Market Wrap: Benchmark indices close on a negative note while Nifty Realty plummets over 3 per cent!

On Tuesday, Benchmark indices concluded trading day on a negative note as Sensex moderately declined by 0.52 per cent and closed at 73,511.85 level, whereas Nifty plunged by 0.62 per cent and closed at 22,302.50 level.

Market Update at 3:55 PM: On Tuesday, Benchmark indices concluded trading day on a negative note as Sensex moderately declined by 0.52 per cent and closed at 73,511.85 level, whereas Nifty plunged by 0.62 per cent and closed at 22,302.50 level. Similarly, the Broader market experienced substantial losses as Nifty Midcap closed lower by 1.95 per cent, while Nifty Smallcap plummeted by 1.89 per cent.

Market volatility, as indicated by India VIX, has surged by 2.45 per cent, reflecting an increase in market volatility.

Nifty FMCG and Nifty IT closed positively while Nifty Realty, Nifty Metal, Nifty PSU Bank and Nifty Energy were among the top losers.

Hindustan Unilever, Tech Mahindra and Britannia were among the top gainers while Bajaj Auto, Power Grid Corporation and ONGC were among the top losing stocks from the Nifty 50.

About 409 stocks were advancing as against to 1714 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:25 PM: In the current trading session benchmark indices trade on a lower note with the Sensex trading moderately lower by 0.47 per cent, while Nifty declined by 0.59 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 1.87 per cent, while Nifty Smallcap has plummeted by 1.67 per cent.

India VIX is currently trading higher by 1.87 per cent, indicating an increase in market volatility.

Nifty FMCG and Nifty IT are the only major sectors which are trading positively while Nifty Realty, Nifty Metal and Nifty Pharma are among the top losers.

Hindustan Unilever, Britannia and Nestle India are among the top gainers while Bajaj Auto, Hindalco and Power Grid are among the top losing stocks from the Nifty 50.

About 407 stocks are advancing as against 1710 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:30 PM In the current trading session benchmark indices trade significantly lower as Sensex has declined by 0.57 per cent, while Nifty has also plunged by 0.62 per cent. Similarly, in the broader markets Nifty Midcap has significantly declined by 1.71 per cent, while Nifty Smallcap has plunged by 1.57 per cent.

India VIX has spiked up by 3.78 per cent, indicating an increase in market volatility.

European markets are heading for a positive start to Tuesday’s trading session as traders look ahead to busy day of earnings reports in the region. European futures DAX, CAC and FTSE trade higher by 0.20 per cent and 0.07 and 0.62 per cent respectively.

Nifty FMCG is the only major sector which is trading positively while Nifty Realty, Nifty Metal and Nifty PSU Bank are among the top losers.

Hindustan Unilever, Britannia and Nestle India are among the top gainers while Bajaj Auto, Power Grid Corporation and Hindalco are among the top losing stocks from the Nifty 50.

About 395 stocks are advancing as against to 1718 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex moderately declining by 0.51 per cent, while Nifty also plunged by 0.53 per cent. Similarly, in the broader indices Nifty Midcap experience substantial declines of 1.06 per cent, while Nifty Smallcap has significantly declined by 0.97 per cent.

India VIX is trading higher by 1.02 per cent, indicating an increase in market volatility.

Nifty FMCG is the only major sector which is trading positively while Nifty Metal, Nifty PSU Bank and Nifty Auto are among the top losers.

Top gainers in individual stocks are Hindustan Unilever, Britannia and Nestle India, whereas JSW Steel, Power Grid Corporation and Bajaj Auto are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 492 stocks advancing compared to 1578 stocks declining.

Market Update at 9:30 AM: On Tuesday, Indian markets initiated the trading day on a positive note with Sensex opening marginally higher by 0.15 per cent, while Nifty also opened higher by 0.22 per cent. Similarly, in the broader indices Nifty Midcap opened lower by 0.19 per cent, while Nifty Smallcap declined by 0.28 per cent.

India VIX has surged by 1.02 per cent, indicating an increase in market volatility.

Nifty FMCG, Nifty PSU Bank and Nifty Financial Services are among the top gainers while Nifty Media, Nifty Auto and Nifty Metal are among the top losers.

Hindustan Unilever, Britannia and ITC are among the top gainers while HCL Technologies, Bajaj Auto and Power Grid Corporation are among the top losing stocks from the Nifty 50.

About 746 stocks are advancing as against to 1186 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:40 AM: US Stocks experienced their most robust three-day rally since November, propelled by speculation of potential interest rate cuts by the Federal Reserve this year. Traders kept an eye on geopolitical tensions, including Israel's rejection of a cease-fire proposal by Hamas.

Investors scrutinized comments from various Fed officials following Jerome Powell's recent statements. Fed Bank of Richmond President Thomas Barkin anticipates that elevated rates could slow the economy and moderate inflation, while his New York counterpart, John Williams, suggests potential rate cuts based on data trends.

The GIFT Nifty trends suggest a neutral opening for the Indian Benchmark Indices, with a slight increase of 10 points or 0.04 per cent. Nifty futures were observed trading near the 22,590 level.

Oil prices saw a slight increase early on Tuesday following an Israeli strike on Rafah in Gaza, while negotiations for a ceasefire with Hamas continued without resolution.

Brent crude futures rose by 46 cents, or 0.55 per cent, to USD 83.79 per barrel, while US West Texas Intermediate (WTI) crude futures increased by 46 cents, or 0.59 per cent, reaching USD 78.94 a barrel.

Prices had risen slightly on Monday, partially reversing last week's declines, which marked the steepest weekly loss in three months. The focus remains on weak US jobs data and the potential timing of a Federal Reserve interest rate cut.

On May 06, 2024, foreign institutional investors (FII) offloaded shares worth Rs 2,168.75 crore, while domestic institutional investors (DII) bought shares worth Rs 781.39 crore.

Stocks that are banned for trading in the F&O segment on May 07, 2024, are ABFRL, BALRAMCHIN, BIOCON, GMRINFRA, IDEA and SAIL.