Market Wrap: Sensex and Nifty close lower while Broader markets underperform!

On Tuesday, Benchmark indices concluded trading day on a negative note as Sensex moderately declined by 0.29 per cent and closed at 75,170.46 level, while Nifty plunged by 0.19 per cent and closed at 22,888.15 level.

Market Update at 3:35 PM: On Tuesday, Benchmark indices concluded trading day on a negative note as Sensex moderately declined by 0.29 per cent and closed at 75,170.46 level, while Nifty plunged by 0.19 per cent and closed at 22,888.15 level. Similarly, the Broader market experienced negative performance as Nifty Midcap closed lower by 0.89 per cent, while Nifty Smallcap plunged by 85 per cent.

Market volatility, as indicated by India VIX, has surged 4.12 per cent and is trading above the level of 24 reflecting heightened market volatility.

Nifty Pharma, Nifty Media and Nifty Financial Services closed positively while Nifty Realty, Nifty PSU Bank and Nifty Energy were the major sectors which underperformed.

Divi’s Laboratories, SBI Life and HDFC Life were among the top gainers while Adani Ports, Power Grid and BPCL were among the top losing stocks from the Nifty 50.

About 566 stocks were advancing as against to 1544 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:30 PM: In the current trading session benchmark indices trade on a lower note with the Sensex trading lower by 0.1 per cent, while Nifty slightly plunged by 0.04 per cent. Similarly, in the broader indices Nifty Midcap has significantly declined by 0.89 per cent, while Nifty Smallcap has plummeted by 0.68 per cent.

India VIX is currently trading higher by 3.77 per cent and is trading above the level of 24 indicating heightened market volatility.

Nifty Media, Nifty Pharma and Nifty FMCG are the major sectors which are trading positively while Nifty Realty, Nifty PSU Bank and Nifty Energy are among the top losers.

Divi’s Laboratories, Hero Motocorp and HDFC Life are among the top gainers while Adani Ports, BPCL and Coal India are among the top losing stocks from the Nifty 50.

About 597 stocks are advancing as against 1515 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 on a negative note as Sensex has marginally declined by 0.17 per cent, while Nifty has also plunged by 0.18 per cent. Similarly, in the broader indices Nifty Midcap has plummeted by 1.29 per cent, while Nifty Smallcap has plunged by 1.28 per cent.

India VIX is up by 5.51 per cent and is trading above the level of 24, indicating heightened market volatility.

European markets are poised to open mixed on Tuesday after a quiet start to the trading week in which key global markets were closed. European futures DAX and FTSE trades slightly higher by 0.12 per cent and 0.09 per cent respectively, while CAC trades lower by 0.05 per cent.

Nifty Pharma is the only major sector which is trading positively while Nifty Realty, Nifty PSU Bank and Nifty Media are among the top losers.

Divi’s Laboratories, HDFC Life and SBI Life are among the top gainers while Adani Ports, BPCL and Coal India are among the top losing stocks from the Nifty 50.

About 477 stocks are advancing as against to 1616 stocks that are declining, thus indicating a negative 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 marginally higher by 0.1 per cent, while Nifty gained by 0.17 per cent. Whereas, in the broader indices Nifty Midcap experience losses of 0.17 per cent, while Nifty Smallcap has declined by 0.13 per cent.

India VIX is has gained by 3.51 per cent and is trading above the mark of 24, indicating heightened market volatility.

Nifty Pharma, Nifty Metal and Nifty Auto are trading positively while Nifty Realty, Nifty Energy and Nifty PSU Bank are among the top losers.

Top gainers in individual stocks are Divi’s Laboratories, HDFC Life and Hero Motocorp, whereas Coal India, Adani Ports and Power Grid are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 788 stocks advancing compared to 1284 stocks declining.

Market Update at 9:35 AM: On Tuesday, Indian markets initiated the trading day on a positive note with the Sensex opening higher by 0.21 per cent, while Nifty also opened higher by 0.22 per cent. Similarly, in the broader indices Nifty Midcap opened on a positive note with a gain of 0.16 per cent, while Nifty Smallcap has surged by 0.19 per cent.

India VIX has slightly gained by 0.59 per cent and is trading above the level of 23, indicating heightened market volatility.

Nifty Metal, Nifty Pharma and Nifty Media are trading positively while Nifty Realty, Nifty IT and Nifty FMCG are among the top losers.

Hindalco, Divi’s Laboratories and Dr Reddy’s Laboratories are among the top gainers while Tech Mahindra, Adani Ports and Eicher Motors are among the top losing stocks from the Nifty 50.

About 1033 stocks are advancing as against to 930 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:50 AM: U.S. markets remained closed on Monday on account of Memorial Day.

The GIFT Nifty indicates a slight negative start for the Indian Benchmark indices, with a decline of 0.02 per cent or 5 points. Nifty futures are currently trading near the 23,118 mark.

Oil prices remained steady in early Asian trading on Tuesday as investors awaited inflation data to gauge future U.S. monetary policy and the production decisions from the OPEC+ meeting on June 2.

Brent crude July contract had dropped 3 cents to USD 83.07 a barrel, while the more-active August contract slipped 4 cents to USD 82.85. U.S. West Texas Intermediate (WTI) crude futures for July were at USD 78.68, up 96 cents, or 1.2 per cent, from Friday's close, after trading without a settlement through the U.S. Memorial Day holiday.

Oil prices rose over 1 per cent on Monday in muted trading due to public holidays in Britain and the United States, following a downbeat week marked by concerns over U.S. interest rates amid persistent inflation.

On May 27, 2024, foreign institutional investors (FII) offloaded shares worth Rs 541.22 crore, while domestic institutional investors (DII) purchased shares worth Rs 922.60 crore.

Stocks that are banned for trading in the F&O segment on May 28, 2024, are BIOCON, GNFC, HINDCOPPER, IDEA and PEL.