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Share Market Today | Gift Nifty Signals Flat To Positive Opening For Market

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Synopsis:

Today’s share market features how CRISIL upgrades Federal Bank’s fixed deposit rating to AAA/Stable. Antony Waste’s arm secures ₹908 crore contract. CG Power enters semiconductor design. RKEC Projects wins ₹186 crore contract. Lupin receives 5 US FDA observations at its Pune facility.

Latest Market News

1. CRISIL upgrades rating on the fixed deposits of FederalBank to ‘AAA/Stable’ from ‘AA+/Positive.

2. ⁠Antony Waste Handling: Arm AG Enviro Infra Projects gets a contract worth ₹908 cr from Navi Mumbai Municipal Corporation.

3. ⁠CGPower acquires radio frequency components business from #Renesas, marking its foray into semiconductor design.

4. ⁠RKECProjects gets an order worth Rs 186 cr from Maharashtra Maritime Board.

5. ⁠Lupin: US FDA issued 5 observations at the company’s Pune facility, the inspection was carried out from September 25, 2024, to October 4, 2024.

LUPIN LIMITED

Trade

2119.85-30.54 (-1.42 %)

Updated - 12 December 2024
2159.25day high
DAY HIGH
2110.60day low
DAY LOW
652699
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • The Dow closed at fresh record highs on Friday as a stronger-than-expected jobs report underscored the strength in the U.S. economy, blunting worries about a potential recession. US employment growth was far stronger than expected in September, with nonfarm payrolls rising by 254,000 jobs last month.

    • Focus this week was squarely on more signals from the Fed, with a slew of officials set to speak in the coming days. 

    • Their addresses come before the minutes of the Fed's September meeting, which are due on Wednesday. The Fed had cut rates by 50 bps during the meeting and marked the start of an easing cycle.

  2. Sector-Specific Movements:

    • The Dow Jones Industrial Average rose 341 points or 0.8% to a closing record of 42,352.75. The S&P 500 closed 0.9% higher and NASDAQ Composite added 1.2% in Friday's session.

    • The market will also keep a close watch on the Geopolitical tension in the Middle East.

  3. Economic Indicators:

    • The healthy jobs market eased concerns about an economic slowdown but also blunted the prospect of another big interest rate cut at the Federal Reserve's November meeting.

    • Consumer price index inflation data for September is due later this week and is likely to factor into expectations for the path of U.S. interest rates.

Other Asset Classes

  1. Treasury Yields:

    • U.S. Treasury yields jumped Friday as investors digested a better-than-expected September jobs report. The 10-year Treasury yield rose around 12 basis points to 3.971%.

  2. Currency:

    • The US Dollar Index Futures was up 0.48% at 102.24. 

  3. Commodities:

    • U.S. crude oil on Friday posted its biggest weekly gain in more than a year, as traders fear Israel could strike Iran’s crude facilities in retaliation for Tehran’s ballistic missile attack.

    • The U.S benchmark West Texas Intermediate surged 9.09% last week at 74.38 per barrel.

    • Gold prices fell on Friday after a stronger-than-expected U.S. jobs report boosted the dollar and caused analysts to scale back expectations of an aggressive rate cut from the Federal Reserve next month. Spot gold was down 0.3% at $2,647.52 per ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets mostly climbed on Monday, led by Japan’s Nikkei 225 gaining 2% as investors look ahead to a week of central bank decisions from around the region.

  2. Specific Index Performance:

    • Three central banks are set to release their interest rate decisions this week, namely the Bank of Korea, the Reserve Bank of New Zealand and the Reserve Bank of India.

    • South Korea’s Kospi was the only outlier, falling 0.28%, while the small-cap Kosdaq was up 0.37%.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a flat to positive opening for the Indian market amid a pullback in the global equity market. Volatility is likely to remain high we expect the Nifty spot to consolidate in today's session in the range of 25300-24800.

  2. Market in Previous Session:

    • Indian equity market closed lower for the fifth consecutive session on Friday amid geo-political tension coupled with heavy FII selling activity in Indian equities. India VIX, which is an indicator of market volatility, closed at 14.12, up 7.21 per cent. Nifty traded with high volatility as it gave up its gains of the first half and closed the session deep in the red. 

    • Sensex was down 808 points or 0.98% to close at 81,688 and Nifty was down 235 points or 0.93% to close at 25,014 on Friday's session.

    • Among the sectoral indices, Auto, Finance, pharma, FMCG, metal, realty, energy and services were the major laggards. Only IT and PSU bank indices closed in the green. The broader market also witnessed a sharp decline as the Nifty Midcap and Small cap closed lower by 0.93% and 1.02% respectively.

  3. Nifty Short-Term Outlook:

    • The index has formed a bear candle with a long upper shadow. It maintained a lower high and lower low. Nifty on Friday’s session despite initial pullback witnessed a sharp decline from the 20-day EMA and the recent trendline breakdown area signaling corrective bias.

    • Going ahead, a follow-through weakness will open downside towards 24750 and 24350 levels in the coming week being the 61.8% and 80% retracement of the previous major up move (23893-26277).

    • Index on a pullback will face stiff resistance at 25500-25700. The immediate bias remains below the same. However, the daily stochastic is at an oversold territory, hence index holding above September low (24750) on a closing basis can lead to a technical pullback in the coming sessions. 

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,170 followed by 25,280 levels. Conversely, downside support is located at 25,870, followed by 24,750.

    • Bank Nifty: Intraday resistance is positioned at 51,840, followed by 52,050, while downside support is found at 51,130, followed by 50,900.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI addition has been observed at the 26,000 level, whereas immediate call OI addition is noted at the 25,200 and 25,400 levels, which will act as immediate resistance. 

    • On the other hand, major put OI is noted at the 24,500 level, with additional OI observed at the 24,800 level, which will serve as support for Nifty. 

    • According to the option chain, put writers are shifting positions to lower levels, suggesting caution for a potential downside movement. The broader range for Nifty in the coming week is between the 24,800 and 25,400 levels. 

    • The Nifty put-call ratio declined by 0.19 and is now positioned at 0.69.

  2. Bank Nifty:

    • The highest call OI has been observed at the 53,000 level, with a major addition in call OI noted at the 52,000 level, which will act as immediate resistance. 

    • On the flip side, significant addition by put writers has been observed at the 50,500 level, while immediate put OI is noted at the 51,000 level, which will act as immediate support. 

    • According to the option chain, the broader range for Bank Nifty is between the 50,500 and 52,000 levels, and the index is likely to trade within this range. 

    • The Bank Nifty put-call ratio declined by 0.11 and is now positioned at 0.59.

  3. Micap Nifty:

  • Across the strikes, call writers are active above the 12,900 level, with the highest OI addition noted at the 13,000 level, suggesting immediate resistance. 

  • On the other hand, major put OI has been observed at the 12,500 level, with immediate put OI noted at the 12,700 level, which will act as support for the weekly expiry. 

  • According to option chain analysis, the immediate range for the weekly expiry is between the 12,700 and 13,000 levels, and Midcap Nifty is likely to trade within this range.

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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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.

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

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

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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.

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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?

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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.

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

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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.

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

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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?

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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.

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