Market Wrap: Benchmark indices closed higher while broader indices outperformed!

As the trading day concluded, the Sensex and Nifty wrapped up with gains of 0.3 per cent and 0.22 per cent respectively, portraying a positive sentiment.

Market Update at 3:40 PM: As the trading day concluded, the Sensex and Nifty wrapped up with gains of 0.3 per cent and 0.22 per cent respectively, portraying a positive sentiment. The closing bell also brought substantial upswings for the Nifty Midcap, closing notably higher by 0.39 per cent, and the Nifty Smallcap, which saw a commendable increase of 0.9 per cent.

Market volatility appeared subdued, with the India VIX showing a decline of 0.17 per cent, pointing towards a relatively stable trading environment.

The top gainers included the Nifty PSU Bank, Nifty Bank, and Nifty Financial Services sectors, contributing to the market's upward trajectory. On the flip side, the Nifty Energy, Nifty FMCG, and Nifty Metal sectors faced setbacks.

Among individual stocks within the Nifty 50, Hindalco, Axis Bank, and ICICI Bank emerged as prominent gainers, lending momentum to the index's positive movement. Conversely, Adani Enterprises, Adani Ports, and Sun Pharma experienced declines, impacting the index's performance in the opposite direction.

The broader market sentiment remained encouraging, with around 1247 advancing stocks compared to 708 declining stocks. This overall outlook suggests a prevalent positive sentiment, reinforcing the potential for positive developments in future trading sessions.

Market Update at 2:20 PM: The market witnessed upward movement as the Sensex and Nifty exhibited gains of 0.36 per cent and 0.33 per cent respectively. This positive trend extended to broader indices, with the Nifty Midcap showcasing a rise of 0.68 per cent and the Nifty Smallcap surging ahead by 0.93 per cent.

Market volatility displayed a reduction, evident in the 0.49 per cent plunge in the India VIX.

Leading the gainers, the Nifty Bank, Nifty PSU Bank, and Nifty Financial Services sectors contributed to the market's buoyancy. In contrast, the Nifty FMCG and Nifty Energy sectors experienced declines.

Individual stocks within the Nifty 50 displayed a mix of fortunes. Hindalco, SBIN, and Axis Bank were prominent gainers, fueling the index's upward momentum. On the other side, Adani Ports, Adani Enterprises, and Sun Pharma faced downward pressure, impacting the index's performance negatively.

The broader market sentiment remained optimistic, with approximately 1283 advancing stocks compared to 704 stocks undergoing declines. This broader picture signifies a prevailing positive sentiment, indicating the potential for further positive developments throughout the trading session.

Market Update at 12:30 PM: The Indian stock market continues its upward trajectory as the Sensex and Nifty recorded gains of 0.23 per cent and 0.22 per cent, respectively. The bullish sentiment extended to broader indices as well, with the Nifty Midcap and Nifty Smallcap marking increases of 0.62 per cent and 0.89 per cent, respectively.

Anticipating positive trends, European markets are poised for a favorable opening. European futures indicate positive prospects, with DAX and FTSE futures trading higher by 0.4 per cent and 0.35 per cent, respectively.

Market volatility appears subdued as the India VIX dropped by 0.64 per cent, suggesting a calmer trading environment.

Among the sectors, Nifty Media, Nifty PSU Bank, and Nifty Metal demonstrated strong gains, driving market momentum. Conversely, Nifty FMCG and Nifty Energy experienced declines.

In terms of individual stocks within the Nifty 50, Hindalco, Divi's Laboratories, and Axis Bank stood as notable gainers, contributing positively to the index. Conversely, Adani Ports, Adani Enterprises, and Sun Pharma faced losses.

The broader market sentiment remained optimistic, with around 1327 advancing stocks compared to 647 declining stocks. This overarching outlook reinforces a positive sentiment in the broader market, hinting at potential for further favorable developments.

Market Update at 11:10 AM: The trading session witnessed a blend of market trends as the Sensex and Nifty exhibited a mixed trajectory. Amidst this, the Nifty Midcap registered a commendable increase of 0.57 per cent, while the Nifty Smallcap segment followed suit with a noteworthy surge of 0.86 per cent.

Market volatility remained relatively stable as the India VIX maintained a flat movement, reflecting a balanced sentiment.

In the sectoral landscape, the Nifty Media, Nifty PSU Bank, and Nifty Metal sectors emerged as the day's prominent gainers, contributing positively to the market dynamics. In contrast, the Nifty FMCG, Nifty Energy, and Nifty Auto sectors faced declines, becoming notable losers.

In the Nifty 50 index, Hindalco, Divi's Laboratories, and Tata Steel stood out as substantial gainers, bolstering the market's performance. On the flip side, ITC, Adani Enterprises, and Sun Pharma experienced downward pressure, leading to losses within the Nifty 50.

Broader market sentiment appeared optimistic, with approximately 1345 stocks advancing compared to 626 stocks in decline. This collective outlook signals a positive sentiment pervading the broader market.

Market Update at 9:30 AM: As the trading day began, the Indian stock market exhibited a cautious ascent, with the Sensex and Nifty edging slightly lower by 0.06 per cent and 0.03 per cent, respectively. The opening bell brought promising gains for the Nifty Midcap and Nifty Smallcap segments, showing increases of 0.44 per cent and 0.46 per cent, respectively.

Investor apprehensions seemed to ease as the India VIX saw a decline of 0.09 per cent, hinting at a slight reduction in market volatility.

Among the notable performers, the Nifty Metal, Nifty Media, and Nifty Realty sectors emerged as the top gainers at the start of the trading session, highlighting positive momentum in these areas. However, the Nifty Pharma, Nifty FMCG and Nifty Energy sectors faced early losses, positioning them as initial laggards.

Within the Nifty 50 index, Hindalco, Axis Bank and LTIMindtree gained early traction, contributing positively to the market's opening moves. Conversely, Sun Pharma, Bharti Airtel, and ITC faced early setbacks, experiencing losses.

The broader market sentiment reflected optimism, as approximately 1376 stocks advanced compared to 460 stocks in decline, underscoring a positive outlook within the broder market.

Pre-Market Update at 8:10 AM: In the US markets, the S&P 500 and Dow experienced slight declines of approximately 0.3 per cent and 0.5 per cent, respectively. Conversely, the Nasdaq Composite managed a marginal uptick of 0.06 per cent. Notably, the Nasdaq Composite achieved a second consecutive day of gains, even in the face of selling pressure. Investors were preparing for Nvidia's earnings, considering it had been the primary underperformer on the index during the previous session.

Oil prices stabilized on Tuesday due to concerns over China's economic challenges affecting demand from the leading crude importer. This countered the impact of supply reductions. Brent crude saw a modest increase of 9 cents, reaching USD 84.55 per barrel. Meanwhile, the Dollar index showed a 0.28 per cent rise in futures, reaching 103.59. Additionally, the value of one dollar remained close to Rs 83.04.

The benchmark indices are poised for a slightly positive opening, as reflected by the GIFT Nifty, which shows a gain of 24 points following the Nifty's 3-point increase to 19,396 points on August 22. The GIFT Nifty futures are positioned at 19,337 points.

On August 22, foreign institutional investors (FII) offloaded shares worth Rs 495.17 crore, while domestic institutional investors (DII) bought shares worth Rs 533.75 crore.

Stocks that are banned for trading in the F&O segment on August 23, 2023, are BHEL, Delta Corp, GNFC, Hindustan Copper, Indiabulls Housing Finance, India Cements, Manappuram, Metropolis, PNB, SAIL and Zee Entertainment.