Market Wrap: Benchmark indices close lower with Nifty PSU Bank and Nifty Metal among the top losers!

On August 1, foreign institutional investors (FII) sold shares worth Rs 92.85 crore, while domestic institutional investors (DII) bought shares worth Rs 1,035.69 crore.

Market Update at 3:50 PM: Sensex and Nifty close on a lower note after declining by 1.02 per cent and 1.05 per cent respectively.

Nifty Midcap closes lower by 1.33 per cent while Nifty Smallcap declines by 1.58 per cent.

India VIX surged by 9.63 per cent.

All the major sectors were trading negative with Nifty Auto, Nifty PSU Bank and Nifty Metal among the top losers.

Divi’s Laboratories, Hindustan Unilever and Nestle India were among the top gainers while Tata Steel, Hero Motocorp and Tata Motors were among the top losers from the Nifty 50.

About 1148 stocks were advancing as against to 812 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:15 PM: Sensex and Nifty has plunged significantly by 1.54 per cent each.

Nifty Midcap and Nifty Smallcap trade substantially lower by 2.2 per cent each.

India VIX has surged by 14.3 per cent.

Currently all the major sectors are trading negative with Nifty Auto, Nifty PSU Bank and Nifty Metal are among the top losers.

Divi’s Laboratories, Hindustan Unilever and Nestle India are among the top gainers while Tata Steel, Hero Motocorp and Tata Motors are among the top losers from the Nifty 50.

About 336 stocks are advancing as against to 1646 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:10 AM: Sensex and Nifty declines substantially by 1.03 per cent each.

Nifty Midcap and Nifty Smallcap plunges by 1.04 per cent and 0.9 per cent respectively.

India VIX has surged by 9.05 per cent.

Currently all the major sectors are trading negative with Nifty Energy, Nifty PSU Bank and Nifty Metal among the top losers.

Divi’s Laboratories, Adani Enterprises and Nestle India are among the top gainers while Tata Steel, Hero Motocorp and NTPC are among the top losers from the Nifty 50.

About 608 stocks are advancing as against to 1350 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 9:40 AM: Sensex and Nifty trade lower by 0.53 per cent each.

Nifty Midcap and Nifty Smallcap trade lower by 0.48 per cent and 0.19 per cent respectively.

India VIX has surged by 3.99 per cent.

Nifty Media is among the top gainers whereas Nifty Metal, Nifty Bank and Nifty IT are among the top losers.

Maruti, Coal India and Adani Ports are among the top gainers while Tata Steel, Divi’s Laboratories and Hindalco are among the top losers from the Nifty 50.

About 951 stocks are advancing as against to 909 stocks that are declining, thus indicating a neutral sentiment in the broader market.

Pre-Market Update at 8:25 AM: US stock futures dropped following a downgrade of the United States' long-term rating by Fitch and ongoing evaluation of second-quarter earnings results. The S&P 500 had a lackluster start in August, closing down 0.27 per cent, while the Nasdaq Composite declined by 0.43 per cent. However, the Dow Jones Industrial Average managed to gain 0.2 per cent, reaching its highest level since February 2022 during the trading session.

Oil prices declined slightly as profit-taking took place following a rally in July, which was driven by expectations of reduced global supplies and increased demand in the second half of the year. Brent crude futures for October were at USD 84.72 per barrel, down 71 cents. Meanwhile, the Dollar index traded 0.47 per cent higher in futures at 102.11, and the value of one dollar remained close to Rs 82.31.

The benchmark indices are expected to open slightly lower, indicated by the GIFT Nifty showing a loss of 50 points. This comes after the Nifty closed down by 20 points at 19,733 points on August 1. The GIFT Nifty futures were recorded at 19,782 points.

On August 1, foreign institutional investors (FII) sold shares worth Rs 92.85 crore, while domestic institutional investors (DII) bought shares worth Rs 1,035.69 crore.

Stocks that are banned for trading in the F&O segment on August 2, 2023, are Hindustan Copper, Indiabulls Housing Finance and Piramal Enterprises Ltd.