Market Wrap: Indices End Lower Amid Profit-Booking; Nifty Media Outperforms

The Sensex slipped 0.76 per cent to end at 79,375.35, while the Nifty 50 declined by 0.76 per cent, settling at 24,004.75.

Market Update at 3:45 PM: On Friday, benchmark indices closed the session on a muted note as investors booked profits after recent gains. The Sensex slipped 0.90 per cent to end at 79,223.11, while the Nifty 50 declined by 0.76 per cent, settling at 24,004.75.

In the broader markets, the Nifty Midcap 150 edged lower by 0.25 per cent to close at 21,419.30, while the Nifty Smallcap 250 fell marginally by 0.19 per cent, finishing at 17,973.05. Volatility in the market eased further, as reflected by the India VIX, which dropped 1.43 per cent to 13.54, indicating a continued reduction in market uncertainty.

Among the sectoral indices, Nifty Media, Nifty Oil & Gas and Nifty Consumer Durables emerged as top performers. On the flip side, Nifty IT, Nifty Pharma and Nifty Bank were the top laggards.

In terms of stock performance on the Nifty 50, ONGC led the gainers with a robust rise of 5.11 per cent, closing at Rs 258.65. Tata Motors and SBI Life followed, gaining 3.13 per cent and 1.95 per cent, respectively. On the losing side, Wipro fell the most, dropping 2.83 per cent to Rs 295.20. HDFC Bank and Adani Ports also declined, shedding 2.53 per cent and 2.30 per cent, respectively.

The market breadth remained relatively balanced, with 1,470 stocks advancing against 1,349 stocks declining, reflecting mixed investor sentiment.

Market Update at 9:45 AM: On the third trading day of the new year, the markets exhibited a subdued trend. As of now, the Sensex declined by 0.67 per cent, trading at 79,411.52, while the Nifty 50 slipped 0.52 per cent, standing at 24,062.85.

In the broader indices, the Nifty Midcap 150 rose marginally by 0.19 per cent to 21,513.90, and the Nifty Smallcap 250 gained 0.43 per cent to 18,084.55. 

However, market volatility increased slightly as the India VIX climbed 1.21 per cent to 13.91, indicating heightened uncertainty.

Among the sectoral indices, the top outperformers were Nifty Media, Nifty PSU Bank, and Nifty Oil & Gas. On the contrary, the laggards included Nifty IT, Nifty Pharma, and Nifty Healthcare Index.

Within the Nifty 50, Top Gainers included ONGC, Trent, and Titan. On the flip side, Hero MotoCorp, Tech Mahindra, and Wipro were among the Top Losers.

The market breadth leaned positive, with 1,583 stocks advancing against 835 declining, despite the dip in benchmark indices.

Pre-Market Update at 8:15 AM: Wall Street ended lower on Thursday, with the Dow Jones Industrial Average declining 151.95 points or 0.36 per cent to close at 42,392.27. The S&P 500 dropped 13.08 points or 0.22 per cent to 5,868.55, while the Nasdaq Composite slipped 30.00 points or 0.16 per cent to 19,280.79.

Indian markets are expected to start the day on a weaker note on January 3, with GIFT Nifty indicating a decline. As of 7:00 AM IST, Nifty futures were trading at 24,191.50, down slightly.

On Tuesday, the Indian equity markets extended their winning streak into the second day of 2025, supported by broad-based buying across sectors. Auto stocks led the gains following upbeat December sales figures. The Sensex surged 1,436.30 points or 1.83 per cent to close at 79,943.71, while the Nifty advanced 445.75 points or 1.88 per cent to settle at 24,188.65.

US bond yields edged lower on Friday. The 10-year Treasury yield was down 22 basis points at 4.55 per cent, while the 2-year yield declined by 5 basis points to 4.23 per cent.

The US dollar index rose to 109.17, maintaining its strength amid expectations of reduced Federal Reserve rate cuts and optimism about the US economy’s relative performance.

WTI crude futures rose to around USD 73.2 per barrel, nearing a 2.5-month high, driven by optimism over China’s growth outlook and declining US crude inventories. However, concerns over potential oversupply and OPEC+ production linger.

Foreign institutional investors (FIIs) turned net buyers on January 2, purchasing equities worth Rs 1,506 crore after 12 consecutive sessions of selling. Domestic institutional investors (DIIs) also net bought equities worth Rs 22 crore on the same day.

Manappuram Finance and RBL Bank remain under the F&O trading ban today.

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