Market Wrap: Benchmark indices close on a negative note with Nifty IT and Nifty FMCG among top losers!
Sensex closed lower by 0.69 per cent and closed at 79,389.06, while Nifty closed lower by 0.56 per cent and closed at 24,205.35 level.
Market Update at 3:40 PM: On Thursday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 0.69 per cent and closed at 79,389.06, while Nifty closed lower by 0.56 per cent and closed at 24,205.35 level. Similarly, the Broader market, Nifty Midcap closed lower by 0.40 per cent at 56,112.85, while Nifty Smallcap closed higher by 1.15 per cent and closed at 18,602.60.
Market volatility, as indicated by India VIX, rose by 0.26 per cent and is trading at the level of 15.55 reflecting a slight rise in market volatility.
Within the sectoral landscape, Nifty Media, Nifty Pharma, and Nifty Energy sector emerged as Top Gainers, while Nifty IT, Nifty FMCG, and Nifty MID SELECT underperformed.
CIPLA, LT, and DRREDDY were among the top gainers while on the other hand TECHM, HCLTECH, and TCS were among the Top Losers.
About 1,409 stocks were advancing as against to 938 that were declining, thus indicating a positive sentiment in the broader market.
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Market Update at 12:40 PM: During the ongoing trading session, benchmark indices are showing a negative trend, with the Sensex down by 0.63 per cent and the Nifty down by 0.52 per cent. However, in the broader market, the Nifty Midcap down by 0.85 per cent, while the Nifty Smallcap rose by 0.32 per cent.
India VIX rose by 4.51 per cent and is trading around the mark of 16.21, indicating a rise in market volatility.
European markets were heading for a lower open Thursday as investors look ahead to the latest Euro zone inflation data; European futures: DAX (-0.46 per cent); CAC (-0.41 per cent); FTSE (-0.27 per cent).
In the sectoral landscape Nifty Pharma, Nifty Media and Nifty Energy emerged as top gainers, while Nifty IT, Nifty MID SELECT, and Nifty FMCG sectors are underperforming.
Top gainers in individual stocks are CIPLA, LT, and HEROMOTOCO while, TECHM, HCLTECH, and SHRIRAMFIN are among the top losers in the Nifty 50.
The broader market sentiment is positive, with 1,331 stocks advancing compared to 1,032 stocks declining.
Market Update at 9:20 AM: On Thursday, markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Pharma led the gains and Nifty IT was the biggest laggard.
As of now, the Sensex is down by 0.21 per cent, hovering around 79,770, and Nifty is down by 0.16 per cent, trading near 24,300. However, in the broader market, the Nifty Midcap declined about 0.26 per cent to about 56,190, and the Nifty Smallcap is up by 0.12 per cent, trading near 18,400.
India VIX up by 3.09 per cent and is trading at 15.99, indicating a rise in market volatility.
Within the sectoral landscape Nifty Pharma, Nifty Media and Nifty Realty are among the top gainers while Nifty IT, Nifty FMCG and Nifty MID SELECT are underperforming.
CIPLA, LT, and DRREDDY are among the top gainers within the Nifty 50 while TECHM, INFY, and TCS are among the top losers.
About 1,300 stocks are advancing as against to 910 stocks that are declining, thus indicating a positive sentiment in the broader market.
Pre-Market Update at 8:45 AM: US stock indexes dropped Wednesday as chip stocks slid and investors awaited corporate earnings.
The Dow fell 91.51 points (0.22 per cent) to 42,141.54, the S&P 500 dropped 19.25 points (0.33 per cent) to 5,813.67, and the Nasdaq slid 104.82 points (0.56 per cent) to 18,607.93.
The GIFT Nifty is trading lower, indicating a weak start for the day. Nifty futures were trading at 24,509.00.
The U.S. 10-year Treasury yield stands at 4.284 per cent, while the 2-year bond yield at 4.176 per cent.
Oil prices rose Thursday, extending the previous rally amid optimism over U.S. fuel demand following a surprise drop in crude and gasoline inventories. Reports suggesting OPEC+ may delay a planned output increase also supported prices.
Brent crude gained 35 cents (0.5 per cent) to $72.90 a barrel, while U.S. West Texas Intermediate added 32 cents (0.5 per cent) to $68.93 per barrel.
On October 30 2024, foreign institutional investors (FII) sold shares worth Rs 4,613 crore, while domestic institutional investors (DII) bought shares worth Rs 4,518 crore.
Stocks that are banned for trading in the F&O segment on October 31, 2024, are IDFCFIRSTB, INDIAMART, PNB, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.