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

On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.93 per cent closing at 73,651.35 level, while Nifty also surged by 0.92 per cent and closed at 22,326.90 level.

Market Update at 3:45 PM: On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.93 per cent closing at 73,651.35 level, while Nifty also surged by 0.92 per cent and closed at 22,326.90 level. Similarly, the Broader market experienced moderate gains as Nifty Midcap closed moderately higher by 0.5 per cent, while Nifty Smallcap marginally gained by 0.04 per cent.

Market volatility, as indicated by India VIX, has surged by 1.02 per cent, reflecting a slight increase in market volatility.

Nifty PSU Bank, Nifty Auto, Nifty Metal and Nifty Pharma were among the top gainers while Nifty Media was the only major sector which underperformed.

Bajaj Finserv, Grasim and Hero Motocorp were among the top gainers while Axis Bank, Reliance and Tech Mahindra were among the top losing stocks from the Nifty 50.

About 1096 stocks were advancing as against to 997 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:00 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading substantially higher by 1.33 per cent, while Nifty trades higher by 1.42 per cent. Similarly, in the broader indices Nifty Midcap has significantly surged by 0.81 per cent, while Nifty Smallcap has moderately gained by 0.48 per cent.

India VIX is currently trading marginally higher by 1.97 per cent, indicating a slight increase in market volatility.

Nifty PSU Bank, Nifty Metal and Nifty Auto are among the top gaining sectors while Nifty Media is the only major sector which is underperforming.

Bajaj Finserv, Bajaj Finance and Eicher Motors are among the top gainers while Axis Bank, Britannia and UPL are among the top losing stocks from the Nifty 50.

About 1404 stocks are advancing as against 688 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade higher with the Sensex substantially surging by 1 per cent, while Nifty also soared by 1.03 per cent. Similarly, in the broader markets Nifty Midcap has soared by 0.54 per cent, while Nifty Smallcap has gained by 0.42 per cent.

India VIX is currently trading marginally lower by 0.57 per cent, indicating a slight decline in market volatility.

European markets are heading for a positive open on Thursday, bouncing back from lacklustre momentum earlier this week. European futures DAX and CAC trades lower by 0.10 per cent and 0.07 per cent respectively, while FTSE trades higher by 0.19 per cent.

Nifty PSU Bank, Nifty Financial Services and Nifty Pharma are among the top gainers while Nifty Media is the only major sector which is underperforming.

Bajaj Finserv, Bajaj Finance and Hero Motocorp are among the top gainers while Bajaj Auto, Axis Bank and HCL Technologies among the top losing stocks from the Nifty 50.

About 1461 stocks are advancing as against to 636 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 higher note, with Sensex trading substantially higher by 1.05 per cent while Nifty also trades higher by 1.01 per cent. Similarly, in the broader indices Nifty Midcap experiences moderate gains of 0.28 per cent, while Nifty Smallcap surges by 0.46 per cent.

India VIX is trading lower by 1.36 per cent, indicating a slight increase in market volatility.

Nifty PSU Bank, Nifty Financial Services and Nifty Metal are among the top gaining sectors while currently no major sectors are underperforming.

Top gainers in individual stocks are Bajaj Finserv, Bajaj Finance and Hero Motocorp, whereas Bajaj Auto, Britannia and HCL Technologies are among the leading losers in the Nifty 50.

The broader market sentiment is positive, with 1537 stocks advancing compared to 547 stocks declining.

Market Update at 9:35 AM: On Thursday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.46 per cent, while Nifty also opened higher by 0.44 per cent. Similarly, in the broader indices Nifty Midcap opened marginally higher by 0.07 per cent, while Nifty Smallcap also opened higher by 0.36 per cent.

India VIX has marginally declined by 1.2 per cent, indicating a marginal decline in market volatility.

Nifty PSU Bank, Nifty Media and Nifty Financial Services are among the top gainers while Nifty Realty is the only major sector which underperforming.

Bajaj Finance, Bajaj Finserv and ICICI Bank are among the top gainers while Apollo Hospitals, Britannia and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1588 stocks are advancing as against to 409 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:05 AM: On Wednesday, US stocks climbed higher, led by the Dow, while the S&P 500 marked a new closing record, primarily driven by drugmaker Merck. Investors awaited upcoming inflation data and Federal Reserve commentary for insights into future interest rate adjustments.

The Dow Jones Industrial Average surged by 477.75 points, or 1.22 per cent, reaching 39,760.08. Similarly, the S&P 500 advanced by 44.91 points, or 0.86 per cent, closing at 5,248.49. Meanwhile, the Nasdaq Composite also saw gains, rising by 83.82 points, or 0.51 per cent, to 16,399.52.

The GIFT Nifty trends suggest a neutral to slightly positive opening for the Benchmark indices, showing a modest gain of 14 points or 0.06 per cent. Nifty futures were hovering around the 22,195 mark in trading.

On Thursday, global oil prices saw a slight uptick, rebounding from two consecutive sessions of decline, as investors reevaluated the latest US crude oil and gasoline inventories data and resumed buying activity.

Brent crude futures for May rose by 29 cents, or 0.34 per cent, reaching USD 86.38 per barrel, while the June contract, which saw more active trading, increased by 28 cents, or 0.33 per cent, to USD 85.69. The May contract is set to expire on Thursday. US West Texas Intermediate (WTI) crude futures for May delivery also saw an increase of 41 cents, or 0.50 per cent, reaching USD 81.76 per barrel.

In the preceding session, oil prices faced downward pressure following the unexpected rise in US crude oil and gasoline inventories last week, attributed to increased crude imports and sluggish gasoline demand, as reported by the Energy Information Administration.

On March 27, 2024, foreign institutional investors (FII) bought shares worth Rs 2,170.32 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,197.61 crore.

Stocks that are banned for trading in the F&O segment on March 28, 2024, are HINDCOPPER and ZEEL.