Market Wrap: Benchmark indices make record highs while Nifty Smallcap significantly Underperformed!

On Wednesday, Benchmark indices concluded the trading day on a higher note as Sensex closed moderately higher by 0.55 per cent after making a new all-time high of 74,151.28 level, while Nifty also soared by 0.53 per cent and made a new record high of 22,497.20 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded the trading day on a higher note as Sensex closed moderately higher by 0.55 per cent after making a new all-time high of 74,151.28 level, while Nifty also soared by 0.53 per cent and made a new record high of 22,497.20 level. Similarly, the Broader market experienced underperformance as Nifty Midcap closed moderately lower by 0.52 per cent, while Nifty Smallcap closed significantly lower by 1.96 per cent.

Market volatility, as indicated by India VIX, has declined by 0.59 per cent, reflecting a slight decrease in market volatility.

Nifty Bank, Nifty IT and Nifty Pharma were among the top gainers while Nifty Media, Nifty Realty and Nifty Metal were among the top losers.

Bajaj Auto, Kotak Bank and Axis Bank were among the top gainers while Adani Enterprises, Ultratech Cement and NTPC were among the top losing stocks from the Nifty 50.

About 532 stocks were advancing as against to 1740 stocks that were declining, thus indicating a negative 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 0.25 per cent, while Nifty trades higher by 0.19 per cent. Whereas, in the broader indices Nifty Midcap plunged by 1.01 per cent, while Nifty Smallcap plummeted by 2.19 per cent.

India VIX is currently trading lower by 1.43 per cent, indicating a slight decrease in market volatility.

Nifty Bank and Nifty Financial Services are among the top gainers, while Nifty Media, Nifty Realty and Nifty Media are among the top losers.

Kotak Bank, Axis Bank and Bajaj Auto are among the top gainers while Adani Enterprises, NTPC and Ultratech Cement are among the top losing stocks from the Nifty 50.

About 403 stocks are advancing as against to 1872 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade lower with the Sensex plunging by 0.26 per cent, while Nifty plummeted by 0.38 per cent. Similarly in the broader indices experience substantial declines as Nifty Midcap has plunged by 1.85 per cent, while Nifty Smallcap has significantly declined by 3.07 per cent.

India VIX is currently trading lower by 1.64 per cent, indicating a slight decrease in market volatility.

European markets are seen opening flat to slightly higher on Wednesday ahead of a busy day on the economic calendar. European futures DAX, CAC and FTSE trade higher by 0.16 per cent, 0.04 per cent 0.10 per cent respectively.

Nifty Bank and Nifty Financial Services are among the top gainers, while Nifty Media, Nifty Realty and Nifty Metal are among the top losers.

Kotak Bank, Axis Bank and Bajaj Auto are among the top gainers while NTPC, Adani Enterprises and Ultratech Cement are among the top losing stocks from the Nifty 50.

About 236 stocks are advancing as against to 2035 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, benchmark indices are trading on a negative note, with Sensex trading moderately lower by 0.28 per cent while Nifty trades lower by 0.42 per cent. Similarly, in the broader indices Nifty Midcap experiences a significant decline of 1.76 per cent, while Nifty Smallcap plummets by 2.74 per cent.

India VIX is trading marginally higher by 0.66 per cent, indicating a slight increase in market volatility.

Nifty Bank and Nifty Financial Services are among the top gaining sectors while Nifty Media, Nifty Realty and Nifty Metal among the top losers.

Top gainers in individual stocks are Axis Bank, Kotak Bank and ICICI Bank, whereas NTPC, ONGC and Power Grid are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 249 stocks advancing compared to 2015 stocks declining.

Market Update at 9:35 AM: On Wednesday, Indian markets initiated the trading day on a negative note with Sensex opening marginally lower by 0.14 per cent, while Nifty also opened lower by 0.19 per cent. Whereas in the broader indices Nifty Midcap opened moderately lower by 0.35 per cent, while Nifty Smallcap opened substantially lower by 1.1 per cent.

India VIX has marginally declined by 0.82 per cent, indicating a slight decrease in market volatility.

Nifty Financial Services is the only major sector which is trading positively while Nifty Media, Nifty IT and Nifty PSU Bank are among the top losers.

SBI Life, Bajaj Auto and BPCL are among the top gainers while Power Grid, Wipro and Tech Mahindra are among the top losing stocks from the Nifty 50.

About 447 stocks are advancing as against to 1695 stocks that are declining, thus indicating a pessimistic sentiment in the broader market.

Pre-Market Update at 8:20 AM: On Tuesday, Wall Street equities experienced significant declines, while bitcoin and gold reached new record highs, with investors closely monitoring upcoming economic indicators and central bank policies.

The Dow Jones Industrial Average dropped by 404.64 points, or 1.04 per cent, closing at 38,585.19, while the S&P 500 decreased by 52.3 points, or 1.02 per cent, ending at 5,078.65. Similarly, the Nasdaq Composite fell by 267.92 points, or 1.65 per cent, to 15,939.59.

The GIFT Nifty shows a subdued beginning for the benchmark indices, with a decrease of 18 points or 0.08 per cent. Nifty futures were hovering around the 22,421.50 mark.

On Wednesday, oil prices experienced a slight decline due to apprehensions regarding demand growth in China, the largest importer of crude globally, juxtaposed with indications of supply constraints resulting from output reductions by significant producers.

Additionally, a weaker US dollar, which boosts demand for buyers using alternative currencies, provided support to prices. Brent crude futures decreased by 13 cents to USD 81.91 per barrel, while US West Texas Intermediate crude futures declined by 11 cents to USD 78.04 per barrel.

On March 05, 2024, foreign institutional investors (FII) bought shares worth Rs 574.28 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,834.61 crore.

Stock that is banned for trading in the F&O segment on March 06, 2024, is Zee Entertainment.