Market Wrap: Benchmark indices close on a mixed note while Nifty Smallcap plummets over 1.5 per cent!

On Monday, Benchmark indices concluded trading day on a mixed note as Sensex marginally gained by 0.02 per cent and closed at 73,895.54 level, whereas Nifty plunged by 0.15 per cent and closed at 22,442.70 level.

Market Update at 3:40 PM: On Monday, Benchmark indices concluded trading day on a mixed note as Sensex marginally gained by 0.02 per cent and closed at 73,895.54 level, whereas Nifty plunged by 0.15 per cent and closed at 22,442.70 level. Similarly, the Broader market experienced substantial losses as Nifty Midcap closed lower by 0.54 per cent, while Nifty Smallcap plummeted by 1.5 per cent.

Market volatility, as indicated by India VIX, has surged by 13.24 per cent, reflecting an significant increase in market volatility.

Nifty Realty, Nifty IT, Nifty FMCG and Nifty Pharma closed positively while Nifty PSU Bank, Nifty Media, Nifty Energy and Nifty Metal were among the top losers.

Britannia, Kotak Bank and TCS were among the top gainers while Titan, Adani Enterprises and BPCL were among the top losing stocks from the Nifty 50.

About 552 stocks were advancing as against to 1576 stocks that were declining, thus indicating a negative sentiment in the broader market.

Market Update at 2:15 PM: In the current trading session benchmark indices trade on a lower note with the Sensex trading marginally lower by 0.01 per cent, while Nifty declined by 0.12 per cent. Similarly, in the broader indices Nifty Midcap has declined by 0.48 per cent, while Nifty Smallcap has plummeted by 1.14 per cent.

India VIX is currently trading significantly higher by 13.7 per cent, indicating an increase in market volatility.

Nifty Realty, Nifty IT and Nifty FMCG are trading positively while Nifty PSU Bank, Nifty Media and Nifty Energy are among the top losers.

Britannia, Kotak Bank and TCS are among the top gainers while Titan, Adani Enterprises and SBI are among the top losing stocks from the Nifty 50.

About 560 stocks are advancing as against 1566 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 12:40 PM In the current trading session benchmark indices trade moderately higher as Sensex has surged by 0.2 per cent, while Nifty also marginally gained by 0.05 per cent. Whereas, in the broader markets Nifty Midcap has moderately declined by 0.36 per cent, while Nifty Smallcap has plunged by 1 per cent.

India VIX has spiked up by 11.99 per cent, indicating a substantial increase in market volatility.

European markets are set to open higher on Monday as Traders continue to assess the possibility of rate cuts after softer than expected US Jobs data. European futures DAX, CAC and FTSE trade higher by 0.24 per cent and 0.01 and 0.59 per cent respectively.

Nifty Realty, Nifty IT and Nifty FMCG are trading positively while Nifty PSU Bank, Nifty Media and Nifty Energy are among the top losers.

Britannia, Kotak Bank and TCS are among the top gainers while Titan, Adani Enterprises and SBI are among the top losing stocks from the Nifty 50.

About 613 stocks are advancing as against to 1507 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:11 AM: In the ongoing trading session, Benchmark indices are trading on a positive note with Sensex moderately surging by 0.38 per cent, while Nifty also gained by 0.23 per cent. Whereas, in the broader indices Nifty Midcap experience moderate declines of 0.34 per cent, while Nifty Smallcap has substantially declined by 0.78 per cent.

India VIX is trading higher by 10.55 per cent, indicating a significant increase in market volatility.

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

Top gainers in individual stocks are Britannia, Kotak Bank and TCS, whereas Titan, SBI and Adani Ports are among the top losers in the Nifty 50.

The broader market sentiment is negative, with 642 stocks advancing compared to 1451 stocks declining.

Market Update at 9:35 AM: On Monday, Indian markets initiated the trading week on a positive note with Sensex opening moderately higher by 0.62 per cent, while Nifty also opened higher by 0.43 per cent. Similarly, in the broader indices Nifty Midcap opened marginally lower by 0.02 per cent, while Nifty Smallcap declined by 0.29 per cent.

India VIX has spiked up by 9.18 per cent, indicating a substantial increase in market volatility.

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

Kotak Bank, Britannia and JSW Steel are among the top gainers while Titan, SBI and Shriram Finance are among the top losing stocks from the Nifty 50.

About 960 stocks are advancing as against to 1010 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 8:25 AM: US Stocks surged on Friday, driven by the tech sector, following a lacklustre jobs report. The Nasdaq jumped 2 per cent, the S&P 500 rallied 1.8 per cent, and the Dow Jones rose 1.2 per cent. Small-Cap stocks also saw gains. Major indexes closed near or above their 50-day moving averages.

April's disappointing jobs report contributed to investor confidence. Additionally, Powell's dovish comments bolstered bullish sentiment. The economic calendar for next week is light, while earnings season intensifies with notable reports from Berkshire Hathaway, Palantir, and Arm.

The GIFT Nifty trends suggest a bullish opening for the Indian Benchmark indices, with an increase of 112 points or 0.5 per cent. Nifty futures were observed trading near the 22,693 level.

Oil prices increased during early trading following Israel's closure of the Kerem Shalom humanitarian crossing into Gaza on Sunday, in response to a rocket barrage from Hamas. This development poses a threat to ongoing hostage and cease-fire negotiations. Additionally, Saudi Arabia raised the price of crude sold to Asia, aiming to tighten the oil market.

On May 03, 2024, foreign institutional investors (FII) offloaded shares worth Rs 2,391.98 crore, while domestic institutional investors (DII) bought shares worth Rs 690.52 crore.

Stocks that are banned for trading in the F&O segment on May 06, 2024, are ABFRL, BALRAMCHIN, BIOCON, GMRINFRA and IDEA.