Market Wrap: Benchmark indices close on a positive note with Nifty Fin Service and Nifty PSU Bank in top gainers
Sensex closed higher by 0.45 per cent and closed at 80,369.03, while Nifty closed higher by 0.52 per cent and closed at 24,466.85 level.
Market Update at 3:35 PM: On Tuesday, Benchmark indices concluded the trading day on a positive note as Sensex closed higher by 0.45 per cent and closed at 80,369.03, while Nifty closed higher by 0.52 per cent and closed at 24,466.85 level. Similarly, the Broader market, Nifty Midcap closed higher by 0.92 per cent at 56,251.30, while Nifty Smallcap closed higher by 0.76 per cent and closed at 18,198.95.
Market volatility, as indicated by India VIX, rose by 1.61 per cent and is trading at the level of 14.52 reflecting a slight rise in market volatility.
Within the sectoral landscape, Nifty PSU Bank, Nifty Fin Service, and Nifty Bank sector emerged as Top Gainers, while Nifty Auto, Nifty Pharma, and Nifty IT underperformed.
SBIN, BEL, and HDFCLIFE were among the top gainers while on the other hand MARUTI, TATAMOTORS, and HEROMOTOCO were among the Top Losers.
About 1,447 stocks were advancing as against to 892 that were declining, thus indicating a negative sentiment in the broader market.
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Market Update at 9:30 AM: On Tuesday, markets opened on a flattish note, with both Nifty and Sensex showing flat movement. Nifty PSU Banks led the gains and Nifty Auto was the biggest laggard.
As of now, the Sensex is down by 0.35 per cent, hovering around 79,710, and Nifty is down by 0.36 per cent, trading near 24,250. However, in the broader market, the Nifty Midcap rose about 0.16 per cent to about 55,820, and the Nifty Smallcap is up by 0.27 per cent, trading near 18,110.
India VIX up by 3.22 per cent and is trading at 14.75, indicating a rise in market volatility.
Within the sectoral landscape Nifty PSU Bank, Nifty Bank and Nifty Media are among the top gainers while Nifty Auto, Nifty Metal and Nifty Pharma are underperforming.
NTPC, BEL, and EICHERMOT are among the top gainers within the Nifty 50 while BHARTIARTL, M&M, and TATAMOTORS are among the top losers.
About 1,324 stocks are advancing as against to 934 stocks that are declining, thus indicating a negative sentiment in the broader market.
Pre-Market Update at 8:25 AM: Wall Street closed higher on Monday, driven by optimism ahead of earnings reports from megacap firms and the final stretch to the Nov. 5 election. Energy supply stability in the Middle East also boosted sentiment.
The S&P 500 rose 15.4 points, or 0.27 per cent, to 5,823.52; the Nasdaq gained 48.58 points, or 0.26 per cent, reaching 18,567.19; and the Dow climbed 273.17 points, or 0.65 per cent, to 42,387.57.
The GIFT Nifty is trading steady, indicating a positive start for the day. Nifty futures were trading at 24,502.00.
The U.S. 10-year Treasury yield stands at 4.272 per cent, while the 2-year bond yield at 4.127 per cent.
Oil prices edged up in early Asian trade Tuesday, regaining ground after easing Middle East conflict fears led to sharp losses previously. Brent futures for December rose 0.7 per cent to $71.94 per barrel, while West Texas Intermediate crude gained 0.7 per cent to $67.87 per barrel.
On October 28 2024, foreign institutional investors (FII) sold shares worth Rs 3,228 crore, while domestic institutional investors (DII) bought shares worth Rs 1,400 crore.
Stocks that are banned for trading in the F&O segment on October 29, 2024, are DIXON, ESCORTS, IDFCFIRSTB, INDIAMART, LTF, MANAPPURAM, PNB, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.