Market Wrap: Benchmark indices surge while Broader indices also close higher note!

On Tuesday, Frontline indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.68 per cent concluding at 71,555.19 level, while Nifty also surged by 0.59 per cent and closed at 21,743.25 level.

Market Update at 3:50 PM: On Tuesday, Frontline indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.68 per cent concluding at 71,555.19 level, while Nifty also surged by 0.59 per cent and closed at 21,743.25 level. Similarly, the Broader market also experienced moderate gains as Nifty Midcap closed higher by 0.34 per cent, while Nifty Smallcap surged by 0.17 per cent.

Market volatility, as indicated by India VIX, has plunged by 1.59 per cent, reflecting a decrease in market volatility.

Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Energy were among the top gainers while Nifty Metal and Nifty Media were among the top losers.

Coal India, UPL and ICICI Bank were among the top gainers while Hindalco, Grasim and Ultratech Cement were among the top losing stocks from the Nifty 50.

About 1129 stocks were advancing as against to 1115 stocks that were declining, thus indicating a pessimistic 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 surging by 0.56 per cent, while Nifty gained by 0.43 per cent. Whereas, in the broader indices Nifty Midcap plunged by 0.15 per cent, while Nifty Smallcap plummeted by 0.45 per cent.

India VIX is currently trading lower by 0.73 per cent, indicating a slight decrease in market volatility.

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

Coal India, UPL and ICICI Bank are among the top gainers while Hindalco, Grasim and M&M are among the top losing stocks from the Nifty 50.

About 1052 stocks are advancing as against to 1196 stocks that are declining, thus indicating a slight negative sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade on a positive note with the Sensex moderately surging by 0.26 per cent, while Nifty gained by 0.13 per cent. Whereas, in the broader indices Nifty Midcap plummeted by 0.6 per cent, while Nifty Smallcap declined by 1.09 per cent.

India VIX is currently trading marginally lower by 0.19 per cent, indicating a slight decrease in market volatility.

European stocks are seen opening broadly lower on Tuesday as investors await cues from US CPI data due later in the day and British Inflation and Eurozone GDP data expected on Wednesday. European futures, DAX and FTSE trades marginally higher by 0.01 per cent and 0.11 per cent respectively, while CAC trades lower by 0.11 per cent.

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

Coal India, UPL and HDFC Life are among the top gainers while Hindalco, Grasim and M&M are among the top losing stocks from the Nifty 50.

About 756 stocks are advancing as against to 1490 stocks that are declining, thus indicating a negative 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 0.77 and Nifty is showing a gain of 0.69 per cent. Similarly, in the broader indices Nifty Midcap experiences a moderate gain of 0.36 per cent, while Nifty Smallcap plummeted by 0.08 per cent.

India VIX is trading marginally lower by 0.03 per cent, indicating a slight decrease in market volatility.

Noteworthy gainers include Nifty PSU Bank, Nifty Financial Services and Nifty Energy, while Nifty Metal, Nifty Realty and Nifty IT are among the top losers.

Top gainers in individual stocks are Coal India, UPL and ICICI Bank, whereas Hindalco, Grasim and HCL Technologies are among the leading losers in the Nifty 50.

The broader market sentiment has turned positive, with 1159 stocks advancing compared to 1077 declining.

Market Update at 9:35 AM: On Tuesday, Indian markets initiated the trading day on a mixed note with the Sensex opening marginally higehr by 0.04 per cent, while Nifty opened lower by 0.1 per cent. Similarly, Nifty Midcap opened substantially lower by 0.93 per cent, while Nifty Smallcap opened lower by 1.83 per cent.

India VIX has surged by 2.54 per cent, indicating an increase in market volatility.

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

Hero Motocorp, Divi’s Laboratories and Coal India are among the top gainers while Hindalco, JSW Steel and Power Grid are among the top losing stocks from the Nifty 50.

About 283 stocks are advancing as against to 1817 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:00 AM: Monday afternoon saw a slight retreat in the Nasdaq's performance after briefly surpassing its previous record closing high set in November 2021. Meanwhile, the Dow experienced modest gains ahead of the release of two key US inflation reports scheduled for later in the week, which have the potential to impact Federal Reserve policy decisions.

Investors remained focused on upcoming data releases, including January's Consumer Price Index (CPI) and Producer Price Index (PPI), to assess the likelihood of future interest rate adjustments. Additionally, market participants are anticipating data on industrial production, retail sales, and the preliminary University of Michigan consumer sentiment index throughout the week.

The S&P 500 concluded the session down by 4.12 points, or 0.08 per cent, reaching 5,022.49 points, while the Nasdaq Composite retreated by 42.74 points, or 0.27 per cent, closing at 15,947.92. Conversely, the Dow Jones Industrial Average recorded a gain of 135.76 points, equivalent to 0.35 per cent, ending the day at 38,807.45 points.

The GIFT Nifty is showing promising signs of a favourable beginning for the benchmark indices, marking an increase of 52.50 points or 0.24 per cent. Nifty futures are currently trading near the 21,745 level.

On Tuesday, oil prices remained relatively stable for the second consecutive day, as concerns regarding the timing of potential U.S. interest rate adjustments and their implications for fuel consumption overshadowed apprehensions about tensions in the Middle East that could disrupt the oil supply chain.

Brent futures experienced a marginal decrease of 1 cent, settling at USD 81.99 per barrel, while U.S. West Texas Intermediate (WTI) crude saw a nominal increase of 1 cent, reaching USD 76.93 per barrel.

On February 12, 2024, foreign institutional investors (FII) bought shares worth Rs 126.60 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,711.75 crore.

Stocks that are banned for trading in the F&O segment on February 13, 2024, are ABFRL, ASHOKLEY, AUROPHARMA, BALRAMCHIN, BANDHANBNK, BIOCON, DELTACORP, HINDCOPPER, INDIACEM, INDUSTOWER, PNB, SAIL and ZEEL.