Market Wrap: Benchmark indices reach new highs while Nifty Bank surges over 2.5 per cent!

On Friday, Benchmark indices concluded the trading day on a higher note as Sensex closed substantially higher by 1.72 per cent after making a new all-time high of 73,819.21 level, while Nifty also soared by 1.62 per cent and made a new all-time high 22,353.30 level.

Market Update at 3:35 PM: On Friday, Benchmark indices concluded the trading day on a higher note as Sensex closed substantially higher by 1.72 per cent after making a new all-time high of 73,819.21 level, while Nifty also soared by 1.62 per cent and made a new all-time high 22,353.30 level. Similarly, the Broader market also experienced significant gains as Nifty Midcap closed higher by 0.94 per cent, while Nifty Smallcap soared by 0.52 per cent.

Market volatility, as indicated by India VIX, has declined by 4.64 per cent, reflecting decrease in market volatility.

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

Tata Steel, JSW Steel and L&T were among the top gainers while Dr Reddy’s Laboratories, HCL Technologies and Sun Pharma were among the top losing stocks from the Nifty 50.

About 1559 stocks were advancing as against to 711 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:50 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading substantially higher by 1.7 per cent, while Nifty trades higher by 1.62 per cent. Similarly, in the broader indices Nifty Midcap surged by 0.91 per cent, while Nifty Smallcap soared by 0.5 per cent.

India VIX is currently trading lower by 1.28 per cent, indicating a decrease in market volatility.

Nifty Metal, Nifty Bank and Nifty Energy are among the top gainers, while Nifty Media, Nifty Pharma and Nifty IT are among the top losers.

Tata Steel, L&T and JSW Steel are among the top gainers while Dr Reddy’s Laboratories, Sun Pharma and HCL Technologies are among the top losing stocks from the Nifty 50.

About 1571 stocks are advancing as against to 686 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:30 PM: In the current trading session benchmark indices trade significantly higher with the Sensex making a new all-time high of 73,587.82 level after surging over 1.44 per cent, while Nifty also made a new all-time high of 22,304 level after surging over 1.42 per cent. Similarly in the broader indices Nifty Midcap has soared by 0.68 per cent, while Nifty Smallcap has also surged by 0.46 per cent.

India VIX is currently trading lower by 0.69 per cent, indicating a decrease in market volatility.

European stocks may open on a positive note on Friday as January U.S. Inflation data reinforced expectations for a June cut to interest rates. European futures DAX, CAC and FTSE trades higher by 0.25 per cent, 0.59 per cent and 0.63 per cent respectively.

Nifty Metal, Nifty Energy and Nifty Bank are among the top gainers, while Nifty Media, Nifty Pharma and Nifty IT are among the top losers.

Tata Steel, JSW Steel and L&T are among the top gainers while Britannia, HCL Technologies and Apollo Hospitals are among the top losing stocks from the Nifty 50.

About 1677 stocks are advancing as against to 575 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:11 AM: In the ongoing trading session, benchmark indices are trading on a higher note, with Sensex trading higher by 1.04 per cent while Nifty trades higher by 1.06 per cent. Similarly, in the broader indices Nifty Midcap experiences a moderate surge of 0.53 per cent, while Nifty Smallcap soars by 0.49 per cent.

India VIX is trading marginally lower by 2.17 per cent, indicating a slight decrease in market volatility.

Nifty Metal, Nifty Energy and Nifty Bank are among the top gaining sectors while Nifty Media, Nifty Pharma and Nifty IT among the top losers.

Top gainers in individual stocks are Tata Steel, JSW Steel and BPCL, whereas Cipla, Infosys and Sun Pharma are among the leading losers in the Nifty 50.

The broader market sentiment is positive, with 1667 stocks advancing compared to 521 declining.

Market Update at 9:35 AM: On Friday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.59 per cent, while Nifty also opened higher by 0.66 per cent. Similarly, in the broader indices Nifty Midcap opened moderately higher by 0.55 per cent, while Nifty Smallcap also opened higher by 0.66 per cent.

India VIX has marginally declined by 2.38 per cent, indicating a marginal decrease in market volatility.

Nifty Metal, Nifty Energy and Nifty Auto are among the top gainers while Nifty Media and Nifty Pharma are among the top losers.

ONGC, BPCL and Tata Steel are among the top gainers while Apollo Hospitals, Sun Pharma and Infosys are among the top losing stocks from the Nifty 50.

About 1824 stocks are advancing as against to 312 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:50 AM: Thursday marked the Nasdaq's return to a record high close, its first in over two years. The surge was driven by investor optimism surrounding artificial intelligence, particularly boosting stocks like Nvidia.

The Nasdaq gained 144.18 points, or 0.90 per cent, reaching 16,091.92, surpassing its previous record set on November 19, 2021.

The GIFT Nifty shows a robust beginning for benchmark indices, with a rise of 203 points or 0.92 per cent. Nifty futures were seen trading near the 22,186 level.

India's fiscal deficit for April-January expanded to Rs 11.03 lakh crore, comprising 64 per cent of the fiscal year 2023-24 target, according to data from the Controller General of Accounts released on February 29. This figure increased from Rs 9.82 lakh crore reported for April-December. The current fiscal deficit represents 63.6 per cent of the revised estimate of Rs 17.35 lakh crore, compared to the original budget estimate of Rs 17.87 lakh crore.

Thursday saw oil prices inching higher, driven by reinforced expectations of a potential interest rate cut in June following US inflation data, which bolstered demand outlook. Additionally, remarks from US President Joe Biden hinting at continuing conflict in Gaza heightened supply sentiments.

Brent crude futures for April delivery, set to expire on Thursday, increased by 9 cents to reach USD 83.77 a barrel. The more actively traded May contract saw a rise of 58 cents to USD 82.73, while the April US crude contract climbed 65 cents to USD 79.19 per barrel.

On February 29, 2024, foreign institutional investors (FII) bought shares worth Rs 3,568.11 crore, while domestic institutional investors (DII) offloaded shares worth Rs 230.21 crore.