Market Wrap: Benchmark indices surged over 2 per cent with Nifty IT among the top gainers!

On Friday, Benchmark indices concluded the last trading sesion of the week on a positive note as Sensex significantly gained by 2.16 per cent and closed at 76,693.36 level, while Nifty gained by 2.05 per cent and closed at 23,290.15 level.

Market Update at 3:45 PM: On Friday, Benchmark indices concluded the last trading sesion of the week on a positive note as Sensex significantly gained by 2.16 per cent and closed at 76,693.36 level, while Nifty gained by 2.05 per cent and closed at 23,290.15 level. Similarly, the Broader market also experienced significant gains as Nifty Midcap closed higher by 1.49 per cent, while Nifty Smallcap soared by 2.31 per cent.

Market volatility, as indicated by India VIX, has slightly gained by 0.49 per cent and is trading around the level of 16 reflecting a decrease in market volatility.

Within the sectoral landscape all the major sectors were seen trading positively with Nifty IT, Nifty Auto, Nifty Energy and Nifty Metal, among the top gainers, while no major sector was seen trading in red towards the end of the session.

M&M, Wipro and Tech Mahindra were among the top gainers while on the other hand SBI Life and Tata Consumer Product were among the top losers.

About 1790 stocks were advancing as against to 331 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading significantly higher by 1.92 per cent, while Nifty surged by 1.81 per cent. Similarly, in the broader indices Nifty Midcap has soared by 1.21 per cent, while Nifty Smallcap has gained by 2.2 per cent.

India VIX is currently trading lower by 0.33 per cent and is trading around the level of 16 indicating decreased market volatility.

Within the sectoral landscape, all the major sectors are trading positively with Nifty IT, Nifty Auto, Nifty Energy and Nifty Pharma among the top gainers while no major sectors are underperforming as of now.

M&M, Wipro and Ultratech Cement are among the top gainers while SBI Life, Tata Consumer Product and Bajaj Auto are among the top losing stocks from the Nifty 50.

About 1813 stocks are advancing as against 306 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 positive note as Sensex has significantly gained by 1.84 per cent, while Nifty has also surged by 1.72 per cent. Similarly, in the broader indices Nifty Midcap has soared by 1 per cent, while Nifty Smallcap has gained by 1.91 per cent.

India VIX is trading flat around the mark of 16.5 indicating decreased market volatility.

European markets are set to open flat on Friday, after closing at a record high during the previous session. European futures DAX trades marginally lower by 0.04 per cent while CAC and FTSE trades higher by 0.06 per cent and 0.14 per cent respectively.

Additionally, in a surprising move, the European Central Bank cut rates for the first time since 2019 on Friday, signalling a major shift in global central bank policies. Attention now turns to the Federal Reserve and its potential rate cuts.

All the major sectors are trading positively with Nifty IT, Nifty Pharma, Nifty Realty and Nifty Metal among the top gainers while no major sectors are underperforming as of now.

Bajaj Finance, Wirpro and Infosys are among the top gainers within the Nifty 50 while, SBI Life, Bajaj Auto and Eicher Motors are among the top losers.

About 1781 stocks are advancing as against to 331 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading substantially higher by 1.14 per cent, while Nifty gained by 1.08 per cent. Similarly, in the broader indices Nifty Midcap experience significant gains of 1.03 per cent, while Nifty Smallcap has soared by 1.72 per cent.

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced the second bi-monthly monetary policy for FY24-25 on Friday. The RBI’s Monetary Policy Committee (MPC) decided to keep the benchmark repo rate steady at 6.5 per cent for the eighth consecutive time. The RBI also raised its GDP growth forecast for FY25 to 7.2 per cent from 7 per cent and retained the inflation forecast at 4.5 per cent.

India VIX is has declined by 2.16 per cent and is trading around the mark of 16, indicating decreased market volatility.

All the major sectors are trading positively with Nifty IT, Nifty Realty, Nifty Media and Nifty Pharma among the top gainers while no major sectors are underperforming as of now.

Top gainers in individual stocks are Wipro, LTIMindtree and Bajaj Finance whereas SBI Life, Bajaj Auto and Brootannia are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1798 stocks advancing compared to 313 stocks declining.

Market Update at 10:00 AM: On Friday, Indian markets initiated the trading day on a positive note with the Sensex opening moderately higher by 0.42 per cent, while Nifty also opened higher by 0.43 per cent. Similarly, in the broader indices Nifty Midcap opened higher with a gain of 0.56 per cent, while Nifty Smallcap has soared by 1.23 per cent.

India VIX has slightly gained by 0.12 per cent and is trading around the mark of 16, indicating slight increased market volatility.

Within the sectoral landscape Nifty IT, Nifty Realty and Nifty Metal were among the top gainers while Nifty FMCG was the only major sector which traded in red.

Wipro, LTIMindtree and Infosys are among the top gainers within the Nifty 50 while, SBI Life, Eicher Motors and Hindustan Unilever are among the top losers.

About 1731 stocks are advancing as against to 313 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:40 AM: The S&P 500 and Nasdaq Composite edged slightly lower on Thursday, retreating from the record highs achieved the previous day, as investors awaited a critical labour market report. Meanwhile, the Dow posted a modest gain.

U.S. 10-year Treasury yields rose by 14 basis points to 4.29 per cent, while 2-year Treasury yields increased by 9 basis points to 4.72 per cent.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a gain of 0.08 per cent or 19 points. Nifty futures are currently trading near the 22,933 mark.

Brent crude oil prices edged up by 0.06 per cent to USD 79.73 on Friday, continuing their rise after OPEC+ members Saudi Arabia and Russia signalled a possible pause or reversal in output agreements, coupled with an interest rate cut in Europe boosting expectations for a similar move in the U.S.

Brent crude futures increased by 16 cents, or 0.2 per cent, to USD 80.03 per barrel, while U.S. West Texas Intermediate crude futures also rose by 16 cents, or 0.2 per cent, to USD 75.71.

On June 06, 2024, foreign institutional investors (FII) offloaded shares worth Rs 6,867.72 crore, while domestic institutional investors (DII) bought shares worth Rs 3,718.38 crore.

Stock that is banned for trading in the F&O segment on June 07, 2024 is ZEEL.