Market Wrap: Benchmark indices close on a positive note with Nifty Metal among the top losers!

On Monday, Benchmark indices concluded the last trading day of the week a mixed note as Sensex increased by 0.24 per cent and closed at 82,559.84, while Nifty surged by 0.17 per cent and closed at 25,278.70 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded the last trading day of the week a mixed note as Sensex increased by 0.24 per cent and closed at 82,559.84, while Nifty surged by 0.17 per cent and closed at 25,278.70 level. Similarly, the Broader market experienced significant gains as Nifty Midcap closed lower by 0.23 per cent at 59,152.65, while Nifty Smallcap declined by 0.33 per cent and closed at 19,244.30.

Market volatility, as indicated by India VIX, has increased by 5 per cent and is trading at the level of 14.06 reflecting an increase in market volatility.

Within the sectoral landscape, Nifty FMCG, Nifty PSU Bank, and Nifty IT were among the Top Gainers, while Nifty Metal, Nifty Pharma, and Nifty Media are the sectors which underperformed.

Bajaj Finance, Bajaj Finserv and HCL Tech were among the top gainers while on the other hand Hindalco, Dr Reddy, and Tata Motors were among the Top Losers.

About 981 stocks were advancing as against to 1399 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 surged with Sensex trading higher by 0.30 per cent while Nifty also gained by 0.25 per cent. Similarly, in the broader indices Nifty Midcap has declined by 0.40 per cent, while Nifty Smallcap has declined by 0.27 per cent.

India VIX has increased by 4.48 per cent and is trading around the mark of 13.99 indicating an increase in market volatility.

European stocks are expected to start the new trading week on an unsettled note in mixed territory Monday; European Futures; DAX (+0.01 per cent); CAC (-0.25 per cent); FTSE (-0.12 per cent)

Within the sectoral landscape Nifty IT, Nifty FMCG and Nifty Fin Service are among the top gainers while Nifty Metal is the only major sector which is underperforming.

Bajaj Finserv, HCL Tech and Bajaj Finance are among the top gainers within the Nifty 50 while, Dr Reddy, Hindalco and Tata Motors are among the top losers.

About 949 stocks are advancing as against to 1422 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 positive note with Sensex trading higher by 0.35 per cent, while Nifty gained by 0.31 per cent. Similarly in the broader indices Nifty Midcap experience decline of 0.21 per cent, while Nifty Smallcap has declined by 0.08 per cent.

India VIX is has slightly increased by 1.94 per cent and is trading around the mark of 13.65, indicating a slight increase in market volatility.

Within the sectoral landscape, Nifty FMCG, Nifty IT and Nifty Fin Service are among the top gainers while Nifty Metal, Nifty Auto and Nifty Media are underperforming.

Top gainers in individual stocks are BAJAJFINSERV, BAJFINANCE, and HCLTECH while, TATAMOTORS, HINDALCO and DRREDDY are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1,111 stocks advancing compared to 1,249 stocks declining.

Market Update at 9:40 AM: On Monday, Indian markets opened on a positive note, with Nifty and Sensex experiencing significant gains while, the Broader indices displayed positive performance, making new highs. Nifty IT emerged as the top gainer, while Nifty Media experienced the largest losses.

The Sensex is trading up by 0.27 per cent trading at 82,587 while the Nifty is also up by 0.30 per cent and is trading below the 25,400 level. Whereas, in the broader, the Nifty Midcap gained by 0.01 per cent trading at 59,292 while the Nifty Smallcap surged by 0.11 per cent trading at 19,327.

India VIX has slightly gained by 1.64 per cent and is trading at 13.61, indicating marginal increase in market volatility.

Within the sectoral landscape Nifty IT, Nifty FMCG and Nifty MID SELECT were among the top gainers while Nifty Media, Nifty Metal and Nifty PSU Bank are the sectors which are underperforming.

HEROMOTOCO, BAJAJ-AUTO and HDFCLIFE are among the top gainers within the Nifty 50 while TATAMOTORS, HINDALCO and DRREDDY are among the top losers.

About 1,235 stocks are advancing as against to 989 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM: The S&P 500 increased by 1.01 per cent to close at 5,648.40 points. The Nasdaq Composite Index gained 1.13 per cent to finish at 17,713.62 points, while the Dow Jones Industrial Average edged up 0.55 per cent to 41,563.08 points.

On Friday, the 10-year Treasury yield was up 4.4 basis points at 3.911 per cent, and the 2-year yield rose by 5.08 basis points to 3.919 per cent.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a slight decline of 0.16 per cent or 40.5 points. Nifty futures are currently trading near the 25,376.90 mark.

Oil prices continued to decline on Monday as investors weighed increased OPEC+ production against a sharp drop in Libyan output and weak demand in China and the US.

Brent crude futures dropped by 57 cents, or 0.7 per cent, to $76.36 per barrel, while U.S. West Texas Intermediate crude decreased by 50 cents, or 0.7 per cent, to $73.05 per barrel. This decline comes after Brent fell by 0.3 per cent last week, and WTI saw a 1.7 per cent decrease.

On August 30, 2024, foreign institutional investors (FII) bought shares worth Rs 5,316.14 crore, while domestic institutional investors (DII) offloaded shares worth Rs 3,198.07 crore.

Stocks that are banned for trading in the F&O segment on September 2, 2024, are BALRAMCHIN

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