Market Wrap: Benchmark indices close on a negative note with Nifty FMCG declining over 2.5 per cent!
Sensex closed lower by 0.02 per cent and closed at 80,065.16, while Nifty closed lower by 0.15 per cent and closed at 24,399.40 level.
Market Update at 3:35 PM: On Thursday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 0.02 per cent and closed at 80,065.16, while Nifty closed lower by 0.15 per cent and closed at 24,399.40 level. However, the Broader market, Nifty Midcap closed lower by 0.33 per cent at 56,349.75, while Nifty Smallcap closed lower by 0.20 per cent and closed at 18,249.15.
Market volatility, as indicated by India VIX, declined by 4.45 per cent and is trading at the level of 13.97 reflecting a fall in market volatility.
Within the sectoral landscape, Nifty Bank, Nifty Pharma and Nifty PSU Bank sector emerged as Top Gainers, while Nifty FMCG, Nifty Auto and Nifty Realty are the sectors which underperformed.
ULTRACEMCO, SHRIRAMFIN, and TITAN were among the top gainers while on the other hand HINDUNILVR, SBILIFE, and HINDALCO were among the Top Losers.
About 794 stocks were advancing as against to 1,575 that were declining, thus indicating a positive sentiment in the broader market.
DSIJ offers a service 'Flash News Investment' with recommendations for Profit-making Ideas for You (Weekly) based on research and analysis to help subscribers make healthy profits. If this interests you, then do download the service details pdf here
Market Update at 12:10 PM: During the ongoing trading session, benchmark indices are showing a negative trend, with the Sensex down by 0.04 per cent and the Nifty down by 0.15 per cent. However, in the broader market, the Nifty Midcap declined by 0.29 per cent, while the Nifty Smallcap rose by 0.05 per cent.
India VIX declined by 3.35 per cent and is trading around the mark of 14.13, indicating a fall in market volatility.
In the sectoral landscape Nifty PSU Bank, Nifty Bank and Nifty Fin Service emerged as top gainers, while Nifty FMCG, Nifty Realty, and Nifty Metal are underperforming.
Top gainers in individual stocks are ULTRACEMCO, HDFCBANK, and GRASIM while, HINDUNILVR, HINDALCO, and SBILIFE are among the top losers in the Nifty 50.
The broader market sentiment is negative, with 920 stocks advancing compared to 1,441 stocks declining.
Market Update at 9:45 AM: On Thursday, Indian markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Pharma led the gains and Nifty FMCG was the biggest laggard.
As of now, the Sensex is down by 0.26 per cent, hovering around 79,870, and Nifty is down by 0.31 per cent, trading near 24,350. Similarly, in the broader market, the Nifty Midcap declined about 0.29 per cent to about 56,370, and the Nifty Smallcap is down by 0.09 per cent, trading near 18,270.
India VIX up by 0.34 per cent and is trading at 14.67, indicating a rise in market volatility.
Within the sectoral landscape Nifty Pharma, Nifty Realty and Nifty Media are among the top gainers while Nifty FMCG, Nifty Metal and Nifty Auto are underperforming.
GRASIM, CIPLA, and ULTRACEMCO are among the top gainers within the Nifty 50 while HINDALCO, HINDUNILVR, and SBILIFE are among the top losers.
About 668 stocks are advancing as against to 1,623 stocks that are declining, thus indicating a negative sentiment in the broader market.
Pre-Market Update at 8:25 AM: Wall Street closed lower on Wednesday as rising Treasury yields weighed on megacap stocks, and investor hopes for strong Fed rate cuts waned.
The Dow dropped 409.94 points (0.96 per cent), the S&P 500 fell 53.78 points (0.92 per cent), and the Nasdaq lost 296.47 points (1.60 per cent).
The GIFT Nifty is trading slightly positive, indicating a flat to positive start for the day. Nifty futures were trading at 24,616.10.
The U.S. 10-year Treasury yield stands at 4.22 per cent, while the 2-year bond yield at 4.06 per cent.
Oil prices edged up on Thursday, recovering from over 1 per cent losses in the previous session after a larger-than-expected rise in U.S. crude inventories. Brent crude gained 44 cents (0.59 per cent) to $75.40, while WTI crude rose 45 cents (0.64 per cent) to $71.22, as ongoing Israel-Hezbollah tensions fueled supply concerns.
On October 23 2024, foreign institutional investors (FII) sold shares worth Rs 5,684 crore, while domestic institutional investors (DII) bought shares worth Rs 6,039 crore.
Stocks that are banned for trading in the F&O segment on October 24, 2024, are AARTIIND, BANDHANBNK, BSOFT, GNFC, IEX, INDIAMART, MANAPPURAM, NMDC, PEL, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.