Market Wrap: Benchmark indices close significantly lower while Nifty Realty plunges over 1 per cent!

On Friday, Benchmark indices concluded the last trading day of the week on a negative note as Sensex substantially declined by 0.98 per cent and closed at 73,878.15 level, while Nifty also plunged by 0.76 per cent and closed at 22,475.85 level.

Market Update at 4:15 PM: On Friday, Benchmark indices concluded the last trading day of the week on a negative note as Sensex substantially declined by 0.98 per cent and closed at 73,878.15 level, while Nifty also plunged by 0.76 per cent and closed at 22,475.85 level. Similarly, the Broader market experienced moderate losses as Nifty Midcap closed lower by 0.35 per cent, whereas Nifty Smallcap plummeted by 0.49 per cent.

Market volatility, as indicated by India VIX, has surged by 9.72 per cent, reflecting an increase in market volatility.

Nifty Pharma was the only major sector which closed positively while Nifty Realty, Nifty IT, Nifty Auto and Nifty PSU Bank were among the top losers.

Coal India, Grasim and ONGC were among the top gainers while L&T, Maruti and Nestle India were among the top losing stocks from the Nifty 50.

About 655 stocks were advancing as against to 1447 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:30 PM: In the current trading session benchmark indices trade on a negative note with the Sensex trading substantially lower by 1.36 per cent, while Nifty also plunged by 1.18 per cent. Similarly, in the broader indices Nifty Midcap has declined by 0.68 per cent, while Nifty Smallcap has plummeted by 0.79 per cent.

India VIX is currently trading significantly higher by 11.86 per cent, indicating an increase in market volatility.

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

Coal India, Bajaj Finance and Dr Reddy’s Laboratories are among the top gainers while Reliance, L&T and Maruti are among the top losing stocks from the Nifty 50.

About 560 stocks are advancing as against 1536 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:30 PM In the current trading session benchmark indices trade substantially higher as Sensex has plummeted by 0.87 per cent, while Nifty also plunged by 0.66 per cent. Similarly, in the broader markets Nifty Midcap has moderately declined by 0.40 per cent, while Nifty Smallcap has plunged by 0.55 per cent.

India VIX has spiked up by 10.04 per cent, indicating an increase in market volatility.

European markets are set to open in green on Friday, rounding off a broadly negative week dominated by corporate earnings. European futures DAX and CAC trade higher by 0.46 per cent and 0.02 while FTSE trades lower 0.03 per cent respectively.

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

Coal India, Bajaj Finance and Tata Consumer Product are among the top gainers while Bharti Airtel, Asian Paints and Maruti are among the top losing stocks from the Nifty 50.

About 579 stocks are advancing as against to 1502 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 negative note with Sensex moderately declining by 0.43 per cent, while Nifty also plunged by 0.25 per cent. Similarly, in the broader indices Nifty Midcap experience marginal declines of 0.05 per cent, while Nifty Smallcap has slightly declined by 0.06 per cent.

India VIX is trading higher by 7.23 per cent, indicating an increase in market volatility.

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

Top gainers in individual stocks are Coal India, Bajaj Finance and ONGC, whereas L&T, HDFC Life and Nestle India are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 787 stocks advancing compared to 1292 stocks declining.

Market Update at 9:30 AM: On Friday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.6 per cent, while Nifty also opened higher by 0.6 per cent and made a new all-time high of 22,791,25 level. Similarly, in the broader indices Nifty Midcap opened moderately higher by 0.33 per cent, while Nifty Smallcap also opened higher by 0.48 per cent.

India VIX has surged by 2.58 per cent, indicating a slight increase in market volatility.

Nifty Financial Services, Nifty Energy and Nifty Media are among the top gainers while currently no major sectors are underperforming.

Bajaj Finance, Bajaj Finserv and NTPC are among the top gainers while Maruti, Adani Enterprises and L&T are among the top losing stocks from the Nifty 50.

About 1464 stocks are advancing as against to 477 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:40 AM: Thursday witnessed a rally in US stocks as investors assessed the Federal Reserve's interest rate guidance, which was more dovish than anticipated, juxtaposed with a slew of mixed earnings and economic data.

The Dow Jones Industrial Average surged by 322.37 points, or 0.85 per cent, to reach 38,225.66. Similarly, the S&P 500 climbed by 45.81 points, or 0.91 per cent, to 5,064.2, while the Nasdaq Composite saw an increase of 235.48 points, or 1.51 per cent, settling at 15,840.96.

The GIFT Nifty trends suggest a positive opening for the broader index in India, with an increase of 104.50 points or 0.45 per cent. Nifty futures were observed trading near the 22,888 level.

In early Friday trading, oil prices saw a slight increase due to the possibility of OPEC+ maintaining output cuts. However, both crude benchmarks were on track for weekly losses due to uncertainty in the U.S. economy and minimal disruptions in crude supply resulting from the Israel-Hamas conflict.

July Brent crude futures rose by 16 cents to USD 83.83 per barrel, while June U.S. West Texas Intermediate crude increased by 19 cents to USD 79.14 per barrel.

On May 02, 2024, foreign institutional investors (FII) offloaded shares worth Rs 964.47 crore, while domestic institutional investors (DII) bought shares worth Rs 1,352.44 crore.

Stocks that are banned for trading in the F&O segment on May 03, 2024, are ABFRL, BIOCON and IDEA.