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

On Wednesday, Frontline indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.39 per cent concluding at 71,833.17 level, while Nifty also surged by 0.45 per cent and closed at 21,840.05 level.

Market Update at 3:45 PM: On Wednesday, Frontline indices concluded the trading day on a positive note as Sensex closed moderately higher by 0.39 per cent concluding at 71,833.17 level, while Nifty also surged by 0.45 per cent and closed at 21,840.05 level. Similarly, the Broader market also experienced substantial gains as Nifty Midcap closed higher by 1.04 per cent, while Nifty Smallcap soared by 1.61 per cent.

Market volatility, as indicated by India VIX, has plunged by 2.36 per cent, reflecting a decrease in market volatility.

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

BPCL, SBI and ONGC were among the top gainers while Tech Mahindra, Cipla and Sun Pharma were among the top losing stocks from the Nifty 50.

About 1485 stocks were advancing as against to 761 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a lower note with the Sensex plunging by 0.12 per cent, while Nifty declined by 0.06 per cent. Whereas, in the broader indices Nifty Midcap surged by 0.28 per cent, while Nifty Smallcap gained by 1.32 per cent.

India VIX is currently trading lower by 1 per cent, indicating a slight decrease in market volatility.

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

BPCL, SBI and ONGC are among the top gainers while Tech Mahindra, Cipla and HDFC Bank are among the top losing stocks from the Nifty 50.

About 1379 stocks are advancing as against to 860 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 trade on a negative note with the Sensex moderately declining by 0.41 per cent, while Nifty plunged by 0.35 per cent. Whereas, in the broader indices Nifty Midcap declined by 0.1 per cent, while Nifty Smallcap surged by 0.91 per cent.

India VIX is currently trading marginally lower by 0.60 per cent, indicating a slight decrease in market volatility.

European markets are set for a lower open on Wednesday as investors assessed incoming corporate earnings and inflation prints in both the US and the UK. European futures, DAX and FTSE trades marginally higher by 0.13 per cent and 0.38 per cent respectively, while CAC trades lower by 0.11 per cent.

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

BPCL, ONGC and Coal India are among the top gainers while Tech Mahindra, Cipla and Dr Reddy’s Laboratories are among the top losing stocks from the Nifty 50.

About 1288 stocks are advancing as against to 953 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 negative note, with Sensex trading lower by 0.62 and Nifty is showing a loss of 0.61 per cent. Similarly, in the broader indices Nifty Midcap experiences a moderate decline of 0.32 per cent, while Nifty Smallcap surged by 0.68 per cent.

India VIX is trading marginally lower by 0.57 per cent, indicating a slight decrease in market volatility.

Noteworthy gainers include Nifty Media, Nifty Metal and Nifty Energy, while Nifty IT, Nifty Pharma and Nifty Financial Services are among the top losers.

Top gainers in individual stocks are BPCL, Coal India and Adani Enterprises, whereas Tech Mahindra, Infosys and Cipla are among the leading losers in the Nifty 50.

The broader market sentiment has turned positive, with 1175 stocks advancing compared to 1060 declining.

Market Update at 9:30 AM: On Wednesday, Indian markets initiated the trading day on a negative note with the Sensex opening substantially lower by 0.95 per cent, while Nifty also opened lower by 0.86 per cent. Similarly, Nifty Midcap opened substantially lower by 1.19 per cent, while Nifty Smallcap opened lower by 0.49 per cent.

India VIX has surged by 1.85 per cent, indicating a slight increase in market volatility.

All the major sectors are underperforming as of now with Nifty IT, Nifty PSU Bank and Nifty Bank are among the top losers.

Adani Enterprises, Apollo Hospitals and BPCL are among the top gainers while Infosys, Tech Mahindra and Wipro are among the top losing stocks from the Nifty 50.

About 630 stocks are advancing as against to 1430 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:05 AM: Wall Street's primary indices experienced a significant downturn on Tuesday following a higher-than-anticipated consumer inflation report, which altered market expectations regarding imminent interest rate cuts, subsequently driving up US Treasury yields.

The Dow Jones Industrial Average recorded its most substantial one-day per centage decline in nearly 11 months following a Labor Department report revealing that US consumer prices surged beyond expectations in January, particularly in the cost of shelter.

The S&P 500 concluded the day down by 68.14 points, equivalent to a 1.37 per cent decrease, settling at 4,953.70 points, while the Nasdaq Composite retreated by 282.64 points, or 1.79 per cent, closing at 15,659.91. Simultaneously, the Dow Jones Industrial Average fell by 522.05 points, representing a 1.36 per cent decline, ending the day at 38,275.33 points.

The current trends in the GIFT Nifty suggest a sluggish beginning for the benchmark indices, with a decline of 185 points or 0.85 per cent. Nifty futures are currently trading near the 21,633 level.

On Tuesday, oil prices closed with an uptick as geopolitical tensions persisted in the Middle East and Eastern Europe. However, gains were limited as investors tempered their expectations for potential interest rate cuts by the US Federal Reserve.

Brent futures settled at USD 82.77 a barrel, marking a gain of 77 cents or 0.94 per cent. Similarly, US West Texas Intermediate (WTI) crude settled at USD 77.87 a barrel, climbing 95 cents higher or 1.24 per cent.

On February 13, 2024, foreign institutional investors (FII) bought shares worth Rs 376.32 crore, while domestic institutional investors (DII) purchased shares worth Rs 273.94 crore.

Stocks that are banned for trading in the F&O segment on February 14, 2024, are ABFRL, ASHOKLEY, AUROPHARMA, BALRAMCHIN, BANDHANBNK, BIOCON, DELTACORP, INDIACEM, INDUSTOWER, NATIONALUM, PNB, SAIL and ZEEL.