Market Wrap: Benchmark indices close on a lower note after Nifty making a new all-time high!

On Friday, Benchmark indices concluded the trading day on a negative note as Sensex closed marginally lower by 0.02 per cent concluding at 73,142.80 level, while Nifty closed flat after making a new all-time high of 22,297.50 level.

Market Update at 3:50 PM: On Friday, Benchmark indices concluded the trading day on a negative note as Sensex closed marginally lower by 0.02 per cent concluding at 73,142.80 level, while Nifty closed flat after making a new all-time high of 22,297.50 level. Similarly, the Broader market experienced moderate gains as Nifty Midcap closed higher by 0.27 per cent, while Nifty Smallcap soared by 0.34 per cent.

Market volatility, as indicated by India VIX, has declined by 1.48 per cent, reflecting a decrease in market volatility.

Nifty Media, Nifty Realty, Nifty Pharma and Nifty Auto were among the top gainers while Nifty PSU Bank, Nifty Metal, Nifty Bank and Nifty IT were among the top losers.

Bajaj Finserv, SBI Life and Dr Reddy’s Laboratories were among the top gainers while BPCL, HCL Technologies and Maruti were among the top losing stocks from the Nifty 50.

About 1130 stocks were advancing as against to 1109 stocks that were declining, thus indicating a slight optimistic sentiment in the broader market.

Market Update at 2:30 PM: In the current trading session benchmark indices trade on a mixed note with the Sensex trading marginally lower by 0.07 per cent, while Nifty also trades marginally higher by 0.02 per cent. Whereas, in the broader indices Nifty Midcap soared by 0.53 per cent, while Nifty Smallcap surged by 0.54 per cent.

India VIX is currently trading lower by 0.36 per cent, indicating a decrease in market volatility.

Nifty Media, Nifty Realty and Nifty Pharma are among the top gainers, while Nifty PSU Bank, Nifty Bank and Nifty IT are among the top losers.

Bajaj Finserv, SBI Life and Adani Ports are among the top gainers while Asian Paints, Maruti and SBI are among the top losing stocks from the Nifty 50.

About 1267 stocks are advancing as against to 977 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:35 PM: In the current trading session benchmark indices trade on a higher note with the Sensex surging by 0.15 per cent, while Nifty also marginally gained by 0.16 per cent. Whereas, in the broader indices Nifty Midcap has surged by 0.63 per cent, while Nifty Smallcap gained by 0.54 per cent.

India VIX is currently trading marginally higher by 0.13 per cent, indicating a slight increase in market volatility.

European stocks may open on a mixed note on Friday after a U.S. Federal Reserve official said there is no rush to begin cutting interest rates. European futures DAX and CAC trade higher by 0.02 per cent and 0.23 per cent respectively while FTSE trades marginally lower by 0.02 per cent.

Nifty Media, Nifty Pharma and Nifty Realty are among the top gainers, while Nifty PSU Bank and Nifty Energy are among the top losers.

Cipla, M&M and HDFC Life are among the top gainers while Asian Paints, Bharti Airtel and NTPC are among the top losing stocks from the Nifty 50.

About 1382 stocks are advancing as against to 841 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 moderately higher by 0.1 while Nifty makes a new all-time high of 22,297.50 after surging over 0.09 per cent. Similarly, in the broader indices Nifty Midcap experience a moderate gain of 0.35 per cent, while Nifty Smallcap has surged by 0.39 per cent.

India VIX is trading marginally higher by 0.12 per cent, indicating a slight increase in market volatility.

Noteworthy gainers include Nifty Media, Nifty Realty and Nifty IT, while Nifty PSU Bank, Nifty Energy and Nifty FMCG are among the top losers.

Top gainers in individual stocks are Dr Reddy’s Laboratories, Cipla and Titan, whereas Bharti Airtel, BPCL and Asian Paints are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 1350 stocks advancing compared to 876 declining.

Market Update at 9:40 AM: On Friday, Indian markets initiated the trading day on a positive note with Sensex opening marginally higher by 0.22 per cent, while Nifty also opened higher by 0.21 per cent. Similarly in the broader indices Nifty Midcap opened moderately higher by 0.45 per cent, while Nifty Smallcap also opened moderately higher by 0.63 per cent.

India VIX has marginally surged by 0.69 per cent, indicating a slight increase in market volatility.

Nifty Realty, Nifty Media and Nifty PSU Bank are among the top gainers while Nifty Energy is the only major sector which is among the top losers.

Titan, HDFC Life and Bajaj Finserv are among the top gainers while Bharti Airtel, Asian Paints and BPCL are among the top losing stocks from the Nifty 50.

About 1550 stocks are advancing as against to 551 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:55 AM: Both the S&P 500 and Dow Jones Industrial Average achieved historic closing peaks on Thursday, driven by a surge in investment towards growth and technology stocks following Nvidia's impressive earnings report and optimistic outlook.

The S&P 500 closed at a new high of 5,087.03, climbing 105.23 points or 2.11 per cent, while the Dow Jones Industrials reached a record of 39,069.11, marking a gain of 456.87 points or 1.18 per cent. Notably, this marked the first time the Dow surpassed the 39,000-point threshold.

Additionally, the Nasdaq Composite surged by 460.75 points or 2.96 per cent, concluding the day at 16,041.62.

The GIFT Nifty shows a promising beginning for benchmark indices, marking an increase of 39 points or 0.18 per cent. Nifty futures were observed trading near the 22,306 level.

Oil futures closed higher on Thursday amidst ongoing hostilities in the Red Sea, where Iran-aligned Houthis intensified attacks near Yemen. However, gains were tempered by a substantial increase in U.S. crude inventories.

Brent crude futures settled up 64 cents, or 0.77 per cent, at USD 83.67 per barrel, while US West Texas Intermediate crude futures settled higher by 70 cents, or 0.9 per cent, at USD 78.61 per barrel.

On February 22, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,410.05 crore, while domestic institutional investors (DII) bought shares worth Rs 1,823.68 crore.

Stocks that are banned for trading in the F&O segment on February 23, 2024, are ABFRL, ASHOKLEY, BALRAMCHIN, BANDHANBNK, BIOCON, GMRINFRA, GNFC, HINDCOPPER, INDUSTOWER, NATIONALUM, PEL, PVRINOX, RBLBANK, SAIL and ZEEL.