Market Wrap: Benchmark indices close on a lower note with Nifty Metal among the top losers!
On Monday, Indian benchmark indices wrapped up the trading session on a somewhat pessimistic note, with the Sensex and Nifty closing with modest declines of 0.44 per cent and 0.47 per cent, respectively.
Market Update on 3:40 PM: On Monday, Indian benchmark indices wrapped up the trading session on a somewhat pessimistic note, with the Sensex and Nifty closing with modest declines of 0.44 per cent and 0.47 per cent, respectively. In a parallel move, the broader indices, including the Nifty Midcap and Nifty Smallcap, also experienced minor setbacks, closing lower by 0.26 per cent and 0.07 per cent, respectively.
Adding to the market's dynamics, the India VIX displayed an uptick of 1.8 per cent, signalling an uptick in market volatility.
Within the sectors, Nifty Realty, Nifty Media, and Nifty Pharma exhibited noteworthy gains, while Nifty Metal, Nifty IT, and Nifty Auto faced losses.
Some individual stocks that stood out included Sun Pharma, BPCL, and Hindalco, which posted strong gains, while Adani Enterprises, SBI Life, and Coal India recorded declines among the Nifty 50 constituents.
The broader market sentiment remained somewhat positive, with approximately 737 stocks advancing compared to 1,267 stocks declining, indicating a mixed landscape for investors.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
Market Update at 2:10 PM: In the current market session, the Sensex and Nifty are currently experiencing slight downturns of 0.3 per cent and 0.31 per cent, respectively. On the other hand, the Nifty Midcap and Nifty Smallcap are making marginal gains of 0.03 per cent and 0.14 per cent, respectively.
Market volatility has shown an increase, with the India VIX surging by 1.90 per cent.
Top-performing sectors include Nifty Media, Nifty Realty, and Nifty Pharma, while Nifty FMCG, Nifty Bank, and Nifty Metal are facing losses.
Among individual stocks, Sun Pharma, BPCL, and Bajaj Auto are notable gainers, whereas Adani Enterprises, Coal India, and Adani Ports are leading decliners within the Nifty 50.
In the broader market, the sentiment appears to lean negative, as around 855 stocks are advancing compared to 1,142 stocks that are declining.
Market Update at 12:40 PM: In the Indian stock market, the Sensex and Nifty are exhibiting marginal declines of 0.17 per cent and 0.16 per cent, respectively, while the Nifty Midcap and Nifty Smallcap show modest gains of 0.08 per cent and 0.4 per cent, respectively.
Market volatility has seen a mild uptick, with the India VIX surging by 1.25 per cent.
Meanwhile, European markets appear poised for a positive opening, with European futures for DAX, FTSE, and CAC trading higher by 0.62 per cent, 0.31 per cent, and 0.42 per cent, respectively.
Among the sectors, Nifty Realty, Nifty PSU Bank, and Nifty Energy are leading in gains, while Nifty Financial Services, Nifty Metal, and Nifty Bank are among the top losers.
In the Nifty 50, notable gainers include Tata Consumer, BPCL, and Bajaj Auto, while Adani Enterprises, Coal India, and Asian Paints are leading decliners.
The broader market sentiment remains positive, with approximately 1,042 stocks advancing compared to 949 stocks declining.
Market Update at 11:20 AM: In the current market session, the Sensex and Nifty are witnessing modest declines of 0.24 per cent and 0.23 per cent, respectively, while the Nifty Midcap and Nifty Smallcap show slight gains of 0.04 per cent and 0.48 per cent, respectively.
Market volatility has seen a mild uptick, with the India VIX surging by 1.42 per cent.
Among the sectors, Nifty Realty, Nifty PSSU Bank, and Nifty Energy are leading in gains, while Nifty Media, Nifty Metal, and Nifty Bank are facing losses.
Individual stocks with noteworthy performance include Tata Consumer, BPCL, and Bajaj Auto as gainers, and Asian Paints, Nestle India, and Maruti as leading decliners within the Nifty 50.
In the broader market, a positive sentiment prevails with around 1,120 stocks advancing compared to 854 stocks declining.
Market Update at 9:30 AM: The Indian stock market started the day on flat note with the Sensex and Nifty opening with marginal decreases of 0.08 per cent and 0.01 per cent, respectively. Whereas the Nifty Midcap exhibited a marginal increase of 0.17 per cent, while the Nifty Smallcap saw a moderate gain of 0.66 per cent in its opening.
Furthermore, the India VIX, a key indicator of market volatility, showed a marginal increase of 1.27 per cent, suggesting a minor uptick in market unpredictability.
On a sectoral level, Nifty Realty, Nifty Auto, and Nifty FMCG stood out as the top-performing sectors, while Nifty Metal, Nifty Bank, and Nifty PSU faced declines.
Among individual stocks, BPCL, Hero Motocorp, and Bajaj Auto demonstrated notable gains, whereas JSW Steel, Bharti Airtel, and Kotak Bank experienced losses.
Market sentiment appeared to be positive, with approximately 1,098 stocks advancing in comparison to 710 stocks declining, indicating a broader market outlook that leans towards optimism.
Pre-Market Update at 7:50 AM: On Tuesday evening, US stock futures showed a modest decline as Wall Street prepared for the Federal Reserve's upcoming interest rate policy decision following a challenging month. Futures linked to the Dow Jones Industrial Average were down by 50 points, a decrease of 0.15 per cent. Similarly, S&P 500 futures and Nasdaq 100 futures both exhibited approximately a 0.2 per cent drop.
The GIFT Nifty suggests a slightly bearish opening for the benchmark indices, with a minor loss of 12 points. GIFT Nifty futures were at 19,130 points, having reached a peak at 19,161 points.
DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.
On Tuesday, oil prices inched up due to a decline in euro zone inflation, which raised expectations that the European Central Bank had likely completed its interest rate hikes. This increase offset the growing oil supply from both OPEC and the United States. Brent crude futures, scheduled for December delivery, rose by 31 cents, or 0.4 per cent, reaching USD 87.76 per barrel just before their expiration later in the day.
In the futures market, the Dollar index showed a 0.56 per cent gain, trading at 106.72, while the value of one dollar remained near Rs 83.28.
On October 31, foreign institutional investors (FII) offloaded shares worth Rs 696.02 crore, while domestic institutional investors (DII) purchased shares worth Rs 340.25 crore.
Stock that is banned for trading in the F&O segment on November 1, 2023, is GNFC.