Market Wrap: Benchmark indices declined while Nifty Smallcap outperformed!

In the latest market session, both the Sensex and Nifty concluded with slight drops of 0.39 per cent and 0.48 per cent respectively.

Market Update at 3:50 PM: In the latest market session, both the Sensex and Nifty concluded with slight drops of 0.39 per cent and 0.48 per cent respectively. On the flip side, Nifty Midcap posted a modest gain of 0.11 per cent, while Nifty Smallcap displayed notable growth, closing higher by 0.81 per cent.

Contributing to market movements, the India VIX saw a surge of 2.2 per cent, signalling increased market volatility.

Among the gainers were Nifty Realty and Nifty IT, while Nifty PSU Bank, Nifty Energy, and Nifty FMCG faced losses in the sectoral spectrum.

At the individual stock level, Maruti, Cipla, and HDFC Life emerged as prominent gainers, while Adani Enterprises, Adani Ports, and BPCL registered losses within the Nifty 50.

Market breadth remained positive, with approximately 1251 stocks advancing against 702 stocks experiencing declines. This distribution underscores the prevalent positive sentiment across the broader market.

Market Update at 12:35 PM: In the current market session, both the Sensex and Nifty are observing declines of 0.14 per cent and 0.22 per cent respectively. However, Nifty Midcap shows a slight upward movement of 0.13 per cent, and Nifty Smallcap registers a notable increase of 0.48 per cent.

Anticipating positive moves, European markets are set to open higher on Thursday, with UBS revealing its first results post the acquisition of Credit Suisse. European futures for DAX and FTSE are trading higher by 0.15 per cent and 0.19 per cent respectively.

Furthermore, the India VIX has experienced a surge of 3.22 per cent, signifying increased market volatility.

Top-performing sectors include Nifty Realty, Nifty IT, and Nifty Auto, while Nifty PSU Bank, Nifty FMCG, and Nifty Bank record losses.

Notable gainers among individual stocks comprise Jio Financial Services, Maruti, and LTIMindtree, whereas Adani Enterprises, Adani Ports, and Nestle India emerge as the top losers within the Nifty 50 index.

Market breadth remains positive, with approximately 1037 stocks advancing compared to 927 stocks witnessing declines. This distribution underscores the prevalent optimistic sentiment in the broader market

Market Update at 11:15 AM: In the current market session, the Sensex and Nifty experienced declines of 0.09 per cent and 0.18 per cent respectively. On the other hand, Nifty Midcap displayed a slight uptick of 0.11 per cent, and Nifty Smallcap surged by 0.46 per cent.

Adding to market dynamics, the India VIX surged by 2.03 per cent, contributing to increased volatility.

Prominent gainers among sectors include Nifty Media, Nifty IT, and Nifty Realty. However, Nifty PSU Bank, Nifty FMCG, and Nifty Bank faced losses.

Top gainers at the individual stock level encompass Jio Financial Services, Maruti, and Hindalco. Conversely, Adani Enterprises, Adani Ports, and BPCL emerged as the top losers within the Nifty 50 index.

Market breadth reflects positivity, with around 1015 stocks advancing compared to 942 stocks witnessing declines. This distribution underscores the prevalent positive sentiment within the broader market.

Market Update at 9:30 AM: In the latest market session, the Sensex and Nifty commenced trading with declines of 0.05 per cnet and 0.12 per cent respectively. Nifty Midcap opened with a gain of 0.09 per cent, while the Nifty Smallcap surged ahead by 0.33 per cent.

Adding to the market dynamics, the India VIX, which gauges market volatility, saw a suurge of 1.53 per cent, indicating increased market uncertainty.

Prominent gainers in the market's initial moves include Nifty Media, Nifty Metal, and Nifty IT. However, Nifty Financial Services, Nifty Bank, and Nifty Realty faced losses among sectors.

On an individual stock basis, Jio Financial Services, Hindalco, and Tech Mahindra emerged as top gainers. In contrast, Adani Enterprises, Adani Ports, and Eicher Motors stood out as the top losers within the Nifty 50 index.

Market breadth remains positive, with approximately 1160 stocks advancing compared to 653 stocks registering declines. This distribution underscores the prevalent positive sentiment in the broader market's outlook.

Pre-Market Update at 7:40 AM: Investors are transitioning from a favourable trading session, where major indices displayed gains on Wednesday. The S&P 500 concluded the day with a 0.38 per cent increase, while the Dow Jones Industrial Average edged up by 37.57 points, equivalent to 0.11 per cent. In the tech sector, the Nasdaq Composite exhibited notable growth with a rise of 0.54 per cent. This marked the fourth consecutive day of gains for these three key indices.

These positive movements have contributed to mitigating the monthly losses experienced by these major indexes. August saw the Dow and S&P 500 both undergoing declines of over 1 per cent, while the Nasdaq registered a decrease exceeding 2 per cent.

Oil prices continued to rise on Wednesday following U.S. government data revealing a more restricted-than-anticipated inventory of crude supplies in the largest fuel-consuming nation worldwide. Concurrently, concerns were elevated due to a Gulf of Mexico hurricane. In the commodities market, Brent crude futures for October climbed by 21 cents, reaching USD 85.70 per barrel. Meanwhile, the Dollar index experienced a 0.34 per cent decline in futures, resting at 103.18. Simultaneously, the value of one U.S. dollar hovered around Rs 82.65.

The GIFT Nifty suggests a slightly optimistic opening for the benchmark indices, showing a modest increase of 20 points. GIFT Nifty futures reached a level of 19,480 points, marking a peak at 19,487 points.

On August 30, foreign institutional investors (FII) sold shares worth Rs 494.68 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,323.24 crore.

Stocks that are banned for trading in the F&O segment on August 31, 2023, are BHEL and Indiabulls Housing Finance.