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Share Market Today | GIFT Nifty Flat, US Markets Up, Asian Peers Mixed

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Synopsis:

Today’s latest market updates feature RVNL’s two projects worth ₹187.34 Cr from Nagpur Metro and ₹202.87 Cr from SE Railway, ONGC's ₹2 lakh crore net zero emission plan, Ashiana Housing's expansion, 0.9% stakesale in Mankind Pharma for ₹762.6 Cr, plus other global market news.

Latest Market News

  1. RVNL received a ₹187.34 crore project from Maharashtra Metro Rail Corporation Limited for Nagpur Metro.
  2. RVNL won a ₹202.87 crore project from South Eastern Railway as the lowest bidder.
  3. ONGC will invest ₹2 lakh crore to achieve its net zero emission target.
  4. Ashiana Housing plans to expand to Mumbai, Delhi NCR, and Bengaluru amid a real estate boom.
  5. Capital Group's affiliate, Hema CIPEF, will sell a 0.9% stake in Mankind Pharma for ₹762.6 crore via block deals.
  6. Canada Pension Plan Investment Board is likely to sell a 3.17% equity stake in Delhivery for ₹886 crore via a block deal.
  7. FIIs net bought ₹314.46 crore and DIIs net bought ₹1,416.46 crore in equities yesterday.

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

US Share Market News

  1. Performance Overview:
    • On Tuesday, the S&P 500 and Nasdaq Composite reached new record highs after Federal Reserve Chair Jerome Powell noted that inflation has improved recently, though more work is needed.
  2. Sector-Specific Movements:
    • The S&P 500 and the tech-focused Nasdaq each rose by 0.1%, closing at 5,577 and 18,429.3 respectively.
    • Meanwhile, the Dow Jones Industrial Average fell by 0.1% to 39,292.
    • Financials led the sector gains, while materials experienced the largest decline.

Other Asset Classes

  1. Treasury Yields:
    • On Tuesday, the US 10-year yield rose by 2.9 basis points to 4.30%, while the two-year rate increased by one basis point to 4.62%.
  2. Currency:
    • The dollar index was up 0.03% at 105.15.
  3. Commodities:
    • West Texas Intermediate crude oil dropped by 0.9% to $81.61 per barrel. Brent crude futures rose towards $84.87 per barrel.
    • Gold increased by 0.3% to $2,371 per troy ounce, while silver rose by 0.6% to $31.10 per ounce.

Asian Markets

  1. General Trends:
    • In Asia, investors will evaluate inflation data from China and Japan, with China releasing its June consumer and producer price data.
    • China's inflation is expected to rise slightly to 0.4%, up from 0.3% in May, while its PPI is forecast to decrease by 0.8%, a softer fall compared to May's 1.4% decline.
  2. Specific Index Performance:
    • Japan's Nikkei 225 slipped slightly from Tuesday's all-time high, while the broad-based Topix remained flat.
    • South Korea's Kospi fell by 0.25%, and the small-cap Kosdaq declined by 0.2%.
    • Australia's S&P/ASX 200 dropped by 0.28%.
    • Hong Kong's Hang Seng index futures were at 17,641, higher than the HSI's last close of 17,523.23.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty indicates a flat to positive start for the Indian market.
    • After a flat opening, Nifty spot is likely to consolidate with stock-specific action in the range of 24,000 to 24,500.
  2. Nifty Short-Term Outlook:

    • On July 9th, the benchmark indices closed positively, with levels at 24,433 (+0.46%) and 80,351 (+0.49%).
    • The auto index led gains, followed by FMCG, Pharma, Realty, and PSU banks, while IT was the only sector that lagged.
    • The midcap and small-cap indices rose by 0.3% and 0.2%, respectively.
    • The VIX increased by 3.3% to surpass 14.
    • The index is expected to consolidate with a positive bias and could move towards 24,600.
    • The immediate positive bias will persist if the index stays above the previous week's low of 23,990.
    • A close below 23,990 may lead to pressure, with potential drops to 23,800. IT shares, particularly TCS and HCL Tech, will be in focus as earnings season begins.
  3. Intraday Levels:

    • Nifty:

      Intraday resistance is at 24,480, followed by 24,550 levels. Conversely, downside support is located at 23,990, followed by 23,920.
    • Bank Nifty:

      Intraday resistance is positioned at 53,360, followed by 53,600, while downside support is found at 52,200, followed by 51,800.
    • Fin Nifty:

      Intraday resistance is positioned at 23,850, followed by 24,050, while downside support is found at 23,380, followed by 23,200.

Derivative Market Analysis

  1. Nifty:

    • The weekly expiry range remains broad with the highest put OI at the 24,000 level and the highest call OI at 25,000.
    • Significant put OI addition occurred at 24,400, while call OI unwinding was seen at 24,300, indicating positive sentiment.
    • Market participants expect Nifty to stay above 24,400.
    • The key range for the day is between 24,400 and 24,500, with a break on either side potentially triggering a directional move.
    • The Nifty put-call ratio increased by 0.10 to 1.28.
  2. Bank Nifty:

    • The highest put OI for Bank Nifty is at 51,000, and the highest call OI is at 53,000, forming a broad range.
    • Put OI additions were noted at 51,000 and 52,500, while call OI additions were seen at 52,500, 52,600, and 53,000.
    • This indicates potential resistance near 52,500 and 52,600, suggesting limited upside.
    • The immediate support is at 52,500.
    • The range for the day is between 52,500 and 53,000.
    • The Bank Nifty put-call ratio declined by 0.02 to 0.69.

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.

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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.

How can I start investing in the stock market?

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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.

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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?

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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?

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

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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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