Market Wrap: Benchmark indices plummet after making new all-time highs!

On Wednesday’s trading session Benchmark indices concluded the day on a negative note with Sensex closing significantly lower by 1.3 per cent closing at 70,506.31, while Nifty plunged by 1.41 per cent closing at 21,150.15.

Market Update at 3:45 PM: On Wednesday’s trading session Benchmark indices concluded the day on a negative note with Sensex closing significantly lower by 1.3 per cent closing at 70,506.31, while Nifty plunged by 1.41 per cent closing at 21,150.15. Similarly, Broader indices also closed on a lower note with Nifty Midcap plunging by 3.27 per cent, while Nifty Smallcap declined by 3.63 per cent.

Market volatility, as indicated by India VIX, has marginally surged by 4.2 per cent, reflecting a slight increase in market volatility.

Nifty Media, Nifty PSU Bank, Nifty Metal and Nifty Energy were among the major losers, while no major sector traded positively.

ONGC, Tata Consumer Product and Britannia were among the top gainers while Adani Ports, Adani Enterprises and UPL were among the top losing stocks from the Nifty 50.

About 194 stocks were advancing as against to 1870 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session the Sensex has plunged by 0.58 per cent, while Nifty has plummeted by 0.66 per cent. Similarly, Nifty Midcap has also declined significantly by 1.94 per cent, while Nifty Smallcap has plummeted by 2.44 per cent.

India VIX has surged by 6.74 per cent, indicating an increase in market volatility.

Nifty FMCG is the only major sector which is trading positively while Nifty Media, Nifty PSU Bank and Nifty Metal are among the top underperforming sectors.

ONGC, Tata Consumer Product and Britannia are among the top gainers while Adani Ports, Adani Enterprises and UPL are among the top losing stocks from the Nifty 50.

About 283 stocks are advancing as against to 1786 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session the Sensex trades significantly higher by 0.26 per cent, while Nifty has soared by 0.33 per cent. Similarly, Nifty Midcap has surged by 0.5 per cent, while Nifty Smallcap has increased by 0.2 per cent.

India VIX has marginally surged by 1.44 per cent, indicating a slight increase in market volatility.

European markets are set to open higher on Wednesday, building positive momentum seen in the previous session. European futures DAX, CAC and FTSE trades higher by 0.04 per cent, 0.20 per cent and 0.32 per cent respectively.

Nifty FMCG, Nifty Energy and Nifty IT are among the top gainers while Nifty PSU Bank, Nifty Metal and Nifty Auto are among the underperforming sectors.

ONGC, Tata Consumer and Britannia are among the top gainers while Adani Ports, Tata Steel and HCL Technologies are among the top losing stocks from the Nifty 50.

About 1010 stocks are advancing as against to 1030 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:15 AM: In the current trading session the Sensex trades significantly higher by 0.52 per cent after making new all-time high of 71,913.07, while Nifty has soared by 0.57 per cent making a record high at 21,593. Similarly, Nifty Midcap has surged by 0.94 per cent, while Nifty Smallcap has increased by 0.86 per cent.

India VIX has marginally surged by 0.72 per cent, indicating a slight increase in market volatility.

Nifty Energy, Nifty IT and Nifty Media are among the top gainers while currently there are no major sectors which are underperforming.

Nestle India, Tata Consumer and Coal India are among the top gainers while Wipro, Adani Ports and Hindalco are among the top losing stocks from the Nifty 50.

About 1359 stocks are advancing as against to 662 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:35 AM: On Wednesday, Indian markets initiated the trading session on a positive note with the Sensex opening moderately higher by 0.6 per cent making a new all-time high of 71,880.15, while Nifty also opened substantially higher by 0.61 per cent reaching its new all-time high of 21,586.10. Similarly, Nifty Midcap opened on a higher note surging by 0.69 per cent, while Nifty Smallcap opened significantly higher by 0.84 per cent.

India VIX has marginally surged by 1.37 per cent, indicating a slight increase in market volatility.

Nifty IT, Nifty Energy and Nifty Media are among the top gaining sectors while currently there are no major underperforming sectors.

Eicher Motors, LTIMindtree and TCS are among the top gainers while M&M, Sun Pharma and Nestle India are among the top losing stocks from the Nifty 50.

About 1494 stocks are advancing as against to 416 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:20 AM: On December 19, Wall Street prolonged its rally, posting gains as the Federal Reserve's recent dovish policy shift continued to impact market sentiment, coupled with anticipation for significant inflation data.

The Dow Jones Industrial Average climbed by 251.9 points, or 0.68 per cent, reaching 37,557.92. Simultaneously, the S&P 500 saw an increase of 27.81 points, or 0.59 per cent, closing at 4,768.37, while the Nasdaq Composite added 98.03 points, or 0.66 per cent, settling at 15,003.22.

GIFT Nifty trends suggest a favourable opening for the benchmark indices in India, showing an increase of 87.50 points or 0.41 per cent. Nifty futures are currently trading around the 21,615.50 level.

BSE to levy additional exposure margin on derivatives:

On Tuesday, the BSE (Bombay Stock Exchange) announced that its subsidiary, Indian Clearing Corporation, will introduce an extra exposure margin of 15 per cent on securities falling under the market-wide position limit (MWPL). This decision comes against the backdrop of Indian benchmarks reaching new record highs this month, fuelled by heightened retail participation in the derivatives segment.

The additional exposure margin will be enforced starting January 1 and will be applicable to derivatives where the top 10 clients of brokerages contribute to over 20 per cent of the MWPL.

On Wednesday, oil prices surged by over a dollar per barrel, building upon the gains from the preceding session. This uptick followed attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea, causing disruptions in maritime trade and compelling several companies to reroute vessels.

Brent crude futures experienced a rise of USD 1.28, equivalent to 1.6 per cent, settling at USD 79.23 per barrel, marking the highest level since December 1. Concurrently, US West Texas Intermediate crude futures for January delivery, which expired after Tuesday's settlement, increased by 97 cents, or 1.3 per cent, concluding at USD 73.44 per barrel, also reaching the highest point in over two weeks.

On December 19, 2023, foreign institutional investors (FII) offloaded shares worth Rs 601.52 crore, while domestic institutional investors (DII) bought shares worth Rs 294.35 crore.

Stocks that are banned for trading in the F&O segment on December 20, 2023, are BALRAMCHIN, DELTACORP, INDUSTOWER, IRCT, MANAPPURAM, NATIONALUM, PEL, RBLBANK, SAIL and ZEEL.