Nifty and Sensex in red as IT lags, Pharma and Realty gain!
Sensex is down by 0.21 per cent, hovering around 79,770, and Nifty is down by 0.16 per cent, trading near 24,300.
Market Update at 9:20 AM: On Thursday, markets opened on a negative note, with both Nifty and Sensex showing negative movement. Nifty Pharma led the gains and Nifty IT was the biggest laggard.
As of now, the Sensex is down by 0.21 per cent, hovering around 79,770, and Nifty is down by 0.16 per cent, trading near 24,300. However, in the broader market, the Nifty Midcap declined about 0.26 per cent to about 56,190, and the Nifty Smallcap is up by 0.12 per cent, trading near 18,400.
India VIX up by 3.09 per cent and is trading at 15.99, indicating a rise in market volatility.
Within the sectoral landscape Nifty Pharma, Nifty Media and Nifty Realty are among the Top Gainers while Nifty IT, Nifty FMCG and Nifty MID SELECT are underperforming.
CIPLA, LT, and DRREDDY are among the top gainers within the Nifty 50 while TECHM, INFY, and TCS are among the Top Losers.
About 1,300 stocks are advancing as against to 910 stocks that are declining, thus indicating a positive sentiment in the broader market.
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Pre-Market Update at 8:45 AM: US stock indexes dropped Wednesday as chip stocks slid and investors awaited corporate earnings.
The Dow fell 91.51 points (0.22 per cent) to 42,141.54, the S&P 500 dropped 19.25 points (0.33 per cent) to 5,813.67, and the Nasdaq slid 104.82 points (0.56 per cent) to 18,607.93.
The GIFT Nifty is trading lower, indicating a weak start for the day. Nifty futures were trading at 24,509.00.
The U.S. 10-year Treasury yield stands at 4.284 per cent, while the 2-year bond yield at 4.176 per cent.
Oil prices rose Thursday, extending the previous rally amid optimism over U.S. fuel demand following a surprise drop in crude and gasoline inventories. Reports suggesting OPEC+ may delay a planned output increase also supported prices.
Brent crude gained 35 cents (0.5 per cent) to $72.90 a barrel, while U.S. West Texas Intermediate added 32 cents (0.5 per cent) to $68.93 per barrel.
On October 30 2024, foreign institutional investors (FII) sold shares worth Rs 4,613 crore, while domestic institutional investors (DII) bought shares worth Rs 4,518 crore.
Stocks that are banned for trading in the F&O segment on October 31, 2024, are IDFCFIRSTB, INDIAMART, PNB, RBLBANK.
Disclaimer: The article is for informational purposes only and not investment advice.