Market Wrap: Benchmark indices closed on a higher note while Nifty IT underperformed!

Gaurav Taparia
/ Categories: Trending, Mkt Commentary
Market Wrap: Benchmark indices closed on a higher note while Nifty IT underperformed!

Sensex substantially gained by 0.26 per cent closing at 72,831.94 level, while Nifty also gained by 0.39 per cent and closed at 22,096.75 level.

Market Update at 3:45 PM: On Friday, Benchmark indices concluded the trading day on a positive note as Sensex substantially gained by 0.26 per cent closing at 72,831.94 level, while Nifty also gained by 0.39 per cent and closed at 22,096.75 level. Similarly, the Broader market experienced substantial gains as Nifty Midcap closed significantly higher by 0.59 per cent, while Nifty Smallcap soared by 0.64 per cent.

Market volatility, as indicated by India VIX, has declined by 2.34 per cent, reflecting a decrease in market volatility.

Nifty Auto, Nifty Realty, and Nifty Media are among the top gainers while currently there is only Nifty IT which is underperforming.

Hero Motocorp, Maruti and Sun Pharmaceuticals are among the top gainers while Infosys, Wipro, and LTI Mindtree are among the top losing stocks from the Nifty 50.

About 1688 stocks were advancing as against to 893 stocks that were declining, thus indicating a positive sentiment in the broader market.

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Market Update at 2:35 PM: In the current trading session benchmark indices trade on a higher note with the Sensex marginally surging by 0.33 per cent, whereas Nifty marginally declined by 0.04 per cent. Similarly, Nifty Midcap has declined by 0.67 per cent, while Nifty Smallcap trades lower by 0.82 per cent

India VIX is currently trading marginally lower by 0.8 per cent, indicating a slight decrease in market volatility.

Nifty Auto, Nifty Realty, and Nifty Media are among the top gainers while currently there is only Nifty IT which is underperforming.

Hero Motocorp, UPL and Maruti are among the top gainers while while Infosys, Wipro, and LTI Mindtree are among the top losing stocks from the Nifty 50.

About 1798 stocks are advancing as against to 758 stocks that are declining, thus indicating a slight positive sentiment in the broader market.

 

Market Update at 12:50 PM: In the current trading session benchmark indices trade significantly higher with the Sensex substantially surging by 0.23 per cent, while Nifty also gained by 0.32 per cent. Similarly, in the broader markets, the Nifty Mid-cap has soared by 0.38 per cent, while Nifty Small-cap has gained by 0.73 per cent.

India VIX is currently trading substantially higher by 0.28 per cent, indicating a increase in market volatility.

European markets are heading for a negative open on Friday with the latest Monetary Policy decisions from The Bank of England leaving the interest rate unchanged at 5.25 per cent. European futures DAX and CAC trade lower by 0.14 per cent and 0.27 per cent whereas FTSE trades slightly higher by 0.03 per cent respectively

Nifty Auto, Nifty Realty, and Nifty Media are among the top gainers while currently there is only Nifty IT which is underperforming.

UPL, Hero Motocorp, and Sun Pharmaceuticals are among the top gainers while Infosys, Wipro, and LTI Mindtree are among the top losing stocks from the Nifty 50.

About 1,759 stocks are advancing as against to 687 stocks that are declining, thus indicating a positive sentiment in the broader market.

 

Market Update at 11:00 AM: In the ongoing trading session, benchmark indices are trading on a higher note, with Sensex trading substantially higher by 0.1 per cent while Nifty also trades higher by 0.15 per cent. Similarly, in the broader indices, Nifty Midcap experiences a significant loss of 0.09 per cent, while Nifty Small-cap soars by 0.37 per cent.

India VIX is trading higher by 0.96 per cent, indicating an increase in market volatility.

Nifty Realty, Nifty Media, and Nifty PSU Banks are among the top gaining sectors while currently, only Nifty IT is the major sector underperforming.

Top gainers in individual stocks are Sun Pharmaceutical, Apollo hospital and Bajaj Auto, whereas HCL Technologies, LTI Mindtree and Wipro are among the top losing stocks from the Nifty 50.

The broader market sentiment is positive, with 1606 stocks advancing compared to 738 stocks declining.

 

Market Update at 9:45 AM: On Friday, Indian markets initiated the trading day on a negative note with Sensex opening substantially lower by 0.58 per cent, while Nifty also opened lower by 0.53 per cent. Similarly, in the broader indices, Nifty Mid-cap opened substantially lower by 0.37 per cent, while Nifty Small-cap also opened significantly lower by 0.08 per cent.

India VIX has jumped by 3.96 per cent, indicating an increase in market volatility.

Nifty Realty, Nifty Pharma Bank and Nifty Media are among the top gainers while currently, Nifty IT, Nifty Metals and Nifty Energy sectors are underperforming.

Cipla, Sun pharmaceutical industries and UPL are among the top gainers while HCL Technologies, LTI Mindtree and Wipro are among the top losing stocks from the Nifty 50.

About 1297 stocks are advancing as against to 838 stocks that are declining, thus indicating a positive sentiment in the broader market.

 

Pre-Market Update at 8:45 AM: Global stock benchmarks surged further into record territory on Thursday. Government bond yields mostly declined after the Swiss National Bank became the first major central bank to ease policy in this cycle. This move followed the Federal Reserve's decision to maintain its 2024 rate cut outlook. The Dow Jones Industrial Average rose 0.68 per cent, the S&P 500 climbed 0.32 per cent, and the Nasdaq Composite advanced 0.2 per cent.

The GIFT Nifty trends suggest a potentially flat to negative opening for the broader index in India, indicating a loss of 23 points or 0.10 per cent. Nifty futures were trading near the 22,090.50 level.

Oil prices declined in early Asian trading on Friday due to several factors. The potential for a ceasefire in Gaza raised concerns about increased global supply. Additionally, a stronger U.S. dollar and weakening gasoline demand dampened sentiment. Brent crude futures dropped 18 cents to USD 85.60 a barrel, while U.S. crude futures fell 19 cents to USD 80.88 per barrel.

The Election Commission of India (ECI) has uploaded Electoral Bonds data from State Bank of India (SBI) on March 21, following Supreme Court directives. One document links donor to unique bond numbers, while the other details political parties that encashed the bonds. SBI's compliance affidavit to the Supreme Court included purchaser names, bond details, and party bank account information.

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On March 21, the Securities and Exchange Board of India (Sebi) issued a framework for implementing the beta version of same-day (T+0) settlement, alongside the existing T+1 cycle. Initially, this option will be available for 25 scrips in the equity cash segment through select brokers, with trading from 9.15am to 1.30pm.

According to provisional data from the NSE, Foreign Institutional Investors (FIIs) sold shares worth Rs 1,826.97 crore, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 3,208.87 crore on March 21.

Stocks that are banned for trading in the F&O segment on March 22, 2024, are SAIL, BALRAMCHIN, BIOCON, HINDCOPPER, INDUSTOWER, PEL, RBLBANK, TATACHEM, ZEEL.

 

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