Market Wrap: Benchmark indices decline while Nifty Smallcap surged over 1.5 per cent!

On Monday, Benchmark indices concluded trading day on a positive note as Sensex moderately declined by 0.27 per cent and closed at 76,490.08 level, while Nifty plunged by 0.13 per cent and closed at 23,259.20 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded trading day on a positive note as Sensex moderately declined by 0.27 per cent and closed at 76,490.08 level, while Nifty plunged by 0.13 per cent and closed at 23,259.20 level. Whereas the Broader market also experienced gains as Nifty Midcap closed slightly higher by 0.08 per cent, while Nifty Smallcap soared by 1.51 per cent.

Market volatility, as indicated by India VIX, has slightly declined by 2.71 per cent and is trading around the level of 16 reflecting a decrease in market volatility.

Within the sectoral landscape, Nifty Media, Nifty Realty and Nifty Pharma were among the top gainers, while Nifty IT, Nifty Metal and Nifty Financial Services are among the top losers.

Ultratech Cement, Grasim and Hero Motocorp were among the top gainers while on the other hand Tech Mahindra, Infosys and Wipro were among the top losers.

About 1455 stocks were advancing as against to 697 stocks that were declining, thus indicating a positive sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade on a higher note with the Sensex trading moderately higher by 0.22 per cent, while Nifty surged by 0.33 per cent. Similarly, in the broader indices Nifty Midcap has gained by 0.2 per cent, while Nifty Smallcap has soared by 1.7 per cent.

India VIX is currently trading lower by 3.95 per cent and is trading around the level of 16 indicating decreased market volatility.

Within the sectoral landscape, all the major sectors are trading positively with Nifty PSU Bank, Nifty Media, Nifty Realty and Nifty Energy among the top gainers while Nifty IT and Nifty Auto are among the major losers.

Grasim, Ultratech Cement and Hero Motocorp are among the top gainers while Tech Mahindra, Infosys and Wipro are among the top losing stocks from the Nifty 50.

About 1591 stocks are advancing as against 557 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:40 PM: In the current trading session benchmark indices trade on a positive note as Sensex has slightly gained by 0.06 per cent, while Nifty has surged by 0.2 per cent. Similarly, in the broader indices Nifty Midcap has soared by 0.18 per cent, while Nifty Smallcap has gained by 1.37 per cent.

India VIX is trading lower by 2.22 per cent around the mark of 16.5 indicating decreased market volatility.

European markets are expected to open lower on Monday, after as traders react to the initial results from the EU Parliament Elections. European futures DAX, CAC and FTSE trade lower by 0.55 per cent, 1.42 per cent and 0.35 per cent respectively.

Within the sectoral landscape Nifty Realty, Nifty PSU Bank, Nifty Energy and Nifty Media were among the top gainers while Nifty IT and Nifty Auto were among the top losers.

Ultratech Cement, Grasim and Hero Motocorp are among the top gainers within the Nifty 50 while, Tech Mahindra, Infosys and Wipro are among the top losers.

About 1603 stocks are advancing as against to 539 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:15 AM: In the ongoing trading session, Benchmark indices are trading on a higher note with Sensex trading marginally higher by 0.05 per cent, while Nifty gained by 0.15 per cent. Similarly, in the broader indices Nifty Midcap experience slight gains of 0.04 per cent, while Nifty Smallcap has soared by 1.13 per cent.

India VIX is has declined by 1.57 per cent and is trading around the mark of 16, indicating decreased market volatility.

Within the sectoral landscape, Nifty Media, Nifty Energy, Nifty Realty and Nifty PSU Bank among the top gainers while Nifty IT and Nifty Metal are among the top losers.

Top gainers in individual stocks are Ultratech Cement, Power Grid and Hero Motocorp whereas Tech Mahindra, Infosys and HCL Technologies are among the top losers in the Nifty 50.

The broader market sentiment is positive, with 1599 stocks advancing compared to 546 stocks declining.

Market Update at 9:45 AM: On Monday, Indian markets started the first trading day of the week on a positive note with the Sensex and Nifty making new all-time highs, while the broader indices which include the Nifty Midcap 100 and Nifty Smallcap 100 outperformed the Benchmark indices making new record highs. Furthermore, Nifty PSU Bank was among the top gainers while Nifty IT was the biggest loser.

Sensex is trading marginally higher by 0.03 per cent after making a record high of 77,079.04 level, while Nifty is trading higher by 0.17 per cent after making a new all-time high of 23,411.90 level.  Similarly, in the broader indices Nifty Midcap opened higher with a gain of 0.54 per cent making a new all-time high of 53,705.80 level, while Nifty Smallcap has soared by 0.96 per cent and made a new all-time high of 17,338.55 level.

India VIX has slightly gained by 0.55 per cent and is trading around the mark of 16, indicating slight increase in market volatility.

Within the sectoral landscape Nifty PSU Bank, Nifty Energy and Nifty Realty were among the top gainers while Nifty IT, Nifty Metal and Nifty FMCG were among the major losers.

Power Grid Corporation, Cipla and Axis Bank are among the top gainers within the Nifty 50 while, Tech Mahindra, Wipro and Infosys are among the top losers.

About 1452 stocks are advancing as against to 606 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:55 AM: Wall Street stocks closed slightly lower on Friday after stronger-than-expected U.S. jobs data suggested a robust economy, raising concerns that the Federal Reserve might delay interest rate cuts.

The Dow fell 87.18 points (0.22 per cent) to 38,798.99, the S&P 500 dropped 5.97 points (0.11 per cent) to 5,346.99, and the Nasdaq lost 39.99 points (0.23 per cent) to 17,133.13.

The 10-year Treasury yield rose 18 basis points to 4.44 per cent, while the 2-year yield decreased by 9 basis points to 4.88 per cent.

The GIFT Nifty indicates a positive start for the Indian Benchmark indices, with a gain of 0.26 per cent or 61 points. Nifty futures are currently trading near the 23,338 mark.

Oil prices dipped for the second consecutive session on Monday, pressured by a stronger dollar as the likelihood of near-term interest rate cuts diminished following robust U.S. job data from Friday.

Brent crude futures and U.S. West Texas Intermediate crude futures both declined by 4 cents, trading at USD 79.58 and USD 75.49 per barrel, respectively.

On Friday, data revealed that the U.S. added more jobs than anticipated last month, prompting investors to lower their expectations for imminent rate cuts and driving the dollar higher.

On June 07, 2024, foreign institutional investors (FII) bought shares worth Rs 4,391.02 crore, while domestic institutional investors (DII) offloaded shares worth Rs 1,289.75 crore.

Stocks that are banned for trading in the F&O segment on June 10, 2024, are BALRAMCHIN, SAIL and ZEEL.