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

On Friday, Frontline indices concluded the day on a positive note as Sensex closed higher by 0.61 per cent concluding at 72,085.64 level, while Nifty soared by 0.72 per cent and closed at 21,853.80 level.

Market Update at 3:35 PM: On Friday, Frontline indices concluded the day on a positive note as Sensex closed higher by 0.61 per cent concluding at 72,085.64 level, while Nifty soared by 0.72 per cent and closed at 21,853.80 level. Similarly, the Broader market experienced moderate gains as Nifty Midcap closed moderately higher by 0.37 per cent, while Nifty Smallcap soared by 0.93 per cent.

Market volatility, as indicated by India VIX, has marginally surged by 1.68 per cent, reflecting a slight increase in market volatility.

Nifty Energy, Nifty Metal, Nifty PSU Bank and Nifty IT were among the top gainers while Nifty Bank, Nifty Financial Services and Nifty FMCG were among the top losers.

BPCL, Power Grid and ONGC were among the top gainers while Eicher Motors, Axis Bank and HDFC Life were among the top losing stocks from the Nifty 50.

About 1249 stocks were advancing as against to 991 stocks that were declining, thus indicating a pessimistic sentiment in the broader market.

Market Update at 2:10 PM: In the current trading session benchmark indices trade on a higher note with the Sensex surging by 0.75 per cent, while Nifty soared by 0.88 per cent. Similarly, in the broader indices Nifty Midcap moderately surged by 0.6 per cent, while Nifty Smallcap substantially gained by 1.16 per cent.

India VIX is currently trading marginally higher by 1.57 per cent, indicating a slight increase in market volatility.

Nifty Energy, Nifty PSU Bank and Nifty Metal are among the top gainers, while Nifty FMCG is the only major sector which is underperforming.

BPCL, Power Grid and ONGC are among the top gainers while Eicher Motors, HDFC Life and Hindustan Unilever are among the top losing stocks from the Nifty 50.

About 1379 stocks are advancing as against to 858 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 on a higher note with the Sensex surging by 1.18 per cent, while Nifty soared by 1.15 per cent. Similarly, in the broader indices Nifty Midcap surged by 0.56 per cent, while Nifty Smallcap marginally gained by 0.89 per cent.

India VIX is currently trading marginally higher by 1.07 per cent, indicating an increase in market volatility.

European markets are set to open on a positive note on Friday as weak U.S. Economic data pressured bond yields and tech giants delivered robust financial results. European futures, DAX, CAC and FTSE trade higher by 0.26 per cent, 0.67 per cent and 0.8 per cent respectively.

Nifty Energy, Nifty PSU Bank and Nifty IT are among the top gainers, while currently no major sectors are trading positively.

BPCL, Power Grid and Adani Ports are among the top gainers while Eicher Motors, HDFC Life and Hindustan Unilever are among the top losing stocks from the Nifty 50.

About 1372 stocks are advancing as against to 854 stocks that are declining, thus indicating a positive sentiment in the broader market.

Market Update at 11:20 AM: In the ongoing trading session, benchmark indices are trading on a higher note, with Sensex surging by 1.09 per cent and Nifty is also showing gain of 1.15 per cent. Similarly in the broader indices Nifty Midcap experiences moderate gain of 0.82 per cent, while Nifty Smallcap substantially surged by 1.47 per cent.

India VIX is trading marginally lower by 0.99 per cent, indicating a marginal decrease in market volatility.

Noteworthy gainers include Nifty Energy, Nifty PSU Bank and IT, while no major sectors were underperforming.

Top gainers in individual stocks are BPCL, Power Grid and Adani Ports, whereas Eicher Motors and HDFC Life are among the leading losers in the Nifty 50.

The broader market sentiment remains slightly positive, with 1651 stocks advancing compared to 580 declining.

Market Update at 9:35 AM: On Friday, Indian markets initiated the trading day on a positive note with the Sensex opening substantially higher by 1.2 per cent, while Nifty also opened significantly higher by 1.2 per cent. Similarly, Nifty Midcap opened moderately higher by 0.47 per cent, whereas Nifty Smallcap opened higher 1.04 per cent.

India VIX has declined by 1.07 per cent, indicating a marginal decrease in market volatility.

Nifty Energy, Nifty Realty and Nifty Media are among the top gainers while currently there are no major sectors underperforming.

Adani Ports, BPCL and Power Grid are among the top gainers while Eicher Motors, HDFC life and Axis Bank are among the top losing stocks from the Nifty 50.

About 1675 stocks are advancing as against to 425 stocks that are declining, thus indicating a positive sentiment in the broader market.

Pre-Market Update at 8:25 AM: On Thursday, US stocks staged a recovery as investors shifted focus towards upcoming high-profile earnings and Friday's employment report, following the Federal Reserve's announcement that rate cuts are not imminent, dispelling earlier expectations for March.

In a broad rally, all three major indices surged, with the Nasdaq leading the gains. The S&P 500 surged 1.25 per cent to close at 4,906.19 points, the Nasdaq rose 1.30 per cent to 15,361.64 points, and the Dow Jones Industrial Average increased by 0.97 per cent to 38,519.84 points.

The latest data on the GIFT Nifty suggests a neutral opening for the benchmark indices, with a marginal increase of 10 points. Nifty futures were observed trading near the 21,915.50 mark.

Oil prices declined over 2 per cent on Thursday following unverified reports of a ceasefire between Israel and Hamas, coupled with a power outage that led to the closure of a significant US refinery.

While a Qatari official denied an actual ceasefire, stating that Hamas had positively received a ceasefire proposal earlier in the week, Brent crude futures fell by USD 1.85 (2.5 per cent) to settle at USD 78.70 a barrel, and US West Texas Intermediate crude futures dropped by USD 2.03 (2.7 per cent) to USD 73.82.

Amid positive risk sentiment buoyed by strong earnings from big tech companies on Wall Street, the dollar experienced a broad decline on Friday. The dollar index stood at 103.02, poised for its first weekly decrease of the year.

On February 01, 2024, foreign institutional investors (FII) offloaded shares worth Rs 1,879.58 crore, while domestic institutional investors (DII) bought shares worth Rs 872.49 crore.

Stocks that are banned for trading in the F&O segment on February 02, 2024, are INDIACEM and INDUSTOWER, SAIL, ZEEL.