realty, Nifty Metal, and Nifty PSU Bank are among the leading losers.

Notable individual stock performances feature BPCL, Tata Consumer, and HDFC Life as top gainers, whereas Hindalco, Kotak Bank, and Adani Enterprises find themselves among the top losers within the Nifty 50.

In the broader market scenario, about 1176 stocks are advancing compared to 676 stocks declining, signalling a prevailing positive sentiment in the broader market.

Pre-Market Update at 8:10 AM: Nasdaq 100 futures declined on Tuesday night as Wall Street evaluated Nvidia's recent earnings outcomes. Futures linked to the technology-centric index dipped approximately 0.2 per cent, and S&P 500 futures edged down around 0.1 per cent. Meanwhile, Dow Jones Industrial Average futures remained close to the flat line.

In extended trading, Nvidia shares experienced a decline of over 1 per cent. Although the chip giant reported fiscal third-quarter adjusted earnings and revenue that exceeded expectations, it cautioned that export restrictions on China would impact its fiscal fourth quarter.

The GIFT Nifty suggests a slightly positive opening for the benchmark indices, showing a gain of 15 points. GIFT Nifty futures reached 19,850 points after reaching a peak of 19,855 points.

Oil prices retreated on Tuesday, reversing the significant gains observed in the previous two sessions, as investors adopted a cautious stance ahead of an upcoming OPEC+ meeting this Sunday. During the meeting, the producer group may deliberate on the prospect of deepening supply cuts in response to the decelerating global economic growth.

The Brent crude contract for January declined by 32 cents, or 0.39 per cent, settling at $82 per barrel on Tuesday. In the futures market, the Dollar index traded 0.06 percent lower at 103.69, while the value of one dollar remained close to Rs 83.28.

On November 21, 2023, foreign institutional investors (FII) offloaded shares worth Rs 455.59 crore, while domestic institutional investors (DII) bought shares worth Rs 721.52 crore.

Stock that are banned for trading in the F&O segment on November 22, 2023, are BHEL, CHAMBLFERT, DELTACORP, HINDCOPPER, IBULHSGFIN, INDIACEM, MANAPPURAM, MCX, NMDC, RBLBANK and ZEEL.