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Share Market Today | Gift Nifty Indicates Negative Opening For Indian Markets

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Synopsis:

Today’s share market features how FPIs offload $3 billion in Indian shares as oil prices surge due to Israel-Iran tensions. India launches ₹1.01 lakh crore farm schemes. Sundaram-Clayton opens QIP, BSE to end weekly derivatives. Avenue Supermarts reports strong Q2, FIIs net sell ₹15,243 crore.

Latest Market News

1. FPIs offload over $3 billion worth of Indian shares in three sessions.

2. ⁠Oil prices extend surge on concerns Israel may target Iran oil facilities.

3. ⁠India launches two farm sector schemes worth ₹1.01 lakh crore to boost agriculture.

4. ⁠Sundaram-Clayton opens QIP today, floor price at Rs 2,320.78/sh.

5. ⁠Cabinet approves 2 farm sector schemes (PM Rashtriya Krishi Vikas Yojana & Krishonnati Yojana )Worth ₹1.01 lk cr.

6. ⁠BSE Says Weekly index derivatives contracts on SENSEX 50 will be discontinued w.e.f Nov 14, 2024. Weekly index derivatives contracts on BANKEX will be discontinued w.e.f November 18, 2024.

7. ⁠AvenueSupermarts Q2 Business Update - Q2FY25 standalone revenue at ₹14,050.32 cr vs ₹12,307.72 cr (YoY). As of September 30, 2024, total number of stores stood at 377.

8. ⁠FIIs net sell ₹15,243.27 cr while DIIs net buy ₹12,913.96 cr in equities yesterday.

AVENUE SUPERMARTS LIMITED

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3708.3-108.59 (-2.84 %)

Updated - 11 December 2024
3760.00day high
DAY HIGH
3671.35day low
DAY LOW
1839723
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • U.S. stocks finished lower on Thursday ahead of Friday's monthly U.S. payrolls report and as investors kept a watchful eye on the growing conflict in the Middle East.

  2. Sector-Specific Movements:

    • Data on Thursday showed that the number of Americans filing new applications for unemployment benefits rose marginally last week.

  3. Economic Indicators:

    • The Dow Jones Industrial Average fell 0.44% to 42,011.59, the S&P 500 fell 0.17% to 5,699.94 and the Nasdaq Composite fell 0.04% to 17,918.48.

Other Asset Classes

  1. Treasury Yields:

    • Two-year Treasury yields were last up at 3.7095% on Thursday, while benchmark 10-year yields were last up at 3.853%.

  2. Currency:

    • The U.S. dollar index rose to a six-week high, reaching 102.09, the highest since Aug 19. 

  3. Commodities:

    • Brent crude futures settled up 5.03% at $77.62 a barrel. U.S. West Texas Intermediate (WTI) crude futures settled up 5.15% to $73.71.

    • Gold prices were flat as the U.S. dollar strengthened against major currencies. Spot gold fell 0.01% to $2,657.24 an ounce, while U.S. gold futures settled 0.4% higher at $2,679.2.

Asian Markets

  1. General Trends:

    • Mainland China markets are shut for a holiday.

  2. Specific Index Performance:

    • Japan's benchmark Nikkei average opened up 0.11% at 38,594.73 on Friday, while the broader Topix gained 0.16% at 2,687.94.

    • Australia's S&P/ASX 200 Index along with Hong Kong equity futures was down on the first tick.

    • S&P ASX200 fell 0.9% to around 8,130 on Friday, hitting an over one-week low, with mining and financial stocks leading the retreat.

    • Those moves came as US President Biden suggested that Israel could target Iranian oil facilities in retaliation for a recent missile attack, rattling financial markets globally.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a negative opening of for the Indian markets. Nifty spot after a negative opening is likely to consolidate in the broad range of 24,800 - 25,500.

  2. Market in Previous Session:

    • Indian equity indices experienced a sharp decline on October 3, dropping 2% to close lower for the fourth consecutive session, with the Nifty falling below 25,250 due to escalating geopolitical tensions between Israel and Iran.

    • By the close, the Sensex had fallen 1,769.19 points, or 2.10%, to 82,497.10, while the Nifty dropped 546.80 points, or 2.12%, to 25,250.10.

    • The market opened with a gap-down and continued to extend losses throughout the day, driven by widespread selling across sectors, including oil & gas, banking, auto, and realty, leading both the BSE Sensex and Nifty50 to break key support levels.

  3. Nifty Short-Term Outlook:

    • Index has formed a sizable bear candle with a lower high and lower low and a bearish gap above its head (25740- 25640) signalling corrective bias.

    • Nifty on the weekly expiry session closed sharply lower below the 25300 levels and in the process closed below the rising demand line joining lows of last two months.

    • A follow through weakness below 25200 will open downside towards key support area of 24800-24700 being the confluence of 50 days EMA and the previous major low of September 2024. 

    • Holding above 25200 can lead to some consolidation in the range of 25200-25750. Daily stochastic is at oversold territory, hence a pullback after last four sessions sharp decline cannot be ruled out. 

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,450 followed by 25,600 levels. Conversely, downside support is located at 25,080, followed by 24,960.

    • Bank Nifty: Intraday resistance is positioned at 52,450, followed by 52,800, while downside support is found at 51,500, followed by 51,200.

    • Fin Nifty: Intraday resistance is positioned at 24,250, followed by 24,320, while downside support is found at 23,600, followed by 23,480.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI addition has been observed at the 26,000 level, whereas the immediate call OI addition is placed at the 25,500 – 25,600 levels, which will act as resistance.

    • On the flipside, a major put OI addition has been placed at the 25,000 level, which will serve as crucial support for Nifty. Put writers have shifted to lower levels, suggesting caution for potential downside movement.

    • According to option chain analysis, the immediate range for Nifty is between 25,000 and 25,600 levels. A break on either side of this range will trigger a further directional move.

    • Nifty's put-call ratio has increased by 0.05 and is now placed at 0.88.

  2. Bank Nifty:

    • The highest put OI addition is placed at the 52,000 level, which will serve as immediate support for Bank Nifty. If the price holds below this level, it may trigger further correction toward 51,500.

    • On the other hand, major call OI has been observed at the 53,000 level, while the immediate call OI is noticed at the 52,500 level, which will serve as immediate resistance.

    • According to option chain analysis, the broader range for Bank Nifty is between 52,000 and 53,000 levels. A break on either side of this range may trigger a further directional move.

    • Bank Nifty's put-call ratio has declined by 0.08 and is now placed at 0.70.

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.

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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.

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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.

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Answer Field

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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?

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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.

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