Market Wrap: Benchmark indices close on a negative note with Nifty Realty and Auto among the top losers!

Sensex declined by 2.10 per cent and closed at 82,497.10, while Nifty declined by 2.12 per cent and closed at 25,250.10 level.

Market Update at 3:40 PM: On Thursday, Benchmark indices concluded the trading day on a negative note as Sensex declined by 2.10 per cent and closed at 82,497.10, while Nifty declined by 2.12 per cent and closed at 25,250.10 level. However, the Broader market, Nifty Midcap closed lower by 2.21 per cent at 59,024.70, while Nifty Smallcap closed lower by 1.96 per cent and closed at 18,952.60.

Market volatility, as indicated by India VIX, rose by 9.84 per cent and is trading at the level of 13.17 reflecting a rise in market volatility.

Within the sectoral landscape, no sector emerged as Top Gainers, while Nifty Realty, Nifty Auto and Nifty Energy are the sectors which underperformed.

JSWSTEEL and ONGC were among the top gainers while on the other hand BPCL, SHRIRAMFIN, and LT were among the top losers.

About 396 stocks were advancing as against to 1,926 that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 1:00 PM: In the current trading session benchmark indices have significantly dipped with Sensex trading lower by 1.68 per cent while Nifty trading lower by 1.67 per cent. However, in the broader indices Nifty Midcap declined by 1.71 per cent, while Nifty Smallcap declined by 1.54 per cent.

India VIX slightly rose by 11.36 per cent and is trading around the mark of 13.35 indicating a rise in market volatility.

European markets are anticipated to start Thursday with a cautious tone, as investor sentiment remains subdued amid continuing geopolitical tensions in the Middle East. European futures show the DAX down by 0.35%, the CAC decreasing by 0.36%, while the FTSE is up by 0.47%

In the sectoral landscape no sector emerged as Top Gainers, while Nifty Realty, Nifty infra, and Nifty Energy are the sectors which are underperforming.

JSW STEEL, DR REDDY, and TATA STEEL are among the top gainers within the Nifty 50 while, BPCL, ASIAN PAINT, and LT are among the Top Losers.

About 636 stocks are advancing as against to 2,033 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:10 AM: During the ongoing trading session, benchmark indices are showing a negative trend, with the Sensex down by 1.49 per cent and the Nifty down by 1.49 per cent. However, in the broader market, the Nifty Midcap declined by 1.42 per cent, while the Nifty Smallcap declined by 1.40 per cent.

India VIX rose by 11 per cent and is trading around the mark of 13.32, indicating a rise in market volatility.

In the sectoral landscape no sector emerged as Top Gainers, while Nifty Realty, Nifty Auto, and Nifty Energy are the sectors which are underperforming.

Top gainers in individual stocks are JSWSTEEL, ONGC, and DRREDDY while, BPCL, SHRIRAMFIN, and TATAMOTORS are among the Top Losers in the Nifty 50.

The broader market sentiment is negative, with 494 stocks advancing compared to 1,825 stocks declining.

Market Update at 9:25 AM: On Thursday, Indian markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Metal led the gains, while Nifty Realty was the biggest laggard.

As of now, the Sensex is down by 0.88 per cent, hovering around 83,510, and Nifty is down by 0.88 per cent, trading near 25,570. However, in the broader market performed, the Nifty Midcap is down by 0.77 per cent to approximately 59,910, and the Nifty Smallcap is down by 0.75 per cent, trading near 19,180.

India VIX surged by 6.92 per cent and is trading at 12.82, indicating a rise in market volatility.

Within the sectoral landscape only Nifty Metal is among the top gainers while Nifty Realty and Nifty Auto and Nifty FMCG are the sectors which are underperforming.

JSWSTEEL, ONGC, and TATASTEEL are among the top gainers within the Nifty 50 while EICHERMOT, BPCL, and TATAMOTORS are among the top losers.

About 515 stocks are advancing as against to 1,666 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:15 AM: The S&P 500 saw minimal movement on Wednesday, as tech stocks rose but concerns over Middle East tensions and upcoming U.S. labor data kept investors cautious.

The Dow Jones Industrial Average added 39.55 points (0.09 per cent) to close at 42,196.52. Meanwhile, the S&P 500 edged up by 0.79 points (0.01 per cent) to 5,709.54, and the Nasdaq Composite increased by 14.76 points (0.08 per cent), reaching 17,925.12.

The GIFT Nifty is trading lower, signaling a weak opening for the day. Nifty futures are currently trading at 26,098.50.

Treasuries continued to drop, causing short-term yields to rise after Federal Reserve Chair Jerome Powell took a cautious approach, stating that interest rates will be lowered "over time." He also reiterated that the overall economy remains strong.

The U.S. 10-year Treasury yield climbed by 30 basis points to 3.79 per cent, while the 2-year bond yield increased by 11 basis points to 3.64 per cent.

Oil prices climbed on Wednesday due to concerns that the Middle East conflict could escalate into a larger war, potentially disrupting oil supplies from this major producing region after Iran launched ballistic missiles at Israel. Brent crude for December rose 65 cents to $74.55, while WTI November futures rose 71 cents to $70.83.

On October 1, 2024, foreign institutional investors (FII) sold shares worth Rs 5,579 crore, while domestic institutional investors (DII) bought shares worth Rs 4,609 crore.

Stocks that are banned for trading in the F&O segment on October 03, 2024, are BANDHANBNK, BSOFT, HINDCOPPER, RBLBANK.

Disclaimer: The article is for informational purposes only and not investment advice