Flat market with Nifty IT down Over 3 per cent; Financials lead
Sensex up by 0.21 per cent and the Nifty rising by 0.17 per cent.
Market Update at 11:25 AM: During the ongoing trading session, benchmark indices are showing a flat trend, with the Sensex up by 0.21 per cent and the Nifty rising by 0.17 per cent. In the broader market, the Nifty Midcap has dipped by 0.36 per cent, while the Nifty Smallcap remains flat.
India VIX is has increased by 2.54 per cent and is trading around the mark of 12.91, indicating a rise in market volatility.
In the sectoral landscape, Nifty Fin Service, Nifty Bank, and Nifty Media emerged as Top Gainers, while Nifty IT, Nifty MID SELECT, and Nifty Pharma are the sectors which are underperforming.
Top gainers in individual stocks are SHRIRAMFIN, BAJFINANCE, and HEROMOTOCO while, TECHM, TCS, and WIPRO are among the Top Losers in the Nifty 50.
The broader market sentiment is negative, with 980 stocks advancing compared to 1,386 stocks declining.
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Market Update at 9:30 AM: On Thursday, Indian markets opened on a subdued note, with both Nifty and Sensex seeing marginal declines. Nifty Fin Service emerged as the top gainer, while the Nifty IT sector lagged as the biggest loser.
The Sensex dipped by 0.06 per cent, hovering around 83,000, and the Nifty also slipped by 0.06 per cent, approaching 25,400. The broader market remained flat, with the Nifty Midcap falling slightly by 0.16 per cent to about 60,080, while the Nifty Smallcap edged up 0.14 per cent, trading close to 19,500.
India VIX has rose by 0.16 per cent and is trading at 12.61, indicating a slight rise in market volatility.
Within the sectoral landscape Nifty Fin Service, Nifty Media, and Nifty Bank are among the top gainers while there is Nifty IT and Nifty MID SELECT are the sectors which are underperforming.
HEROMOTOCO, SHRIRAMFIN, and BAJFINANCE are among the top gainers within the Nifty 50 while TECHM, INFY, and TCS are among the top losers.
About 1,194 stocks are advancing as against to 1055 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 8:20 AM: U.S. stocks ended the day nearly flat on Tuesday, surrendering earlier gains that had briefly pushed the S&P 500 and Dow Jones Industrial Average to all-time highs. Investors were cautious ahead of the Federal Reserve's first interest rate cut in four and a half years.
The Dow Jones Industrial Average dipped 15.90 points, or 0.04 per cent, to close at 41,606.18. Meanwhile, the S&P 500 edged up 1.49 points, or 0.03 per cent, to 5,634.58, and the Nasdaq Composite rose 35.93 points, or 0.20 per cent, to finish at 17,628.06.
In early trading on Tuesday, the U.S. 10-year Treasury yield dropped by 10 basis points to 3.64 per cent, while the 2-year bond yield fell 12 basis points to 3.60 per cent.
The GIFT Nifty is signaling a flat opening for the market, with Nifty futures trading at 25,448.
On Tuesday, U.S. crude oil prices climbed past $71 per barrel, fueled by growing optimism that the Federal Reserve is likely to lower interest rates this week, while ongoing production disruptions in the Gulf of Mexico also contributed to the rise.
On September 17, 2024, foreign institutional investors (FII) bought shares worth Rs 482 crore, while domestic institutional investors (DII) bought shares worth Rs 874 crore.
Stocks that are banned for trading in the F&O segment on September 18, 2024, are AARTIIND, BALRAMCHIN, BIOCON, BSOFT, GNFC, GRANULES, HINDCOPPER, LICHSGFIN, PNB, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.