Market Wrap: Benchmark indices make a strong start to a new month!
The new month kicks off on a strong note, with both Sensex and Nifty registering substantial gains, closing higher by 0.86 per cent and 0.94 per cent respectively.
Market Update at 3:35 PM: The new month kicks off on a strong note, with both Sensex and Nifty registering substantial gains, closing higher by 0.86 per cent and 0.94 per cent respectively. Additionally, Nifty Midcap displays a commendable 0.84 per cent increase, while Nifty Smallcap outperforms with a substantial 1.17 per cent rise.
Market volatility, as indicated by India VIX, has decreased significantly, declining by 5.80 per cent.
Leading the charge among gainers are Nifty Metal, Nifty Energy, and Nifty Auto, while Nifty Pharma emerges as the sole major sector underperforming.
Among individual stocks, Jio Financial Services, NTPC, and ONGC shine as top gainers, while Cipla, Dr. Reddy’s Laboratories, and HDFC Life face declines within the Nifty 50.
The market breadth indicates a slightly negative sentiment, with around 927 stocks advancing compared to 1033 stocks in decline. Nevertheless, the overall market sentiment remains robust as the new month begins.
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Market Update at 2:10 PM: In an impressive market display, both the Sensex and Nifty exhibit robust gains, with increases of 0.86 per cent and 0.93 per cent respectively. Additionally, Nifty Midcap records a commendable rise of 0.75 per cent, while Nifty Smallcap surges ahead by 1.13 per cent.
A noteworthy development is the significant drop in India VIX, which has plunged by 5.14 per cent, signalling reduced market volatility.
Leading the charge among gainers are Nifty Metal, Nifty Energy, and Nifty PSU Bank, while Nifty Pharma lags behind as the only major sector underperforming.
Among individual stocks, Jio Financial Services, ONGC, and NTPC are prominent gainers, while Dr. Reddy’s Laboratories, Ultratech Cement, and Cipla face declines within the Nifty 50.
The market breadth reflects a positive sentiment, with around 1298 stocks advancing compared to 701 stocks in decline, reinforcing the prevailing optimism in the broader market.
Market Update at 12:40 PM: In the current market scenario, both the Sensex and Nifty are demonstrating an upward trend, marking gains of 0.47 per cent and 0.57 per cent respectively. Furthermore, Nifty Midcap is on the rise with a 0.58 per cent increase, while Nifty Smallcap shows significant growth at 1.04 per cent.
On the global front, European markets are poised for a mixed opening on Friday, with investor attention focused on the upcoming US Jobs report. European Futures reflect this sentiment, as DAX trades lower by 0.29 per cent, while FTSE displays a modest increase of 0.21 per cent.
A notable highlight is the India VIX, which has experienced a substantial decline of 4.98 per cent, indicating reduced market volatility.
Prominent gainers in the Indian market encompass Nifty Metal, Nifty Energy, and Nifty PSU Bank. However, Nifty Pharma is the sole major sector underperforming.
Among individual stocks, Jio Financial Services, ONGC, and NTPC lead the gainers, while Divi’s Laboratories, HDFC Bank, and Cipla face losses within the Nifty 50.
Market breadth remains positive, with approximately 1275 stocks advancing compared to 724 stocks witnessing declines. This distribution underscores the overall optimistic sentiment prevailing in the broader market amidst global uncertainties.
Market Update at 11:05 AM: In the current market scenario, both the Sensex and Nifty are displaying upward movement, showing gains of 0.31 per cent and 0.42 per cent respectively. Additionally, Nifty Midcap showcases a rise of 0.22 per cent, while Nifty Smallcap witnesses a notable increase of 0.76 per cent.
Remarkably, the India VIX has experienced a sharp decline of 4.23 per cent, signifying reduced market volatility.
Prominent gainers encompass Nifty Metal, Nifty Energy, and Nifty Auto. However, Nifty Pharma emerges as the sole major sector that is underperforming in comparison.
Among individual stocks, Jio Financial Services, ONGC, and Tata Steel are notable gainers, while Asian Paints, Britannia, and Divi’s Laboratories face losses within the Nifty 50.
Market breadth indicates a favourable sentiment, with around 1288 stocks advancing and 682 stocks declining, contributing to the overall positive outlook across the broader market.
Market Update at 9:25 AM: As the market session unfolds, the Sensex and Nifty are observing upward moves of 0.14 per cent and 0.19 per cent respectively. Meanwhile, Nifty Midcap displays a slight rise of 0.04 per cent, and Nifty Smallcap opens with a notable increase of 0.44 per cent.
Adding to market dynamics, the India VIX has seen a decline of 1.33 per cent, signalling a reduction in market volatility.
Prominent gainers include Nifty Media, Nifty Metal, and Nifty Auto, while Nifty Bank stands as the sole major sector trading marginally lower.
Among individual stocks, Jio Financial Services, Hindalco, and Tata Steel emerge as top gainers, while NTPC, Adani Ports, and Adani Enterprises register losses within the Nifty 50.
Market breadth remains positive, with approximately 1305 stocks advancing against 460 stocks witnessing declines. This distribution underscores the prevalent optimistic sentiment across the broader market.
Pre-Market Update at 7:45 AM: Following a turbulent month in the US market, recent positive sessions aided in reducing monthly losses for stock indexes. Despite this, the S&P 500 experienced a decline of 1.77 per cent, while the Nasdaq witnessed a loss of 2.17 per cent. Moreover, the Dow, consisting of 30 stocks, faced a drop of 2.36 per cent over the course of August.
Oil prices pulled back from earlier highs on Thursday due to an increase in production among OPEC+ nations, despite a planned daily production cut of 1 million barrels. Brent crude futures climbed by 82 cents, reaching USD 86.69 per barrel, indicating a rise of 0.97 per cent. Meanwhile, the Dollar index experienced a 0.40 per cent increase in futures, standing at 103.57, with the value of one U.S. dollar hovering around Rs 82.65.
The GIFT Nifty suggests a slight downward beginning for the benchmark indices, reflecting a minor decline of 20 points. GIFT Nifty futures reached a level of 19,409 points, peaking at 19,410 points earlier.
On August 31, foreign institutional investors (FII) sold shares worth Rs 2,973.10 crore, while domestic institutional investors (DII) purchased shares worth Rs 4,382.76 crore.