Indices hovering steady: Broader market sentiment remains optimistic!
Sensex down by 0.01 per cent and the Nifty down by 0.04 per cent.
Market Update at 11:50 AM: During the ongoing trading session, benchmark indices are showing a flat trend, with the Sensex down by 0.01 per cent and the Nifty down by 0.04 per cent. However, in the broader market, the Nifty Midcap has rose by 0.10 per cent, while the Nifty Smallcap rose by 0.76 per cent.
India VIX declined by 4.46 per cent and is trading around the mark of 12.22, indicating a fall in market volatility.
In the sectoral landscape, Nifty IT, Nifty Auto and Nifty MID SELECT emerged as Top Gainers, while Nifty Realty, Nifty Pharma, and Nifty FMCG are the sectors which are underperforming.
Top gainers in individual stocks are TECHM, M&M, and WIPRO while, HINDUNILVR, ASIANPAINT, and BAJAJ-AUTO are among the Top Losers in the Nifty 50.
The broader market sentiment is positive, with 1,410 stocks advancing compared to 868 stocks declining.
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Market Update at 9:25 AM: On Tuesday, Indian markets opened on a positive note, with both Nifty and Sensex showing positive movement. Nifty IT led the gains, while Nifty Metal was the biggest laggard.
As of now, the Sensex is up by 0.34 per cent, hovering around 85,575, and Nifty is slightly up by 0.25 per cent, trading near 25,870. However, in the broader market performed, the Nifty Midcap rose by 0.09 per cent to approximately 60,210, and the Nifty Smallcap rose by 0.52 per cent, trading near 19,280.
India VIX declined by 2.58 per cent and is trading at 12.46, indicating a fall in market volatility.
Within the sectoral landscape Nifty IT, Nifty PSU Bank, and Nifty Auto are among the top gainers while Nifty Metal and Nifty FMCG are the sectors which are underperforming.
TECHM, M&M, and LT are among the top gainers within the Nifty 50 while JSWSTEEL, ASIANPAINT, and HINDALCO are among the top losers.
About 1,502 stocks are advancing as against to 636 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 7:40 AM: The S&P 500 reached a record high on Monday, bouncing back after a brief dip following remarks from Federal Reserve Chair Jerome Powell. He mentioned that the Fed isn't rushing to make further rate cuts but expects two more this year, totaling 50 basis points, if the economy stays on track.
The Dow Jones closed at an all-time high, with all three major U.S. stock indexes posting gains for the month and quarter. The Dow rose 17.15 points (0.04 per cent) to 42,330.15, the S&P 500 added 24.31 points (0.42 per cent) to 5,762.48, and the Nasdaq gained 69.58 points (0.38 per cent) to 18,189.17.
The GIFT Nifty is trading flat, signaling a muted opening for the day. Nifty futures are currently trading at 26,115.00.
Treasuries continued to fall, driving short-term yields up after Fed Chair Jerome Powell's cautious comments that interest rates will drop "over time," while noting the economy is still strong. The US 10-year Treasury yield dropped 25 bps to 3.77 per cent, while the 2-year bond yield fell 23 bps to 3.63 per cent in early Friday trading.
Oil prices stayed mostly flat on Monday but ended the third quarter with a 17 per cent drop. Concerns over a potential supply cut from the Middle East were outweighed by declining global demand. Brent crude for November fell 21 cents to $71.77, while the December contract rose 27 cents to $71.81.
On September 30, 2024, foreign institutional investors (FII) sold shares worth Rs 9,791 crore, while domestic institutional investors (DII) bought shares worth Rs 6,645 crore.
Stocks that are banned for trading in the F&O segment on October 01, 2024, are BALRAMCHIN, BANDHANBNK, HINDCOPPER, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.