Market Wrap: Frontline indices experience major declines, while broader indices also underperformed!

On Monday, Frontline indices concluded the day on a negative note as Sensex closed substantially lower by 0.93 per cent concluding at 71,355.22 level, while Nifty also closed significantly lower by 0.91 per cent closing at 21,513.

Market Update at 3:40 PM: On Monday, Frontline indices concluded the day on a negative note as Sensex closed substantially lower by 0.93 per cent concluding at 71,355.22 level, while Nifty also closed significantly lower by 0.91 per cent closing at 21,513. Similarly Broader indices closed lower with Nifty Midcap plunging by 1.04 per cent, while Nifty Smallcap plummeted by 0.62 per cent.

Market volatility, as indicated by India VIX, has surged by 7.01 per cent, reflecting a decrease in market volatility.

Nifty Realty and Nifty Media were among the top gainers, while Nifty PSU Bank, Nifty FMCG, Nifty Metal and Nifty Bank were among the top losers.

Adani Ports, HCL Technologies and ONGC were among the top gainers while UPL, SBI and SBI Life were among the top losing stocks from the Nifty 50.

About 752 stocks were advancing as against to 1492 stocks that were declining, thus indicating a slight pessimistic sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade lower with the Sensex plunging by 0.6 per cent, while Nifty also declined by 0.58 per cent. Similarly, Nifty Midcap has plunged by 0.64 per cent, while Nifty Smallcap trades lower by 0.28 per cent

India VIX is currently trading higher by 4.2 per cent, indicating an increase in market volatility.

Nifty Media, Nifty Realty and Nifty Energy are among the top gainers, while currently Nifty PSU Bank, Nifty FMCG and Nifty Metal were among the top losers.

Adani Ports, Power Grid and HCL Technologies are among the top gainers while UPL, Divi’s Laboratories and SBI Life are among the top losing stocks from the Nifty 50.

About 884 stocks are advancing as against to 1351 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade lower with the Sensex plunging by 0.5 per cent, while Nifty soared by 0.5 per cent. Similarly, Nifty Midcap has also plummeted by 0.68 per cent, while Nifty Smallcap is also experiencing a significant decline of 0.34 per cent.

India VIX is currently trading higher by 4.12 per cent, indicating a slight increase in market volatility.

European markets are set to open lower on Monday continuing the negative sentiment seen at the start of the trading in 2024. European futures DAX, CAC and FTSE trade lower by 0.01 per cent, 0.17 per cent and 0.29 per cent respectively.

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

Adani Ports, HCL Technologies and ONGC are among the top gainers while UPL, Divi’s Laboratories and Hindustan Unilever are among the top losing stocks from the Nifty 50.

About 838 stocks are advancing as against to 1395 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:11 AM: In the current trading session benchmark indices trade moderately lower with the Sensex plunging by 0.4 per cent, while Nifty also trades lower by 0.42 per cent. Similarly, Nifty Midcap has significantly plunged by 0.72 per cent, while Nifty Smallcap has also substantially declined by 0.51 per cent.

India VIX is currently trading higher by 5.42 per cent, indicating an increase in market volatility.

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

Adani Ports, ONGC and Hero Motocorp are among the top gainers while, Divi’s Laboratories, UPL and Tata Consumer are among the top losing stocks from the Nifty 50.

About 791 stocks are advancing as against to 1428 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 9:30 AM: On Monday, Indian markets initiated the trading week on a positive note with the Sensex opening moderately higher by 0.11 per cent, while Nifty also opened marginally higher by 0.09 per cent. Similarly Nifty Midcap opened marginally lower by 0.15 per cent, while Nifty Smallcap also opened marginally lower by 0.16 per cent.

India VIX has surged by 3.92 per cent, indicating a slight increase in market volatility.

Nifty Media, Nifty Realty and Nifty Energy are among the top gaining sectors while Nifty FMCG, Nifty PSU Bank and Nifty IT are among the top losers.

ONGC, BPCL and Tata Steel are among the top gainers while Hindustan Unilever, UPL and TCS are among the top losing stocks from the Nifty 50.

About 1368 stocks are advancing as against to 710 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:15 AM: US stock futures remained relatively stable on Sunday night after the major averages concluded the first week of 2024 with losses. Dow Jones Industrial Average futures declined by 35 points or 0.1 per cent, while S&P 500 and Nasdaq 100 futures increased by 0.14 per cent and 0.21 per cent, respectively. Over the weekend, congressional leaders announced a USD 1.59 trillion spending deal to avert a potential government shutdown.

Wall Street experienced its first losing week in 10, driven by underperformance in mega-cap tech stocks like Apple and rising Treasury yields. The Dow Jones Industrial Average fell 1.5 per cent, the S&P 500 slid 0.6 per cent, and the Nasdaq Composite had its worst weekly performance since September, dropping 3.25 per cent. Moreover, the yield on the 10-year Treasury swung back above 4 per cent.

The GIFT Nifty suggests a slightly positive commencement for the benchmark indices, showing a gain of 12 points. GIFT Nifty futures reached 21,786 points after reaching a peak of 21,797 points.

Oil prices rose Friday amid efforts by U.S. Secretary of State Antony Blinken to prevent the Israel-Gaza conflict from escalating. Brent crude futures increased by USD 1.42, or 1.83 per cent, reaching USD 79.01 a barrel, while U.S. West Texas Intermediate crude futures climbed USD 1.78, or 2.47 per cent, to USD 73.97.

Both benchmarks are poised to finish the first week of the year higher, nearly recovering from Thursday's losses following substantial U.S. gasoline and distillate stock builds.

The Dollar index in futures showed a 0.06 per cent increase, reaching 102.44, while the value of one dollar remained close to Rs 83.19.

On January 05, 2024, foreign institutional investors (FII) bought shares worth Rs 1,696.86 crore, while domestic institutional investors (DII) sold shares worth Rs 3,497.62 crore.

Stocks that are banned for trading in the F&O segment on January 08, 2024, are BALRAMCHIN, CHAMBLFERT, DELTACORP, ESCORTS, GNFC, IEX, INDIACEM, NATIONALUM, PEL, SAIL and ZEEL.