Market Wrap: Benchmark indices close positively while Nifty Auto surged over 1 per cent!

On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex moderately gained by 0.17 per cent and closed at 74,611.11 level, while Nifty also gained by 0.19 per cent and closed at 22,648.20 level.

Market Update at 3:40 PM: On Thursday, Benchmark indices concluded the trading day on a positive note as Sensex moderately gained by 0.17 per cent and closed at 74,611.11 level, while Nifty also gained by 0.19 per cent and closed at 22,648.20 level. Similarly, the Broader market experienced moderate gains as Nifty Midcap closed higher by 0.44 per cent, whereas Nifty Smallcap slightly gained by 0.13 per cent.

Market volatility, as indicated by India VIX, has surged by 3.87 per cent, reflecting an increase in market volatility.

Nifty Metal, Nifty Auto, Nifty Energy and Nity Pharma were among the top gainers while Nifty Media, Nifty Bank, Nifty PSU Bank and Nifty Realty were among the top losers.

BPCL, Power Grid and Asian Paints were among the top gainers while Kotak Bank, Tata Consumer Product and Bharti Airtel were among the top losing stocks from the Nifty 50.

About 1027 stocks were advancing as against to 1078 stocks that were declining, thus indicating a neutral sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading moderately higher by 0.22 per cent, while Nifty also surged by 0.29 per cent. Similarly, in the broader indices Nifty Midcap has surged by 0.53 per cent, while Nifty Smallcap has gained by 0.18 per cent.

India VIX is currently trading higher by 5.46 per cent, indicating an increase in market volatility.

Nifty Metal, Nifty Energy and Nifty Auto are among the top gainers while Nifty Media, Nifty Bank and Nifty PSU Bank among the top losers.

Power Grid, BPCL and Asian Paints are among the top gainers while Kotak Bank, Bharti Airtel and Axis Bank are among the top losing stocks from the Nifty 50.

About 1105 stocks are advancing as against 990 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 substantially higher as Sensex has surged by 0.35 per cent, while Nifty also gained by 0.37 per cent. Similarly, in the broader markets Nifty Midcap has moderately gained by 0.45 per cent, while Nifty Smallcap has surged by 0.35 per cent.

India VIX has spiked up by 7.13 per cent, indicating an increase in market volatility.

European markets are heading for a higher open on Thursday. European futures DAX, CAC and FTSE trade higher by 0.06 per cent and 0.09 per cent and 0.42 per cent respectively.

Nifty Metal, Nifty Energy and Nifty Auto are among the top gainers while Nifty Realty, Nifty Media and Nifty Bank are among the top losers.

BPCL, Power Grid and Asian Paints are among the top gainers while Kotak Bank, Bharti Airtel and Tata Consumer Product are among the top losing stocks from the Nifty 50.

About 1168 stocks are advancing as against to 932 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 moderately surging by 0.26 per cent, while Nifty also gained by 0.25 per cent. Similarly, in the broader indices Nifty Midcap experience marginal gains of 0.19 per cent, while Nifty Smallcap has moderately surged by 0.3 per cent.

India VIX is trading higher by 6.82 per cent, indicating an increase in market volatility.

Nifty Auto, Nifty Metal and Nifty Energy are among the top gainers while Nifty Realty, Nifty Media and Nifty Bank are among the top losers.

Top gainers in individual stocks are Power Grid, BPCL and Bajaj Auto, whereas Kotak Bank, Tata Consumer Product and Divi’s Laboratories are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1135 stocks advancing compared to 922 stocks declining.

Market Update at 9:40 AM: On Thursday, Indian markets initiated the trading day on a positive note with Sensex opening marginally higher by 0.21 per cent, while Nifty also opened higher by 0.15 per cent. Similarly, in the broader indices Nifty Midcap opened moderately higher by 0.27 per cent, while Nifty Smallcap also opened higher by 0.36 per cent.

India VIX has surged by 7.94 per cent, indicating an increase in market volatility.

Nifty Energy, Nifty FMCG and Nifty Pharma are among the top gainers while Nifty Realty and Nifty It are among the top losers.

Power Grid, BPCL and Asian Paints are among the top gainers while Kotak Bank, Hindalco and Maruti are among the top losing stocks from the Nifty 50.

About 1214 stocks are advancing as against to 735 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:40 AM: On Wednesday, US stocks closed with losses as investors assessed economic data indicating increased labour costs and declining consumer confidence, all amid a significant Federal Reserve policy decision regarding interest rates.

On Wednesday, the U.S. Federal Reserve opted to maintain interest rates at their current levels and indicated a continued inclination towards eventual reductions in borrowing costs. However, it expressed concerns about recent disappointing inflation readings, suggesting that any rate cuts might be delayed.

This pause in progress has led Powell to suggest that while rate hikes are improbable, the benchmark policy rate may remain within the range of 5.25 per cent to 5.50 per cent for an extended period, as it has since July.

The GIFT Nifty trends suggest a robust opening for the Indian Benchmark indices, with an earlier morning increase of 127.50 points or 0.56 per cent. Nifty futures were observed trading near the 22,746.50 level.

On Wednesday, oil prices dropped approximately 2 per cent, reaching a seven-week low due to several factors, including a surprising increase in U.S. crude stocks, the potential for a ceasefire agreement in the Middle East, and ongoing concerns about persistent U.S. inflation, which have tempered expectations for the pace of interest rate cuts and oil demand growth.

Brent futures declined by USD 1.39, equivalent to a 1.6 per cent decrease, settling at USD 84.94 a barrel, while U.S. West Texas Intermediate (WTI) crude also fell by USD 1.39, or 1.7 per cent, to USD 80.54.

On April 30, 2024, foreign institutional investors (FII) bought shares worth Rs 1,071.93 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,429.11 crore.

Stocks that are banned for trading in the F&O segment on May 02, 2024, are BIOCON and IDEA.