Market Wrap: Benchmark indices closed lower while Broader indices significantly underperformed!

The Sensex and Nifty have concluded the trading session with declines of 0.44 per cent and 0.47 per cent, respectively.

Market Update at 3:40 PM: The Sensex and Nifty have concluded the trading session with declines of 0.44 per cent and 0.47 per cent, respectively. Additionally, the Nifty Midcap has experienced a notable decrease of 1.38 per cent, while the Nifty Smallcap has closed with a 1.25 per cent decline.

Market volatility, as measured by the India VIX, has seen a significant drop of 1.7 per cent.

In terms of sectoral performance, Nifty IT and Nifty FMCG emerged as the top gainers, while Nifty PSU Bank, Nifty Realty, and Nifty Media were among the leading sectors showing losses.

Among individual stocks within the Nifty 50 index, Adani Enterprises, Nestle India, and Hindustan Unilever were among the top gainers, while Axis Bank, SBIN, and NTPC were among the leading losers.

Regarding the broader market sentiment, approximately 502 stocks recorded gains, while 1526 stocks faced declines, indicating a somewhat negative sentiment within the broader market.

Market Update at 2:05 PM: The Sensex and Nifty are showing declines of 0.82 per cent and 0.84 per cent, respectively, in their current trading sessions. Additionally, the Nifty Midcap is experiencing a substantial drop of 1.79 per cent, while the Nifty Smallcap is down by 1.53 per cent.

Market volatility, as measured by the India VIX, has seen a 2.46 per cent increase.

At present, no major sectors are demonstrating positive performance, with Nifty PSU Bank, Nifty Realty, and Nifty Media ranking among the top losers.

Among individual stocks within the Nifty 50 index, Adani Enterprises, Nestle India, and Eicher Motors are among the leading gainers, whereas Axis Bank, NTPC, and Indusind Bank are among the top losers.

In the broader market, approximately 390 stocks are advancing, while 1642 stocks are declining, indicating a prevailing negative sentiment.

Market Update at 12:35 PM: Sensex and Nifty are experiencing declines of 0.91 per cent and 0.92 per cent, respectively, in their current trading sessions. Furthermore, Nifty Midcap has seen a significant drop of 1.58 per cent, while Nifty Smallcap is down by 1.27 per cent.

European markets are expected to open with a negative outlook on Wednesday, reflecting a global sentiment downturn. European futures, including DAX, CAC, and FTSE, are showing declines of 0.46 per cent, 0.32 per cent, and 0.35 per cent, respectively.

The India VIX, a measure of market volatility, has witnessed a 2.27 per cent increase.

At present, no major sectors are showing positive performance, with Nifty PSU Bank, Nifty Realty, and Nifty Media among the leading losers.

Among individual stocks within the Nifty 50 index, Adani Enterprises, Nestle India, and Eicher Motors are among the top gainers, while Axis Bank, Ultratech Cement, and SBIN are among the leading losers.

In the broader market, approximately 474 stocks are advancing, while 1552 stocks are declining, indicating a prevailing negative sentiment.

Market Update at 11:11 AM: In the current market session, both the Sensex and Nifty are experiencing a decline, with the Sensex down by 0.61 per cent and the Nifty down by 0.58 per cent. Furthermore, the Nifty Midcap has seen a significant decline of 0.89 per cent, while the Nifty Smallcap has slipped by 0.34 per cent.

Market volatility, as measured by the India VIX, has shown a slight uptick, rising by 1.10 per cent.

In terms of sectoral performance, Nifty FMCG is the sole major sector showing positive momentum, while Nifty Pharma, Nifty Realty, and Nifty PSU Bank are among the leading losers.

Among individual stocks within the Nifty 50 index, Adani Enterprises, Nestle India, and HDFC Bank are among the top gainers, while Axis Bank, Indusind Bank, and Maruti are among the leading losers.

Looking at the broader market sentiment, around 746 stocks are advancing, outnumbering the 1230 stocks that are declining, indicating an overall negative sentiment within the broader market.

Market Update at 9:30 AM: In the market opening today, both the Sensex and Nifty have commenced with a downward trend, showing a decline of 0.72 per cent and 0.71 per cent, respectively. Additionally, the Nifty Midcap has opened notably lower by 0.85 per cent, while the Nifty Smallcap started with a 0.49 per cent dip.

There's an uptick in market volatility, with the India VIX surging by 3.05 per cent.

In terms of sectoral performance, Nifty FMCG stands as the sole major sector trading in the positive territory, while Nifty Energy, Nifty Realty, and Nifty Auto emerge as the top losers.

Among the individual stocks in the Nifty 50 index, Nestle India, Hindustan Unilever, and Adani Enterprises are among the top gainers, whereas NTPC, Axis Bank, and M&M face losses.

On a broader scale, approximately 573 stocks are advancing, outnumbering the 1263 stocks that are declining, indicating a negative sentiment in the broader market.

Pre-Market Update at 7:50 AM: US Stock futures are relatively unchanged on Tuesday night, following a challenging trading session that pushed the Dow Jones Industrial Average into negative territory for 2023. These market movements come after a bearish day on Wall Street, driven by job openings data signalling continued strength in the labour market and rising bond yields. The Dow recorded a 1.3 per cent decline, marking its most significant loss since March. Meanwhile, the S&P 500 fell by 1.4 per cent and briefly touched its lowest point since June, and the Nasdaq Composite closed 1.9 per cent lower.

After touching a three-week low on Tuesday, oil prices made a partial recovery as investors assessed various factors, including a stronger US dollar, dimming global economic indicators, and supply constraints. Brent crude oil futures saw a 10-cent decrease to reach USD 90.61 per barrel, having earlier dropped to USD 89.50, the lowest level since September. In the futures market, the Dollar Index was up by 0.20 per cent, trading at 107.12, while the value of one dollar remained close to Rs 83.24.

The GIFT Nifty suggests a slightly negative opening for the benchmark indices, showing a decline of 10 points. GIFT Nifty futures reached 19,444 points, having reached a peak of 19,454 points earlier.

On October 03, foreign institutional investors (FII) offloaded shares worth Rs 2,034.14 crore, while domestic institutional investors (DII) bought shares worth Rs 1,361.02 crore.

Indiabulls Housing Finance is the only stock that is banned for trading in the F&O segment on October 04, 2023.