Market Wrap: Benchmark indices closed on a lower note while Nifty PSU Bank surges over 1.5 per cent!

On Wednesday, Benchmark indices concluded the trading day on a lower note as Sensex marginally declined by 0.04 per cent closing at 73,876.82 level, while Nifty also declined by 0.08 per cent and closed at 22,434.65 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded the trading day on a lower note as Sensex marginally declined by 0.04 per cent closing at 73,876.82 level, while Nifty also declined by 0.08 per cent and closed at 22,434.65 level. Similarly, the Broader market experienced significant gains as Nifty Midcap closed moderately gained by 0.59 per cent, while Nifty Smallcap soared by 1.12 per cent.

Market volatility, as indicated by India VIX, has declined by 2.4 per cent, reflecting a decrease in market volatility.

Nifty PSU Bank, Nifty IT, Nifty Media and Nifty Financial Services were among the top gainers while Nifty Realty, Nifty FMCG, Nifty Auto and Nifty Pharma were the major sectors which underperformed.

Shriram Finance, NTPC and Divi’s Laboratories were among the top gainers while Nestle India, Bajaj Auto and Dr Reddy’s Laboratories were among the top losing stocks from the Nifty 50.

About 1564 stocks were advancing as against to 552 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading moderately higher by 0.21 per cent, while Nifty trades higher by 0.16 per cent. Similarly, in the broader indices Nifty Midcap has significantly surged by 0.55 per cent, while Nifty Smallcap has substantially gained by 1.08 per cent.

India VIX is currently trading lower by 0.9 per cent, indicating a decrease in market volatility.

Nifty IT, Nifty Media and Nifty PSU Bank are among the top gaining sectors while Nifty Realty and Nifty FMCG are among the top losers.

Shriram Finance, Divi’s Laboratories and TCS are among the top gainers while Nestle India, HDFC Life and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1626 stocks are advancing as against 495 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 moderately surging by 0.18 per cent, while Nifty also gained by 0.15 per cent. Similarly, in the broader markets Nifty Midcap has soared by 0.54 per cent, while Nifty Smallcap has significantly gained by 1.11 per cent.

India VIX is currently trading lower by 2.96 per cent, indicating a decline in market volatility.

European markets are set to open lower on Wednesday as sentiment turns cautious at the start of the new trading quarter. European Futures DAX trades marginally higher by 0.03 per cent while CAC and FTSE trades lower by 0.08 per cent and 0.49 per cent respectively.

Nifty Media, Nifty IT and Nifty Metal are among the top gainers while Nifty Realty, Nifty FMCG and Nifty Auto are among the top losers.

Shriram Finance, Divi’s Laboratories and TCS are among the top gainers while Nestle India, Bajaj Auto and HDFC Life are among the top losing stocks from the Nifty 50.

About 1664 stocks are advancing as against to 443 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:11 AM: In the ongoing trading session, benchmark indices are trading on a mixed note with Sensex marginally surging by 0.02 per cent while Nifty marginally plunged by 0.02 per cent. Similarly, in the broader indices Nifty Midcap experiences moderate gains of 0.31 per cent, while Nifty Smallcap has soared by 0.77 per cent.

India VIX is trading marginally lower by 1.07 per cent, indicating a slight decrease in market volatility.

Nifty Media, Nifty IT and Nifty Metal are among the top gaining sectors while Nifty Realty, Nifty PSU Bank and Nifty FMCG are among the top losers.

Top gainers in individual stocks are TCS, Tech Mahindra and Divi’s Laboratories, whereas Nestle India, Bajaj Auto and Britannia are among the leading losers in the Nifty 50.

The broader market sentiment is positive, with 1543 stocks advancing compared to 554 stocks declining.

Market Update at 9:30 AM: On Wednesday, Indian markets initiated the trading day on a negative note with Sensex opening moderately lower by 0.47 per cent, while Nifty also opened lower by 0.44 per cent. Similarly, in the broader indices Nifty Midcap opened moderately lower by 0.17 per cent, while Nifty Smallcap opened higher by 0.29 per cent.

India VIX has marginally increased by 0.6 per cent, indicating a marginal increase in market volatility.

Nifty Media and Nifty Metal are among the top gainers while Nifty Realty, Nifty FMCG and Nifty PSU Bank are among the top losers.

Shriram Finance, Hindalco and Ultratech Cement are among the top gainers while Nestle India, Bharti Airtel and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1274 stocks are advancing as against to 731 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:20 AM: U.S. stock markets declined on Tuesday, influenced by investor speculation that the Federal Reserve might postpone interest rate cuts. This sentiment was compounded by a downturn in Tesla shares, which fell after the company reported its first quarterly decrease in deliveries in almost four years.

The Dow Jones Industrial Average dropped 396.61 points, or 1 per cent, closing at 39,170.24. The S&P 500 decreased by 37.96 points, or 0.72 per cent, to 5,205.81, while the Nasdaq Composite fell 156.38 points, or 0.95 per cent, ending the day at 16,240.45.

The GIFT Nifty trends suggest a lacklustre beginning for the Indian Benchmark indices, with a decline of 142 points or 0.63 per cent. Nifty futures were observed trading at approximately the 22,465.50 level.

On Wednesday, oil prices saw an uptick as concerns over tightening supplies intensified, driven by a more significant than anticipated drop in U.S. crude stockpiles and rising geopolitical tensions.

Brent futures for June delivery increased by 20 cents, or 0.22 per cent, reaching USD 89.12 per barrel, and U.S. West Texas Intermediate (WTI) crude futures for May went up by 17 cents, or approximately 0.2 per cent, to USD 85.32 a barrel.

Both benchmarks had reached their highest levels since October the day before.

On April 02, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,622.69 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,952.72 crore.

Stock that is banned for trading in the F&O segment on April 03, 2024, is HINDCOPPER.