BAJAJ BROKING

Notification
No new Notification messages
Inventurus Knowledge Solutions IPO is Open!
Apply for the Inventurus Knowledge Solutions IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Share Market Today | GIFT Nifty Up, Nasdaq and Nikkei Hit ATH

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

0:00 / 0:00

Synopsis:

Today’s latest market updates feature Taneja Aerospace's ₹14.48 Cr order from BEL, Coal India and BHEL joint venture for coal gasification, GE T&D India's €26 mn order from Dubai’s Grid Solutions FZE, Brigade Enterprises's ₹1,100 Cr Bengaluru project, plus other global market news.

Latest Market News

  1. Taneja Aerospace wins a ₹144.8 million order from BEL.

  2. BHEL and Coal India form a joint venture for coal gasification.

  3. GE T&DIndia secures a €26 million order from Grid Solutions Middle East FZE in Dubai.

  4. Brigade Enterprises signs a joint development agreement for an 8-acre residential project in Bengaluru, valued at ₹1,100 crore.

  5. June North America Class 8 truck orders fall 33% month-over-month and 6% year-over-year to 13,100 units, hitting a 14-month low.

  6. FIIs net bought ₹5,483.63 crore in equities, while DIIs net sold ₹924.43 crore yesterday.

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

US Share Market News

  1. Performance Overview:

    • On Wednesday, the S&P 500 index and the tech-heavy Nasdaq hit record highs, boosted by data suggesting a slowing economy, raising hopes for a Federal Reserve interest rate cut in September.

    • The market will be closed on Thursday for US Independence Day, leading to thin trading volumes throughout the session.

  2. Economic Indicators:

    • The ADP Employment report and weekly jobless claims data indicated a softening labour market ahead of Friday's key non-farm payrolls report.

    • Investors are hopeful that signs of labour market weakness will prompt the Fed to cut interest rates.

    • The minutes from the Fed’s June meeting, released on Wednesday, showed officials acknowledged a cooling US economy but were not yet convinced to cut interest rates.

    • This came a day after Fed Chair Jerome Powell noted some progress in reducing inflation but emphasised the need for more confidence before trimming rates. Several Fed officials have echoed this sentiment recently.

  3. Sector-Specific Movements:

    • The Dow Jones Industrial Average fell 0.06%, closing at 39,308.00. The S&P 500 gained 0.51% to 5,537.02, while the Nasdaq Composite rose 0.88% to 18,188.30.

    • The Dow Jones Industrial Average ended slightly lower, dragged down by healthcare and consumer stocks, in a shortened session before the Fourth of July.



Other Asset Classes

  1. Treasury Yields:

    • On Wednesday, the 10-year US Treasury yield declined again after weak economic data. The yield on the 10-year Treasury fell over 8 basis points to 4.352%.

  2. Currency:

    • The dollar fell following softer-than-expected US economic data. The dollar index dropped 0.5% to 105.11, hitting a three-week low earlier in the session.

    • The yen hit a new 38-year low against the US dollar and a record low versus the euro, with markets on alert for possible intervention by Japan to support its currency.

  3. Commodities:

    • Crude oil futures rose over 1% on Wednesday, with a significant drop in US stockpiles signalling increased demand ahead of the Fourth of July. WTI’s August contract was up 1.29% at $83.88 per barrel, while Brent’s September contract was up 1.28% at $87.34 per barrel.

    • Gold prices climbed over 1% to nearly a two-week high on Wednesday, driven by growing expectations for a September interest rate cut by the Federal Reserve after recent US data pointed to a weakening labour market.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets rose Thursday morning, with Japan’s Topix surpassing its all-time high of 2,886.50, set in December 1989.

  2. Specific Index Performance:

    • The Topix increased by 0.56% in early trading, while the Nikkei 225 rose 0.55%.

    • South Korea’s Kospi gained 0.98%, and the Kosdaq was up 0.75%.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty indicates a positive opening for the Indian market amid strong global cues. The Nifty spot, after a strong opening, is likely to trade with a positive bias in the range of 24,450-24,210.

  2. Nifty Short-Term Outlook:

    • Benchmark indices hit all-time highs on Wednesday, with Sensex surpassing 80,000 and Nifty reaching 24,309 before closing at 24,286, up 0.67%.

    • Banking stocks, especially HDFC Bank, led the gains. Bank Nifty resumed its rise after four sessions of consolidation, hitting an all-time high of 53,256 and closing at 53,089, up 1.77%.

    • The broader market also performed well, with Nifty midcap and small-cap indices closing up 0.8% and 1%, respectively.

    • The index is expected to head higher toward 24,600, with immediate support above the weekly low of 23,990.

  3. Intraday Levels:

    • Nifty: Intraday resistance is situated at 24,420, followed by 24,490 levels. Conversely, downside support is located at 24,230, followed by 24,150.

    • Bank Nifty: Intraday resistance is positioned at 53,470, followed by 53,700, while downside support is found at 52,900, followed by 52,680.

    • Fin Nifty: Intraday resistance is positioned at 24,050, followed by 24,130, while downside support is found at 23,870, followed by 23,790.

Derivative Market Analysis

  1. Nifty:

    • Call writers are active above 24,300 and 24,500, indicating strong resistance due to the addition of call OI at these levels.

    • Below 24,200, put writers are active, showing strong support with the highest put OI at 24,000.

    • The Max Pain range is 24,200 to 24,350. Any movement beyond this range during today's Nifty weekly expiry could cause a sharp move in that direction.

    • The Nifty put-call ratio increased by 0.09 to 1.24.

  2. Bank Nifty:

    • For the new weekly expiry, the highest put OI is at 53,000, and the highest call OI is at 55,000, setting a broader range of 53,000 to 55,000.

    • The highest addition of put OI is at 53,000, while the highest addition of call OI is at 55,000, with the second-highest at 54,000.

    • If Bank Nifty does not stay above 53,000, the range may shift to 52,000-53,000.

    • The Bank Nifty put-call ratio increased by 0.40 to 1.15.

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: https://bit.ly/3Tcsfuc

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.

What are government bonds in India, and how do they work?

Answer Field

Government bonds in India serve as a financing tool for public initiatives, provided by the government. Investors buy these bonds, receiving fixed interest payments. They are a reliable option, offering security and predictable returns.

What are the benefits of investing in government bonds compared to other investment options?

Answer Field

Government bonds offer safety and stability, ideal for risk-averse investors. Compared to equities, they provide predictable returns, helping in portfolio diversification. Additionally, they are less volatile, making them suitable for long-term financial planning.

How can I buy government bonds in India, and what are the steps involved in the purchasing process?

Answer Field

To understand how to buy government bonds in India, investors can participate in Reserve Bank auctions, purchase through brokers, or invest in GILT mutual funds. A Demat account is necessary, followed by transaction completion on selected platforms.

What are the different types of government bonds available for investment in India?

Answer Field

India offers several government bonds, including treasury bills, sovereign gold bonds, and long-term bonds. Each type has distinct tenures and interest rates, catering to different investment needs, from short-term liquidity to long-term stability.

How do I determine the best government bonds to invest in India based on my financial goals?

Answer Field

Choosing the best government bonds to invest in India depends on individual goals. Short-term bonds offer liquidity, while long-term bonds provide stability. Consider factors like maturity, interest rates, and inflation protection for tailored investment decisions.

What factors should I consider when evaluating government bonds for investment?

Answer Field

Key factors include interest rates, inflation trends, and bond maturity. Evaluating these aspects helps in aligning bond choices with financial goals, especially for conservative portfolios. GILT mutual funds diversify risks across multiple government bonds.

How can I invest in government bonds through the online platform or through a broker?

Answer Field

Investors can invest in government bonds via online platforms, brokers, or banks. Online options facilitate participation in auctions and secondary markets, offering a streamlined process for how to invest in government bonds conveniently.

What are the tax implications of investing in government bonds in India?

Answer Field

Interest from government bonds is taxed according to the investor’s income bracket. However, some bonds may offer tax benefits. Understanding these implications helps optimise returns when considering how to invest in government bonds.

Are there any risks associated with investing in government bonds in India?

Answer Field

Although government bonds are low-risk, they are subject to interest rate fluctuations and inflation, which can impact returns. Understanding these risks is essential when considering how to invest in government bonds effectively.

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

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text