Market Wrap: Benchmark indices close on a positive note while Nifty Smallcap outperforms!

On Wednesday, Frontline indices concluded the day on a positive note as Sensex closed substantially higher by 0.86 per cent concluding at 71,752.11 level, while Nifty soared by 0.95 per cent and closed at 21,725.70 level.

Market Update at 3:45 PM: On Wednesday, Frontline indices concluded the day on a positive note as Sensex closed substantially higher by 0.86 per cent concluding at 71,752.11 level, while Nifty soared by 0.95 per cent and closed at 21,725.70 level. Whereas the Broader market experienced significant gains as Nifty Midcap closed substantially higher by 1.63 per cent, while Nifty Smallcap soared by 2.25 per cent.

Market volatility, as indicated by India VIX, has marginally declined by 0.34 per cent, reflecting a decline in market volatility.

Nifty Pharma, Nifty Realty, Nifty PSU Bank and Nifty Auto were among the top gainers while there were no major sectors which underperformed.

Dr Reddy’s Laboratories, Eicher Motors and Sun Pharma were among the top gainers while L&T, Titan and Tata Consumer Product were among the top losing stocks from the Nifty 50.

About 1574 stocks were advancing as against to 654 stocks that were declining, thus indicating an optimistic sentiment in the broader market.

Market Update at 2:20 PM: In the current trading session benchmark indices trade on a positive note with the Sensex surging by 0.69 per cent, whereas Nifty also soared by 0.75 per cent. Whereas, Nifty Midcap has soared by 1.31 per cent, while Nifty Smallcap trades significantly higher by 2.06 per cent.

India VIX is currently trading marginally lower by 0.67 per cent, indicating a marginal decline in market volatility.

Nifty Pharma, Nifty Realty and Nifty PSU Bank are among the top gainers while currently no major sectors are underperforming.

Dr Reddy’s Laboratories, Sun Pharma and Eicher Motors are among the top gainers while L&T, Titan and BPCL are among the top losing stocks from the Nifty 50.

About 1614 stocks are advancing as against to 605 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 12:45 PM: In the current trading session benchmark indices trade moderately higher with the Sensex surging by 0.61 per cent, while Nifty also surged by 0.65 per cent. Similarly, in the broader indices Nifty Midcap soared by 0.96 per cent, while Nifty Smallcap surged by 1.68 per cent.

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

European stocks are heading for a mixed open on Wednesday as global markets look ahead to the latest Monetary Policy Decision from the U.S. Federal Reserve. European futures DAX and CAC trades lower by 0.12 per cent and, 0.04 per cent while FTSE trades marginally higher by 0.07 per cent.

Nifty Pharma, Nifty Bank and Nifty Auto are among the top gainers, while Nifty Media is the only major sector which is underperforming.

Dr Reddy’s Laboratories, Sun Pharma and Eicher Motors are among the top gainers while L&T, Titan and NTPC are among the top losing stocks from the Nifty 50.

About 1536 stocks are advancing as against to 666 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 surging by 0.71 per cent and Nifty is also showing gain of 0.64 per cent. Whereas in the broader indices Nifty Midcap experienced significant gains of 0.92 per cent, while Nifty Smallcap soared by 1.52 per cent.

India VIX is trading marginally lower by 0.31 per cent, indicating a marginal decrease in market volatility.

Noteworthy gainers include Nifty Pharma, Nifty Bank and Nifty Financial Services, while Nifty FMCG is the only major sector which is currently underperforming.

Top gainers in individual stocks are Dr Reddy’s Laboratories, Tata Motors and Axis Bank, whereas L&T, Titan, and Tata Consumer Product are among the leading losers in the Nifty 50.

The broader market sentiment remains positive, with 1583 stocks advancing compared to 625 declining.

Market Update at 9:35 AM: On Wednesday, Indian markets initiated the trading day on a positive note with the Sensex opening higher by 0.1 per cent, while Nifty also opened marginally higher by 0.15 per cent. Whereas Nifty Midcap opened moderately higher by 0.47 per cent, whereas Nifty Smallcap opened substantially higher 1.19 per cent.

India VIX has surged by 1.69 per cent, indicating a marginal increase in market volatility.

Nifty Energy, Nifty Metal and Nifty Auto are among the top gainers while Nifty Bank, Nifty PSU Bank and Nifty Financial Services are among the top losers.

Tata Motors, Adani Ports and BPCL are among the top gainers while L&T, Titan and ICICI Bank are among the top losing stocks from the Nifty 50.

About 1570 stocks are advancing as against to 530 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 7:55 AM: On Tuesday, the Nasdaq, which is heavily weighted towards technology stocks, experienced a downturn as investors awaited a series of significant corporate earnings reports and the Federal Reserve's monetary policy meeting.

The S&P 500 closed with a slight decrease of 0.06 per cent, settling at 4,924.97 points. The Nasdaq Composite Index saw a decline of 0.76 per cent, reaching 15,509.90 points, while the Dow Jones Industrial Average recorded a modest increase of 0.35 per cent, reaching 38,467.31 points.

The GIFT Nifty trends suggest a pessimistic beginning for the benchmark indices in India, with a decline of 39 points or 0.18 per cent. Nifty futures were observed trading near the 21,631 level.

On Tuesday, oil prices increased due to a heightened global economic growth projection and escalating tensions in the Middle East, counterbalancing worries regarding Chinese demand.

The March Brent crude futures, set to expire on Wednesday, saw a rise of 47 cents, settling at USD 82.87 a barrel. Meanwhile, the April contract, which is more actively traded, closed up by 67 cents at USD 82.50. Additionally, US West Texas Intermediate crude settled up by USD 1.04, or 1.35 per cent, at USD 77.82.

On Wednesday, the dollar was on track to achieve its most significant monthly increase since September. Investors awaited a decision on U.S. interest rates to conclude January.

Throughout this month, the dollar has strengthened by 2 per cent against a basket of major currencies, as market sentiment shifted towards a slower pace and magnitude of rate cuts due to robust U.S. economic data and resistance from central bankers.

On January 30, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,970.52 crore, while domestic institutional investors (DII) bought shares worth Rs 1,002.70 crore.

Stock that is banned for trading in the F&O segment on January 31, 2024, is ZEEL.