Market Wrap: Benchmark indices close lower while Broader indices significantly underperformed!

n Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 1.23 per cent closing at 72,761.89 level, while Nifty also significantly declined by 1.51 per cent and closed at 21,997.70 level.

Market Update at 3:40 PM: On Wednesday, Benchmark indices concluded the trading day on a negative note as Sensex closed lower by 1.23 per cent closing at 72,761.89 level, while Nifty also significantly declined by 1.51 per cent and closed at 21,997.70 level. Similarly, the Broader market experienced substantial declines as Nifty Midcap closed significantly lower by 4.4 per cent, while Nifty Smallcap plummeted by 5.28 per cent.

Market volatility, as indicated by India VIX, has surged by 5.96 per cent, reflecting a significant spike in market volatility.

Nifty FMCG was the only major sector which traded marginally positive while Nifty Metal, Nifty Media, Nifty Energy and Nifty Realty were among the top losers.

ITC, ICICI Bank and Kotak Bank were among the top gainers while Power Grid, Coal India and Adani Ports were among the top losing stocks from the Nifty 50.

About 88 stocks were advancing as against to 2202 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 substantially lower by 1.13 per cent, while Nifty trades lower by 1.41 per cent. Similarly, in the broader indices Nifty Midcap has plunged by 3.8 per cent, while Nifty Smallcap has plummeted by 4.6 per cent.

India VIX is currently trading higher by 7.2 per cent, indicating a substantial spike in market volatility.

Nifty FMCG is the only major sector, which is currently trading positively, while Nifty Realty, Nifty Metal and Nifty Media are among the top losers.

ITC, ICICI Bank and Kotak Bank are among the top gainers while Adani Enterprises, Adani Ports and Power Grid are among the top losing stocks from the Nifty 50.

About 97 stocks are advancing as against 2192 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 lower with the Sensex substantially declining by 0.87 per cent, while Nifty also plummeted by 1.07 per cent. Similarly, the trend was magnified in the broader indices as Nifty Midcap has plunged by 3.23 per cent, while Nifty Smallcap has plummeted by 4.05 per cent.

India VIX is currently trading lower by 1.29 per cent, indicating a slight decrease in market volatility.

European markets are heading for a mixed open on Wednesday as investors digested the latest U.S Inflation report. European futures DAX, and FTSE trade lower by 0.09 per cent and 0.02 per cent respectively, while CAC trades marginally higher by 0.04 per cent.

Nifty FMCG is the only major sector which is among the top gainers, while Nifty Realty, Nifty Media and Nifty Metal are among the top losers.

ITC, Kotak Bank and ICICI Bank are among the top gainers while Adani Enterprises, NTPC and Power Grid are among the top losing stocks from the Nifty 50.

About 104 stocks are advancing as against to 2186 stocks that are declining, thus indicating a negative sentiment in the broader market.

Market Update at 11:10 AM: In the ongoing trading session, benchmark indices are trading on a lower note, with Sensex trading moderately lower by 0.2 per cent while Nifty also trades lower by 0.41 per cent. Similarly, in the broader indices Nifty Midcap experiences a significant decline of 2.33 per cent, while Nifty Smallcap plummets by 3.12 per cent.

India VIX is trading marginally higher by 1.61 per cent, indicating a slight increase in market volatility.

Nifty FMCG and Nifty IT are among the top gaining sectors while Nifty Energy, Nifty Metal and Nifty Media among the top losers.

Top gainers in individual stocks are ITC, Nestle India and Britannia, whereas Power Grid, NTPC and Adani Enterprises are among the leading losers in the Nifty 50.

The broader market sentiment is negative, with 180 stocks advancing compared to 2081 stocks declining.

Market Update at 9:25 AM: On Wednesday, Indian markets initiated the trading day on a positive note with Sensex opening moderately higher by 0.25 per cent, while Nifty also opened higher by 0.15 per cent. Whereas in the broader indices Nifty Midcap opened moderately lower by 0.23 per cent, while Nifty Smallcap opened marginally lower by 0.02 per cent.

India VIX has marginally surged by 0.48 per cent, indicating a slight increase in market volatility.

Nifty FMCG, Nifty IT and Nifty Media are among the top gainers while Nifty Energy, Nifty Metal and Nifty Pharma are among the top losers.

ITC, Wipro and LTIMindtree are among the top gainers while Power Grid, NTPC and ONGC are among the top losing stocks from the Nifty 50.

About 986 stocks are advancing as against to 1102 stocks that are declining, thus indicating a negative sentiment in the broader market.

Pre-Market Update at 7:55 AM: On Tuesday, US stocks closed significantly higher, with the S&P 500 achieving a record-high close fuelled by a surge in Oracle shares and investors' optimism regarding potential interest rate cuts in the upcoming months despite mixed consumer price data.

The Dow Jones Industrial Average increased by 235.74 points, or 0.61 per cent, reaching 39,005.4. Similarly, the S&P 500 saw a gain of 57.3 points, or 1.12 per cent, closing at 5,175.24, while the Nasdaq Composite surged by 246.36 points, or 1.54 per cent, concluding at 16,265.64.

The GIFT Nifty trends suggest a favourable beginning for the benchmark indices, showing an increase of 27.50 points or 0.12 per cent. Nifty futures were observed trading near the 22,466.50 level.

On Wednesday, oil prices climbed as anticipation of robust global demand, particularly from the top consumer, the United States, bolstered sentiment. Moreover, despite some lingering concerns over inflation in the United States, expectations remained intact that the Federal Reserve might initiate rate cuts soon.

Brent futures for May delivery saw an increase of 36 cents, or 0.44 per cent, reaching USD 82.28 per barrel. Similarly, the April U.S. West Texas Intermediate (WTI) crude contract rose by 38 cents, or 0.49 per cent, settling at USD 77.94.

On March 12, 2024, foreign institutional investors (FII) bought shares worth Rs 73.12 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,358.18 crore.

Stock that is banned for trading in the F&O segment on March 13, 2024, are ABFRL, HINDCOPPER, MANAPPURAM, MGL, NATIONALUM, PEL, SAIL, TATACHEM and ZEEL.