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Share Market Today | GIFT Nifty Flat, Asian Peers Trade Positive

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Synopsis:

Share market news today features NSE’s discontinuance of weekly expiry of Fin Nifty, Bank Nifty, and Midcap from November 20, Exide Industries’ new ₹100 crore lithium-ion battery plant in Bengaluru, Mazagon Dock’s ₹121.7 crore AI-based projects in Maharashtra, plus FII-DII activities.

Latest Market News

  1. NSE will stop the weekly expiry of Fin Nifty, Bank Nifty, and Midcap from November 20, with weekly expiry available only on Nifty, following a SEBI circular.

  2. Exide Industries has invested ₹100 crore in EESL to set up a lithium-ion battery plant in Bengaluru.

  3. Mazagon Dock has secured a ₹121.7 crore order in Maharashtra for AI-based projects.

  4. JSW Steel has partnered with BHP and Carbon Clean to make steel production more environmentally friendly.

  5. Infosys is collaborating with Zooplus to boost digital transformation and enhance e-commerce capabilities.

MAZAGON DOCK SHIPBUIL LTD

Trade

4849.9-105.85 (-2.13 %)

Updated - 13 December 2024
4972.20day high
DAY HIGH
4741.30day low
DAY LOW
2035401
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • US benchmark equity indexes fell on Thursday after official data showed that consumer inflation increased at a higher-than-projected pace in September.

  2. Sector-Specific Movements:

    • The S&P 500 dropped 0.2% to 5,780.1, while the Dow Jones Industrial Average lost 0.1% to 42,454.1, both retreating from Wednesday's record closings.

    • The Nasdaq Composite decreased by 0.1% to 18,282.1.

    • Among sectors, real estate saw the steepest decline, while energy led the gainers.

  3. Economic Indicators:

    • In economic news, the US consumer price index increased by 0.2% last month, the same as in July and August, according to the Bureau of Labor Statistics.

    • The latest reading was ahead of the 0.1% forecast in a Bloomberg-compiled survey.

    • Annually, inflation cooled to 2.4% from August's 2.5% but remained above the 2.3% Wall Street consensus.

    • The official US producer prices report for September is scheduled to be released on Friday.

Other Asset Classes

  1. Treasury Yields:

    • The US two-year yield fell 5.1 basis points to 3.97% on Thursday, while the 10-year rate was little changed at 4.07%.

  2. Currency:

    • The dollar index fell by 0.03% to 102.85.

  3. Commodities:

    • West Texas Intermediate crude oil jumped 3.3% to $75.63 a barrel, while Brent crude oil futures rose by 3.7%, settling at $79.40 per barrel.

    • Gold rose 0.9% to $2,648.60 per troy ounce, while silver surged 2.4% to $31.39 per ounce.

Asian Markets

  1. General Trends:

    • Japanese and South Korean stocks opened higher, while Australian stocks slipped.

  2. Specific Index Performance:

    • The Nikkei 225 Index climbed 0.5% to above 39,500 on Friday, rising for the third straight session and reaching its highest levels in two weeks.

    • The broad-based Topix Index also gained 0.3% to 2,720.

    • The S&P/ASX 200 Index fell by 0.2% to around 8,208, with heavyweight mining and financial stocks leading the market lower.

    • Hong Kong markets are closed for a holiday on Friday.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a flat opening for Indian markets and is likely to consolidate within the broad range of 24,800 - 25,300.

  2. Market in Previous Session:

    • Indian equities started the day on a positive note, extending morning gains but failing to sustain momentum, remaining range-bound for the remainder of the session.

    • Both benchmark indices ended flat, with the Nifty closing at 24,998.45, up 16.50 points, and the Sensex at 81,611.41, up 144.31 points.

    • Sector performance was mixed, with Bank Nifty emerging as the top gainer, followed by Metals, while IT and Pharma recorded the largest declines.

    • The midcap index was down 0.3%, while the small-cap index increased by 0.4%.

  3. Nifty Short-Term Outlook:

    • The index has formed a small bear candle, which remained enclosed within the previous session's price range, signalling continued consolidation for the second session in a row.

    • During the current week, the index rebounded from the September lows amid an oversold reading on the daily stochastic.

    • We expect the index to extend its three-session pullback and move higher towards the 25,250 - 25,500 levels in the coming sessions.

    • On the higher side, key resistance is placed at 25,500 - 25,700, the gap-down area from last Thursday, and the 61.8% retracement of the previous decline (26,277 - 24,694).

    • The short-term bias remains down below these levels. Key support is placed at 24,700 - 24,800. A breach below these levels will signal an extension of last week's decline.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,200, followed by 25,340 levels. Conversely, downside support is located at 25,080, followed by 24,960.

    • Bank Nifty: Intraday resistance is positioned at 51,850, followed by 52,200, while downside support is found at 51,180, followed by 51,040.

    • Fin Nifty: Intraday resistance is at 24,050, followed by 24,200 levels. Conversely, downside support is located at 23,700, followed by 23,480.

Derivative Market Analysis

  1. Nifty:

    • For Nifty, the highest call OI is at the 26,000 level, followed by 25,000, while the highest put OI is at 25,000, followed by 24,500.

    • A significant increase in call OI between 25,000 and 25,500 suggests strong resistance at higher levels.

    • A straddle is forming at 25,000, meaning if Nifty holds above this level, it could rise to 25,500, but if it breaks, it may fall to 24,500.

    • The broader range for Nifty is between 25,000 and 25,500, with a put-call ratio currently at 0.93.

  2. Bank Nifty:

    • For Bank Nifty, the highest call OI is at 52,000, followed by 53,000, while the highest put OI is at 51,000, followed by 50,000.

    • A significant addition of put OI between 51,000 and 51,500 shows strong support at lower levels.

    • Call writers are active above 51,900, indicating resistance.

    • The broader range for Bank Nifty is between 51,000 and 52,000, with the put-call ratio positioned at 1.04.

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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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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