Market Wrap: Benchmark indices close on a negative note with Nifty Realty and Nifty Pharma among the top gainers!

Sensex closed lower by 0.21 per cent and closed at 81,467.10, while Nifty closed lower by 0.12 per cent and closed at 24,981.95 level

Market Update at 3:45 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 0.21 per cent and closed at 81,467.10, while Nifty closed lower by 0.12 per cent and closed at 24,981.95 level. However, the Broader market, Nifty Midcap closed higher by 0.97 per cent at 59,102.65, while Nifty Smallcap closed higher by 1.33 per cent and closed at 18,864.60.

Market volatility, as indicated by India VIX, fell by 3.22 per cent and is trading at the level of 14.12 reflecting a fall in market volatility.

Within the sectoral landscape, Nifty Realty, Nifty Pharma, and Nifty Media emerged as Top Gainers, while Nifty FMCG and Nifty Energy are the sectors which underperformed.

CIPLA, TRENT, and TATAMOTORS were among the top gainers while on the other hand ITC, NESTLEIND, and HINDUNILVR were among the Top Losers.

About 1617 stocks were advancing as against to 760 that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:25 PM: In the current trading session benchmark indices are trading positive, with Sensex trading higher by 0.33 per cent while Nifty trading higher by 0.43 per cent. However, in the broader indices Nifty Midcap rose by 1.20 per cent, while Nifty Smallcap rose by 1.47 per cent.

India VIX declined by 5.35 per cent and is trading around the mark of 13.81 indicating a fall in market volatility.

Coming to European market, FTSE 100 was down 1.36 per cent; DAX was down by 0.20 per cent and CAC 40 was down by 0.72 per cent.

Within the sectoral landscape Nifty Pharma, Nifty Realty, and Nifty Auto are among the top gainers while only Nifty FMCG is underperforming.

SHRIRAMFIN, TATAMOTORS, and TRENT are among the top gainers within the Nifty 50 while, NESTLEIND, ONGC, and BRITANNIA are among the top losers.

About 1,927 stocks are advancing as against to 454 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 9:30 AM: On Wednesday, Indian markets opened on a positive note, with both Nifty and Sensex showing positive movement. Nifty Realty led the gains, while Nifty FMCG was the biggest laggard.

As of now, the Sensex is up by 0.14 per cent, hovering around 81,750, and Nifty is up by 0.18 per cent, trading near 25,050. However, in the broader market performed, the Nifty Midcap is up by 0.86 per cent to approximately 59,040, and the Nifty Smallcap is up by 0.91 per cent, trading near 18,780.

India VIX declined by 0.89 per cent and is trading at 14.46, indicating a slight fall in market volatility.

Within the sectoral landscape Nifty Realty, Nifty Pharma, and Nifty PSU Bank are among the top gainers while Nifty FMCG, Nifty Energy and Nifty Metal are the sectors which are underperforming.

SHRIRAMFIN, TATAMOTORS, and BAJFINANCE are among the top gainers within the Nifty 50 while ONGC, ITC, and BRITANNIA are among the top losers.

About 1,874 stocks are advancing as against to 390 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:30 AM: Global stocks advanced on Tuesday, driven by a Wall Street rally that outweighed concerns over China's lack of stimulus details. Investors are now focusing on upcoming U.S. inflation data and corporate earnings.

On Wall Street, U.S. stocks surged, with the S&P 500 rebounding by nearly 1 per cent after a previous dip. Tech stocks led the charge, jumping over 2 per cent.

The Dow rose 126.13 points (0.30 per cent) to 42,080.37, the S&P 500 gained 55.19 points (0.97 per cent) to 5,751.13, and the Nasdaq climbed 259.01 points (1.45 per cent) to 18,182.92.

The GIFT Nifty is trading higher, indicating a positive start for the day. Nifty futures were trading at 25,280.00.

The US 10-year Treasury yield rose by 10 bps to 4.01 per cent, while the 2-year bond yield remained steady at 3.95 per cent.

Oil prices recovered slightly on Wednesday after falling over 4% the previous day due to reports of a possible ceasefire between Hezbollah and Israel. However, concerns over a potential attack on Iran's oil infrastructure provided some support. Brent oil futures (Dec’24) rose by 24 cents (0.31 per cent) to $77.42 a barrel, while U.S. West Texas Intermediate rose by 13 cents (0.18 per cent) to $73.70 a barrel.

On October 08, 2024, foreign institutional investors (FII) sold shares worth Rs 5,729 crore, while domestic institutional investors (DII) bought shares worth Rs 7,000 crore.

Stocks that are banned for trading in the F&O segment on October 09, 2024, are BANDHANBNK, BSOFT, GNFC, GRANULES, HINDCOPPER, IDFCFIRSTB, MANAPPURAM, PNB, RBLBANK, SAIL.

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