Market Wrap: Volatile trading session concludes with indices slightly in the red

The BSE Sensex ended the session with a marginal loss of 0.07 per cent, while the Nifty 50 edged down by 0.08 per cent.

Indian benchmark indices experienced a highly volatile trading session today, beginning with losses, recovering to trade higher, and then trimming gains to close nearly flat. The BSE Sensex ended the session with a marginal loss of 0.07 per cent, while the Nifty 50 edged down by 0.08 per cent. Small-cap stocks significantly outperformed their counterparts, posting notable gains.

Within the Nifty 50, Oil & Natural Gas Corporation, Hero Motocorp and Axis Bank were among the leading gainers, whereas Adani Ports and Special Economic Zone, NTPC and Dr Reddy’s Laboratories were among the market draggers.

Considering sectoral developments, Nifty Realty, Nifty Consumer Durables and Nifty Oil & Gas were among the top gainers, while Nifty Media and Nifty PSU Bank were notable laggards.

With 1,351 shares rising on the NSE and 1,414 shares declining, the advance-decline ratio remained in favour of declines.

Market Update at 2:30 PM: While the benchmarks maintained upbeat investor sentiment, the broader indices further extended their gains. At 2:30 pm, the BSE Sensex surged 0.24 per cent reaching a level of 79,900. The Nifty 50 index added 0.15 per cent to the 24,404 level. The BSE Mid-cap Index gained by 0.20 per cent, while the BSE Small-cap Index witnessed a robust uptrend, climbing around 0.65 per cent.

Within the Nifty 50, JSW Steel, Axis Bank, Hero Motocorp and Shriram Finance were among the leading gainers, whereas Dr Reddy’s Laboratories, NTPC and Adani Ports and Special Economic Zone were among the market draggers.

Considering sectoral developments, Nifty Realty, Nifty Consumer Durables and Nifty Metal were among the top gainers, while Nifty Media and Nifty PSU Bank were notable laggards.

With 1,428 shares rising on the NSE and 1,290 shares declining, the advance-decline ratio remained in favour of advances.

Market Update at 12:30 PM: Despite mixed global cues, domestic indices remained resilient and showed minimal reaction to the Adani-Hindenburg conflict. At 12:30 pm, the BSE Sensex surged 0.17 per cent reaching a level of 79,838. The Nifty 50 index added 0.14 per cent to the 24,401 level. 

Broader indices exhibited mixed investor sentiment, with the BSE Mid-cap Index declining by around 0.25 per cent, while the BSE Small-cap Index attracted small-cap bulls, gaining over 0.40 per cent.

Within the Nifty 50, JSW Steel, Hero Motocorp and Infosys were among the leading gainers, whereas NTPC, Adani Ports and Special Economic Zone and Adani Enterprises were among the market draggers. Shares of Ola Electric Ltd, driven by strong buying interest for the second consecutive session, hit the 20 per cent upper circuit limit.

With 1,313 shares rising on the NSE and 1,351 shares declining, the advance-decline ratio slightly remained in favour of declines.

Market Update at 11:00 AM: Indian headline indices, after a brief dip of half a per cent, quickly rebounded due to robust gains in the metals and banking sectors. At 11:00 am, the BSE Sensex edged down by 0.04 per cent reaching a level of 79,670. The Nifty 50 index gained 0.14 per cent to the 24,402 level. 

Meanwhile, broader indices displayed mixed investor sentiment. Considering sectoral developments, Nifty Realty, Nifty Metal and Nifty Bank were among the top gainers, while Nifty Media and Nifty FMCG were notable laggards.

Within the Nifty 50, JSW Steel, HDFC Bank and Axis Bank were among the leading gainers, whereas Apollo Hospitals, Tata Consumer Products and NTPC were among the market draggers. Saregama India Ltd, Phoenix Mills Ltd, and InterGlobe Aviation Ltd experienced a significant spurt in trading volumes.

With 1,223 shares rising on the NSE and 1,289 shares declining, the advance-decline ratio slightly remained in favour of declines.

Market Update at 9:30 AM: Benchmark indices, as expected, started today’s trading session lower, with Adani Group stocks experiencing heavy selling pressure.

At 9:30 am, the BSE Sensex declined 0.33 per cent reaching a level of 79,443. The Nifty 50 index fell 0.28 per cent to the 24,298 level. 

Considering sectoral developments, Nifty Realty and Nifty Consumer Durable were among the top gainers, while Nifty Media, Nifty PSU Bank and Nifty Metal were notable laggards.

Within the Nifty 50, Asian Paints, Grasim Industries and Cipla were among the leading gainers, whereas Adani Enterprises, Adani Ports and Special Economic Zone and NTPC were among the market draggers. With 940 shares rising on the NSE and 1,376 shares declining, the advance-decline ratio remained in favour of declines.

Pre-Market Update at 8:30 AM: The S&P 500 closed higher on Friday, recovering from its steep decline earlier in the week driven by recession fears and the unwinding of a global yen-funded carry trade. Despite this rebound, the index remained relatively unchanged for the week. The Dow Jones Industrial Average gained 0.13 per cent, while the Nasdaq Composite Index surged by 0.51 per cent.

Asian markets are displaying mixed performance today. Gift Nifty was trading around the 24,370 level, reflecting a considerable discount from the previous close, suggesting a negative start for the domestic indices.

Indian benchmark indices, Sensex and Nifty 50, are likely to open on a weak note today, reflecting cautious investor sentiment following the latest Hindenburg report and in anticipation of key domestic inflation data, against a backdrop of mixed global market cues.

On August 9, foreign institutional investors (FIIs) purchased shares worth Rs 406.72 crore, while domestic institutional investors (DIIs) made a significant inflow of Rs 3,979.59 crore.