Share Market Today | GIFT Nifty Up 90+ Points, US Markets Hit New Highs

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00


Today’s latest market updates include HDFC Bank’s potential $4B inflows due to MSCI rejig, CDSL’s 1:1 bonus issue, IEX’s 24.7% growth in June electricity volume, RVNL’s Central Railway project worth ₹132.59 Cr, Government’s plan for 5-7% stakesale in Concor, plus other global market news.

Latest Market News

  1. HDFC Bank may get up to $4 billion in inflows due to a rise in MSCI weightage.

  2. Motilal Oswal Financial Services received a SEBI warning for operational issues.

  3. CDSL shareholders will receive one free share for every share they hold as a bonus issue.

  4. Kotak Mahindra Bank clarified its position after a SEBI notice related to the Adani-Hindenburg matter.

  5. IEX reported a 24.7% growth in June electricity volume as India's energy consumption increased.

  6. India's electronics manufacturing industry is expected to reach $300 billion by 2026-27, says Dixon Technologies.

  7. RVNL won a Central Railway project worth ₹132.59 crore as the lowest bidder.

  8. Waaree Energies will supply 900 MW of modules to Serentica Renewables in Rajasthan.

  9. KEC International secured new orders worth ₹1,017 crore in Transmission & Distribution and renewables businesses.

  10. The government may sell 5-7% equity in CONCOR after a weak response to the strategic sale plan.

  11. FIIs sold ₹2,000.12 crore in equities while DIIs bought ₹648.25 crore yesterday.

In-Depth Market Insights: Global Outlook, Derivatives & More

US Share Market News

  1. Performance Overview:

    • On Tuesday, the S&P 500 closed above 5,500 for the first time ever, boosted by a surge in Tesla and optimism about rate cuts after Federal Reserve Chair Jerome Powell praised recent progress on inflation.

  2. Economic Indicators:

    • Fed Chair Jerome Powell stated that the Fed has made 'quite a bit of progress' in bringing inflation back down toward the central bank's target.

    • However, he added that more confidence in a sustained decrease in inflation is needed before starting the rate-cutting process.

    • The Federal Chairman's remarks come just a day ahead of the minutes of the Fed’s June meeting, providing more insight into the labour market with nonfarm payrolls data due on Friday.

    • Despite sticky inflation and high interest rates, the labour sector has been performing strongly. This is a key factor for the Fed when considering interest rate cuts.

    • Traders now see a 64% chance of a rate cut in September, up from about 61% last week, according to's Fed Rate Monitor Tool.

  3. Sector-Specific Movements:

    • The S&P 500 gained 0.7% to a record close of 5,510.65, marking the 32nd record close this year.

    • The Dow Jones Industrial Average rose 147 points, or 0.4%, while the NASDAQ Composite increased 0.7% to an all-time high of 18,029.18.

Other Asset Classes

  1. Treasury Yields:

    • On Tuesday, the treasury yields fell, with the yield on the benchmark 10-year Treasury note dropping nearly 5 basis points to about 4.428%.

  2. Currency:

    • The dollar slipped on Tuesday in choppy trading after Federal Chair Jerome Powell struck a slightly dovish tone, suggesting the US Fed is likely to start easing later this year. The dollar index was down around 0.2% at 105.74.

  3. Commodities:

    • US crude oil pulled back from a two-month high on Tuesday. WTI crude hit a high of $84.38 earlier in the session, the highest level since April 26, but closed lower at $82.81 per barrel. Brent rose to $87.46 earlier in the session, the highest level since April 30, before also settling lower.

    • Gold prices edged lower on Tuesday as Treasury yields remained firm. Investors digested comments from Federal Reserve Chair Jerome Powell and looked forward to US jobs data due later this week for more signals on US interest rate cuts. Spot gold was down 0.21% at $2,326.90 per ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets opened higher on Wednesday morning. Traders in Asia will assess June business activity data from India and China, set for release later in the day.

  2. Specific Index Performance:

    • Japan’s Nikkei 225 was up 0.84%, extending its run above the 40,000 mark, while the broad-based Topix rose 0.08%.

    • South Korea’s Kospi started the morning up 0.26%, while the Kosdaq Index increased by 0.5%.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nift suggests a gap-up opening for the Indian market, supported by expected strong gains in HDFC Bank and firm global cues.

    • After a positive opening, Nifty is expected to consolidate with a positive bias in the range of 24,100-24,350.

  2. Nifty Short-Term Outlook:

    • Benchmark indices traded within a range and closed flat. Nifty opened slightly higher but couldn't sustain its gains, closing 0.1% lower at 24123.85. Bank Nifty underperformed, closing 0.8% lower at 52168.10.

    • The broader market saw profit booking, with Nifty midcap and small cap indices down by 0.8% and 0.5%, respectively.

    • If the index holds above the current week low of 23980, the immediate bias remains positive, potentially extending the rally towards 24600 in the coming week.

    • Failure to hold above 23980 could result in consolidation within the 23600-24200 range in the coming weeks.

  3. Intraday Levels:

    • Nifty: Intraday resistance is situated at 24,300, followed by 24,390 levels. Conversely, downside support is located at 24,050, followed by 23,980.

    • Bank Nifty: Intraday resistance is positioned at 52,760, followed by 53,000, while downside support is found at 52,100, followed by 51,910.

    • Fin Nifty: Intraday resistance is positioned at 23,680, followed by 23,790, while downside support is found at 23,490, followed by 23,400.

Derivative Market Analysis

  1. Nifty:

    • The highest call option writing for Nifty is at 25000, followed by 24500, with immediate resistance at 24300.

    • If Nifty crosses 24300, it could rally towards 24500.

    • The highest put writing is at 24000, followed by 23500, and a drop below 24100 could trigger profit booking towards 24000-23800 levels.

    • Option chain analysis highlights important resistance at 24500 and support at 24000.

    • Significant call writing at the 24200 ATM strike indicates market stiffness.

    • The Nifty put-call ratio has decreased by 0.06 to 1.15.

  2. Bank Nifty:

    • The highest call writing for Bank Nifty is at the 53000 level, followed by 54000, indicating strong resistance at 52500 due to significant call OI addition.

    • If the 52500 level is breached, the next resistance will be at 53000.

    • The highest put writing is seen at 52000, followed by 51000.

    • Option chain analysis suggests that 52500 is a crucial resistance, and breaking it could push the index to 53000.

    • Similar to Nifty, Bank Nifty has experienced heavy call writing at various strikes, indicating limited upside potential.

    • The Bank Nifty put-call ratio has decreased by 0.16 to 0.75.

Stay on top of the latest market news with Bajaj Broking’s insights. Our point-to-point expert analysis digs deep into the surface, empowering you with a unique perspective on domestic and global stock market events. Get all the current share market news, including US share market updates in one place and make wise investment decisions.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here:

Share this article: 

Frequently Asked Questions

What exactly is the stock market, and how does it work?

Answer Field

The stock market is a platform where investors buy and sell shares of publicly traded companies. It operates through stock exchanges, where supply and demand for securities determine prices.

Why should I consider investing in the stock market?

Answer Field

Investing in the stock market offers the potential for long-term wealth growth, dividend income, portfolio diversification, and ownership stakes in successful companies.

How can I start investing in the stock market?

Answer Field

To begin investing in stocks, individuals can open a brokerage account, conduct research on companies and industries, and start building a diversified portfolio aligned with their investment goals and risk tolerance.

What factors should I consider before investing in stocks?

Answer Field

Important factors to consider include investment goals, risk tolerance, time horizon, market research, diversification, and staying informed about economic and market trends.

What are the risks associated with stock market investments?

Answer Field

Risks include market volatility, liquidity risk, company-specific risks, and the potential for loss of capital. It's essential for investors to assess their risk tolerance and diversify their portfolios accordingly.

How do I stay informed about daily market happenings?

Answer Field

You can stay informed by monitoring financial news websites, market analysis reports, earnings announcements, economic indicators, and utilising real-time market data provided by reliable brokerage platforms.

What is the difference between long-term investing and trading in the stock market?

Answer Field

Long-term investing involves holding stocks for extended periods, typically years or decades, with a focus on capital appreciation and dividend income. Trading involves buying and selling stocks more frequently, often based on short-term price movements.

How can I mitigate risks in the stock market?

Answer Field

Risk mitigation strategies include diversifying your portfolio, setting stop-loss orders, conducting thorough research, avoiding over-leveraging, and maintaining a long-term perspective on investments.

Are there any specific tax implications associated with stock market investments?

Answer Field

Yes, tax implications vary depending on factors such as investment duration, type of account (e.g., taxable brokerage account, retirement account), and realised gains or losses from selling stocks.

Can I invest in the stock market with a small amount of capital?

Answer Field

Yes, many brokerage platforms offer fractional investing or allow investors to purchase partial shares, enabling individuals with limited capital to start investing in the stock market with smaller amounts.

No Result Found

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users


4.3+ App Rating


4 Languages


₹4300 Cr MTF Book