Market Wrap: Benchmark indices make new record highs while Nifty Smallcap outperforms!

On Wednesday, Benchmark indices concluded the trading day a positive note as Sensex gained by 0.69 per cent and made a record high at 80,074.30 level, while Nifty also surged by 0.67 per cent and also made a new all-time high at 24,309.15 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded the trading day a positive note as Sensex gained by 0.69 per cent and made a record high at 80,074.30 level, while Nifty also surged by 0.67 per cent and also made a new all-time high at 24,309.15 level. Similarly, the Broader market also experienced gains as Nifty Midcap closed higher by 0.79 per cent, while Nifty Smallcap soared by 1.03 per cent.

Market volatility, as indicated by India VIX, has declined by 2.84 per cent and is trading around the level of 13 reflecting a slight decrease in market volatility.

Within the sectoral landscape, Nifty Financial Services, Nifty Bank and Nifty PSU Bank were among the top gainers, while Nifty Media was the only sector which underperformed.

Tata Consumer Product, Adani Ports and Kotak Bank were among the top gainers while on the other hand TCS, Titan and Reliance were among the top losers.

About 1503 stocks were advancing as against to 806 that were declining, thus indicating a slight positive sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a positive note with the Sensex trading higher by 0.59 per cent, while Nifty gained by 0.58 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.47 per cent, while Nifty Smallcap has soared by 0.76 per cent.

India VIX has slightly declined by 2.6 per cent and is trading around the level of 13 indicating a slight decrease in market volatility.

Within the sectoral landscape, Nifty Financial Services, Nifty Bank and Nifty PSU Bank are among the top gainers while Nifty Energy, Nifty Realty and Nifty Media are among the major sectors which are underperforming.

Tata Consumer Product, Axis Bank and HDFC Bank are among the top gainers while TCS, Reliance and Titan are among the top losing stocks from the Nifty 50.

About 1530 stocks are advancing as against 781 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices have surged with Sensex trading higher by 0.64 per cent while Nifty also gained by 0.65 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.44 per cent, while Nifty Smallcap has soared by 0.78 per cent.

India VIX is has marginally gained by 1.76 per cent and is trading around the mark of 13 indicating a slight decrease in market volatility.

European stocks are expected to open higher on Wednesday, reversing a negative trend seen in the previous trading session. European futures DAX, CAC and FTSE trade higher by 0.44 per cent, 66 per cent and 0.55 per cent respectively.

Within the sectoral landscape Nifty Financial Services, Nifty Bank and Nifty PSU Bank are among the top gainers while Nifty Media and Nifty Energy are among the top losers.

Tata Consumer Product, HDFC Bank and Axis Bank are among the top gainers within the Nifty 50 while, Reliance, TCS and Hindalco are among the top losers.

About 1637 stocks are advancing as against to 672 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 positive note with Sensex trading higher by 0.61 per cent, while Nifty gained by 0.6 per cent. Similarly in the broader indices Nifty Midcap experience gains of 0.4 per cent, while Nifty Smallcap has surged by 0.57 per cent.

India VIX is has declined by 0.77 per cent and is trading round the mark of 13, indicating a slight decrease in market volatility.

Within the sectoral landscape, Nifty Financial Services, Nifty Bank and Nifty FMCG are among the top gainers while Nifty IT and Nifty Energy are among the top losers.

Top gainers in individual stocks are HDFC Bank, Tata Consumer Product and Axis Bank whereas, TCS, Hindalco and Reliance are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1631 stocks advancing compared to 667 stocks declining.

Market Update at 9:40 AM: On Wednesday, Indian markets opened on a positive note, with Nifty and Sensex experiencing significant gains and making new record highs. Similarly, the Broader indices also displayed resilience. Nifty Financial Services emerged as the top gainer, while Nifty IT experienced the largest losses.

The Sensex is trading up by 0.6 per cent making a record high at 80,039.22 mark while the Nifty has also surged by 0.58 per cent and made a new all-time high at 24,292.15 level. Similarly, in the broader, the Nifty Midcap gained by 0.5 per cent while the Nifty Smallcap surged by 0.59 per cent.

India VIX has slightly declined by 1 per cent and is trading below the mark of 14, indicating marginal decrease in market volatility.

Within the sectoral landscape Nifty Financial Services, Nifty Bank and Nifty PSU Bank were among the top gainers while Nifty IT is the only major sector which is underperforming.

HDFC Bank, Britannia and Axis Bank are among the top gainers within the Nifty 50 while TCS, Tata Motors and Infosys are among the top losers.

About 1636 stocks are advancing as against to 573 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:20 AM: U.S. stocks moved higher while U.S. Treasury yields dipped on Tuesday as markets assessed data indicating a persistently tight labour market and considered the potential for interest rate cuts following comments from Federal Reserve Chair Jerome Powell.

Speaking at a conference in Portugal, Powell emphasized the need for more data before cutting rates to ensure that recent weaker inflation readings accurately reflect underlying price pressures.

The Dow Jones Industrial Average increased by 0.41 per cent to 39,331.85, the S&P 500 climbed 0.62 per cent to 5,509.01, and the Nasdaq Composite advanced by 0.84 per cent to 18,028.76.

The U.S. 10-year Treasury yield stood at 4.42, and the 2-year Treasury yield remained flat at 4.74 in early Wednesday trading.

The GIFT Nifty indicates a negative start for the Indian Benchmark indices, with a slight decline of 0.09 per cent or 22 points. Nifty futures are currently trading near the 24,210.90 mark.

Oil prices inched higher in early Asian trading on Wednesday following industry data that revealed a larger-than-anticipated decline in U.S. crude inventories. This bolstered optimism for strong fuel demand during the summer driving season in the world's largest oil consumer.

Brent crude futures rose by 16 cents, or 0.2 per cent, to USD 85.60 a barrel. U.S. West Texas Intermediate crude futures increased by 14 cents, or 0.2 per cent, to USD 82.95 a barrel.

On July 02, 2024, foreign institutional investors (FII) sold shares worth Rs 2,000.12 crore, while domestic institutional investors (DII) bought shares worth Rs 648.25 crore.

Stocks that are banned for trading in the F&O segment on July 03, 2024, are INDIACEM and INDUSTOWER.