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Share Market Today | Gift Nifty Hints At Flat Start; Markets In Range-Bound Trend

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Synopsis:

Today’s share market features how M&M revises FY25 tractor growth to 6-6.8%, Tata Power partners with Noida Airport for ₹550 cr renewable energy project, MOIL’s October manganese output rises 32%, FOMC cuts rate, FIIs net sell ₹4,888.77 cr in equities.

Latest Market News

1. M&M co says tractor growth outlook for FY25 is raised to 6-6.8% from 5%.

2. ⁠Tata Power & Noida International Airport partner for Solar and Wind Power. Tata Power to invest ₹550 cr in solar & wind power supply.

3. ⁠MOIL October Update - Production of 1.47 lakh tonnes of Manganese Ore, up 32% (YoY).

4. ⁠FOMC cuts target rate by 25 bps as expected to 4.5 - 4.75%.

5. ⁠FIIs net sell ₹4,888.77 cr while DIIs net buy ₹1,786.70 cr in equities yesterday.

MAHINDRA & MAHINDRA LTD

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3027.310.90 (0.36 %)

Updated - 03 December 2024
3041.70day high
DAY HIGH
2987.65day low
DAY LOW
2308865
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • The Nasdaq Composite and the S&P 500 stretched their record closing runs on Thursday as the Federal Reserve lowered interest rates by 25 basis points.

  2. Sector-Specific Movements:

    • The technology-heavy Nasdaq jumped 1.5% to 19,269.5, while the S&P 500 rose 0.7% to 5,973.1. The Dow Jones Industrial Average was flat at 43,729.3, following a record close in the previous session. Among sectors, communication services and tech led the gainers Thursday, while financials saw the steepest decline.

    • The central bank's Federal Open Market Committee reduced its benchmark lending rate to a range of 4.50% to 4.75%, in line with a Bloomberg-compiled consensus.

  3. Economic Indicators:

  • In economic news, weekly applications for unemployment insurance in the US rose for the first time in four weeks, while continuing claims reached the highest level since November 2021.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year yield fell 10 basis points to 4.33%, while the two-year rate dropped 7.3 basis points to 4.2%.

  2. Currency:

    • The dollar index ticked up 0.03% to 104.44, on track to gain just above 0.1% for the week.

  3. Commodities:

    • West Texas Intermediate crude rose 0.5% to $72.1 a barrel whereas Brent crude oil futures rose 0.6% to $75.4 per barrel.

    • Gold was up by 1.5% to $2,715.30 per troy ounce, while silver gained 2.5% to $32.11 per ounce.

Asian Markets

  1. General Trends:

    • Asian equities climbed Friday after stocks, bonds and commodities all rallied in the US as the Federal Reserve cut interest rates.

  2. Specific Index Performance:

    • Australian and Japanese shares advanced along with Hong Kong futures.

    • Japan's benchmark Nikkei average opened up 1.02% at 39,783.45 on Friday, while the broader Topix gained 0.61% at 2,759.80.

    • S&P/ASX 200 Index surged 1% to above 8,300 on Friday, reaching an over two-week high.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a flat opening for the Indian markets and is likely to consolidate in the broad range of 23,940 - 24,500.

  2. Market in Previous Session:

    • Indian benchmark indices gave up gains from the last two sessions, snapping a two-day winning streak as selling pressure emerged across sectors. Investors were cautious ahead of the Federal Open Market Committee (FOMC) decision.

    • At close, the Sensex was down 836.34 points or 1.04 per cent at 79,541.79, and the Nifty was down 284.70 points or 1.16 per cent at 24,199.30.

    • All the sectoral indices ended in the red with auto, metal, power, telecom, pharma, and realty down 1-2 per cent.

    • BSE Midcap and smallcap indices shed 0.5 per cent each.

  3. Nifty Short-Term Outlook:

    • The index seems to respect this range of 23,800- 24,500 since the last few sessions & it is clearly visible that 24,500 remains the near-term hurdle.

    • As long as the index stays below this level, the consolidation may continue, with support at the 24,000 level. 

    • A long bearish candlestick pattern appeared on the daily charts in yesterday's session, suggesting further weakness is possible.

    • The near term resistance stays around 24,500 followed by 24,750 levels and has its short-term supports placed near 24,000 levels. A breach of this support can lead to further correction towards 23,500 levels.    

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 24,292 followed by 24,405 levels. Conversely, downside support is located at 24,081, followed by 23,968.

    • Bank Nifty: Intraday resistance is positioned at 52,278, followed by 52,640, while downside support is found at 52,653, followed by 51,390.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI is positioned at 24500 followed by the 25000 level, whereas the highest put OI is positioned at the 24200 level followed by the 23500 level. 

    • The highest call OI addition was seen at 24500 indicating stiff resistance at a higher level. A straddle formation was seen at 24200 making it an important level to watch for. 

    • According to option chain analysis, a broader range for Nifty is 24000 and 24500. 

    • The Nifty put-call ratio is now positioned at 0.90.

  2. Bank Nifty:

    • The highest call OI is positioned at 53000 followed by the 52500 level, whereas the highest put OI is positioned at 52000 followed by the 51500 level. We also saw a straddle formation at 52000 making it a crucial level to watch for. 

    • The highest call OI addition was seen at 53000 indicating stiff resistance at a higher level. A straddle formation was seen at 52000 making it an important level to watch for. 

    • According to option chain analysis, the broader range for Bank Nifty is 51500 and 52500.

    • The Bank Nifty put-call ratio is now positioned at 0.79.

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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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.

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