Market Wrap: Benchmark indices close on a negative note with Nifty PSU Bank among the top losers!

Sensex declined by 0.25 per cent and closed at 82,352.64, while Nifty declined by 0.32 per cent and closed at 25,198.70 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex declined by 0.25 per cent and closed at 82,352.64, while Nifty declined by 0.32 per cent and closed at 25,198.70 level. Similarly, the Broader market, Nifty Midcap closed lower by 0.13 per cent at 59,223.70, while Nifty Smallcap declined by 0.02 per cent and closed at 19,322.25.

Market volatility, as indicated by India VIX, has increased by 3.90 per cent and is trading at the level of 14.38 reflecting an increase in market volatility.

Within the sectoral landscape, Nifty Pharma, Nifty Realty, and Nifty FMCG were among the Top Gainers, while Nifty PSU Bank, Nifty IT, and Nifty Metal are the sectors which underperformed.

ASIANPAINT, GRASIM, HINDUNILVR were among the top gainers while on the other hand WIPRO, COALINDIA, and ONGC were among the Top Losers.

About 1,017 stocks were advancing as against to 1,343 that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices have declined with Sensex trading lower by 0.51 per cent while Nifty trading lower by 0.60 per cent. Similarly, in the broader indices Nifty Midcap has declined by 0.33 per cent, while Nifty Smallcap has a modest positive gain of 0.02 per cent.

India VIX has increased by 4.19 per cent and is trading around the mark of 14.42 indicating an increase in market volatility.

European stocks are expected to fall sharply at the open – Wednesday. In Asia-Pacific Markets Overnight; European Futures; DAX (-1.39 per cent); CAC (-0.68 per cent); FTSE (-0.67 per cent).

Within the sectoral landscape only Nifty Pharma is among the top gainers while Nifty IT, Nifty PSU Bank, and Nifty Metal are the sectors which are underperforming.

ASIANPAINT, HINDUNILVR, and GRASIM are among the top gainers within the Nifty 50 while, WIPRO, ONGC, COALINDIA are among the top losers.

About 955 stocks are advancing as against to 1405 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, Benchmark indices are trading on a negative note with Sensex trading lower by 0.53 per cent, while Nifty trading lower by 0.60 per cent. Similarly in the broader indices Nifty Midcap experience decline of 0.49 per cent, while Nifty Smallcap has increased by 0.13 per cent.

India VIX is has slightly increased by 2.96 per cent and is trading around the mark of 14.25, indicating a slight increase in market volatility.

In the sectoral landscape, Nifty FMCG and Nifty Pharma emerged as the top gainers with modest positive gains, while Nifty IT, Nifty PSU Bank, and Nifty Metal are underperforming.

Top gainers in individual stocks are ASIANPAINT, GRASIM and HINDUNILVR while, WIPRO, COALINDIA, and ONGC are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 955 stocks advancing compared to 1,389 stocks declining.

Market Update at 9:40 AM: On Wednesday, Indian markets opened on a negative note, with Nifty and Sensex experiencing significant losses while, the Broader indices also displayed negative performance except for Nifty Smallcap. Nifty Media emerged as the top gainer, while Nifty PSU Bank experienced the largest losses.

The Sensex is trading down by 0.63 per cent trading at 82,033.34 while the Nifty is also down by 0.67 per cent and is trading at 25,110. Whereas, in the broader, the Nifty Midcap declined by 0.25 per cent trading at 59,148 while the Nifty Smallcap surged by 0.43 per cent trading at 19,409.

India VIX has slightly gained by 3.03 per cent and is trading at 14.26, indicating an increase in market volatility.

Within the sectoral landscape only Nifty Media is among the top gainers while Nifty IT, Nifty PSU Bank, and Nifty Metal are the sectors which are underperforming.

ASIANPAINT, BPCL, and GRASIM are among the top gainers within the Nifty 50 while COALINDIA, ONGC, and LTIM are among the top losers.

About 1,026 stocks are advancing as against to 1,217 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:30 AM: The S&P 500 declined to approximately 5,530, losing over 2 per cent. The Nasdaq 100 and the Russell 2000 each dropped by more than 3 per cent, while the Dow Jones Industrial Average fell by 1.5 per cent.

U.S. 10-year yields decreased by 7 basis points to 3.84 per cent, whereas the 2-year yield increased by 4.69 basis points to 3.865 per cent.

The GIFT Nifty suggests a negative opening for the Indian benchmark indices, with a decline of 0.71 per cent or 180 points. Nifty futures are currently trading around 25,344.

Oil prices continued to decline on Wednesday, building on the previous day's drop of more than 4 per cent, driven by expectations that the political dispute causing the halt in Libyan exports may be resolved and concerns about slowing global demand growth.

Brent crude futures for November decreased by 28 cents, or 0.4 per cent, to $73.47, following a 4.9 per cent drop in the prior session. U.S. West Texas Intermediate crude futures for October fell by 31 cents, or 0.4 per cent, to $70.03 after a 4.4 per cent decline on Tuesday.

On September 03, 2024, foreign institutional investors (FII) bought shares worth Rs 1,029 crore, while domestic institutional investors (DII) bought shares worth Rs 1,896 crore.

Stocks that are banned for trading in the F&O segment on September 04, 2024, are ABFRL, BALRAMCHIN and HINDCOPPER.

Disclaimer: The article is for informational purposes only and not investment advice.