Market Wrap: Sensex and Nifty Finish Higher with Nifty Media among the top gainers!

On August 8, foreign institutional investors (FII) offloaded shares worth Rs 711.34 crore, while domestic institutional investors (DII) bought shares worth Rs 537.31 crore.

Market Update at 3:45 PM: The day's trading concluded with positive momentum, as both the Sensex and Nifty wrapped up higher by 0.23 per cent and 0.32 per cent respectively. Notably, Nifty Midcap and Nifty Smallcap showcased even more robust gains, closing up by 0.33 per cent and 0.59 per cent respectively.

The India VIX experienced a notable decline of 1.68 per cent, signalling a decrease in market volatility.

Nifty Media, Nifty Metal, and Nifty Auto emerged as top gainers among sectors, exhibiting strong performance. Conversely, Nifty Realty, Nifty Financial Services, and Nifty Bank faced challenges, recording losses.

Dr Reddy’s Laboratories, Hindalco, and JSW Steel secured positions as top gainers within the Nifty 50, showcasing their strength. However, Divi’s Laboratories, Apollo Hospitals, and Maruti encountered losses.

The broader market sentiment appeared slightly negative, with around 937 advancing stocks compared to 1014 declining stocks. This subtle imbalance suggested a cautious sentiment prevailing in the broader market.

Market Update at 2:15 PM: The stock market observed downward movements, with the Sensex and Nifty experiencing declines of 0.3 per cent and 0.22 per cent respectively. On a more positive note, Nifty Midcap inched slightly higher by 0.06 per cent, while Nifty Smallcap displayed notable strength with a 0.42 per cent gain.

The India VIX witnessed a marginal uptick of 0.44 per cent, suggesting a slight increase in market volatility.

Nifty Metal, Nifty Media, and Nifty Auto stood out as the top gainers, demonstrating momentum in their respective segments. Meanwhile, Nifty Realty, Nifty PSU Bank, and Nifty Financial Services faced losses.

Dr. Reddy’s, M&M, and Tech Mahindra marked themselves as top gainers within the Nifty 50, showcasing their positive performance. Conversely, Divi’s Laboratories, ICICI Bank, and Asian Paints faced declines.

The broader market sentiment appeared encouraging, as around 1064 stocks advanced in contrast to 916 stocks that declined. This balanced ratio indicated an overall positive sentiment prevailing in the broader market.

Market Update at 12:25 PM: The trading landscape witnessed a decline as both the Sensex and Nifty displayed dips of 0.5 per cent and 0.42 per cent respectively. In contrast, Nifty Midcap exhibited a slight retreat of 0.16 per cent, while Nifty Smallcap showcased strength with a promising uptick of 0.34 per cent.

Anticipating a positive start, European markets were poised to open in green. European futures DAX and FTSE showed gains of 0.71 per cent and 0.53 per cent respectively, indicating a favorable international outlook.

The India VIX experienced an increase of 2.38 per cent, suggesting a heightened level of market volatility.

Nifty Pharma, Nifty Media, and Nifty Metal emerged as notable gainers, displaying robust momentum. In contrast, Nifty Realty, Nifty PSU Bank, and Nifty Bank faced losses.

Dr. Reddy’s, Coal India and Tech Mahindra emerged as top gainers within the Nifty 50, exemplifying their strength. However, Divi’s Laboratories, Hero Motocorp, and Apollo Hospitals faced declines, reflecting notable losses.

The broader market sentiment exhibited a positive tone, with approximately 1020 advancing stocks compared to 943 declining stocks. This depicts an optimistic overall sentiment in the broader market context.

Market Update at 10:35 AM: The stock market witnessed significant movements as the Sensex and Nifty both recorded substantial declines, retreating by 0.57 per cent and 0.5 per cent respectively. In contrast, Nifty Midcap experienced a moderate dip of 0.29 per cent, while Nifty Smallcap demonstrated resilience with a positive move of 0.32 per cent.

Reflecting heightened market uncertainty, the India VIX surged by 3.09 per cent, suggesting an increased level of market volatility.

Among the sectors, Nifty Pharma and Nifty Metal emerged as notable gainers, showcasing positive momentum. Conversely, Nifty Realty, Nifty Bank, and Nifty Financial Services faced losses, setting a challenging tone for these segments.

Dr Reddy's, M&M, and BPCL marked themselves as top gainers among the Nifty 50 constituents, demonstrating their strength. However, Hero Motocorp, HCL Tech, and Divi’s Laboratories faced declines, showing notable losses.

A balanced sentiment prevailed in the broader market, with around 1028 advancing stocks in comparison to 909 declining stocks. This equilibrium indicated a positive overall market sentiment, setting a promising tone for the trading session.

Market Update at 9:35 AM: The Indian stock market kicked off the day with a mixed performance. The Sensex and Nifty initiated trading on a slightly lower note, experiencing declines of 0.36 per cent and 0.3 per cent respectively. Meanwhile, the Nifty Midcap declined by 0.25 per cent, while the Nifty Smallcap demonstrated resilience, surging with a notable gain of 0.29 per cent.

The India VIX, a gauge of market volatility, exhibited significant movement, surging by 2.21 per cent, reflecting an increased level of market uncertainty.

The early sectoral landscape showcased gains in Nifty Pharma, Nifty Metal, and Nifty Media segments. On the flip side, Nifty Realty, Nifty Bank, and Nifty PSU Bank faced early morning losses.

Coal India, Adani Ports, and Dr. Reddy’s Laboratories emerged as top gainers, displaying positive momentum. However, ICICI Bank, Maruti, and Divi's Laboratories were among the top losers among Nifty 50 constituents.

The broader market sentiment remained upbeat, as approximately 1000 stocks advanced in comparison to 836 stocks that experienced declines. This balanced ratio suggested an overall positive outlook in the broader market sentiment, signaling a promising start to the trading session.

Pre-Market Update at 8:00 AM: On Tuesday, The Dow Jones Industrial Average concluded 0.45 per cent lower, a modest improvement from the session's low point when it had dropped around 465 points. Likewise, the S&P 500 experienced a 0.42 per cent decrease, and the Nasdaq Composite saw a larger decline of 0.79 per cent. The selloff was triggered by Moody's downgrade of regional banks, impacting investor sentiment. While some are worried this signal could indicate more challenges for the markets ahead, others view this pullback as anticipated due to the remarkable equity rally observed throughout the year.

Oil prices declined on Tuesday following the release of data indicating that China's crude imports and exports in July fell significantly more than anticipated. This highlights a slow recovery post-COVID for the world's top oil importer. Brent crude futures saw a decrease of 0.41 per cent, settling at USD 84.93 per barrel. Meanwhile, the Dollar index exhibited a gain of 0.52 per cent in futures trading, reaching 102.57, while the value of one dollar remained close to Rs 82.88.

The GIFT Nifty points toward a neutral to slightly favourable opening for the benchmark indices, showing a rise of 24 points. This follows Nifty's recent closure at 19,570 points, experiencing a decrease of 26 points on August 8. Currently, GIFT Nifty futures are positioned at 19,577 points.

On August 8, foreign institutional investors (FII) offloaded shares worth Rs 711.34 crore, while domestic institutional investors (DII) bought shares worth Rs 537.31 crore.

Stocks that are banned for trading in the F&O segment on August 9, 2023, are Chambal Fertilisers & Chemicals Ltd, Balrampur Chini Mills, Delta Corp, Hindustan Copper, Indiabulls Housing Finance and India Cements.