Share Market Update | April 12, 2024

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Overview

In today's rapidly changing financial landscape, staying informed about the latest share market news is crucial for anyone involved in investing or trading. Our latest blog post is designed to do just that. We provide a detailed look into today's developments in the Indian share market, capturing the pulse of the market's dynamics. From major players to key stock movements, our deep dive ensures you have a comprehensive understanding of the day's events, keeping you ahead in the stock market game. 

Latest Market News

  • NTPC Green IPO: NTPC Green has engaged four prominent investment banks to manage its upcoming Initial Public Offering (IPO), aiming to raise approximately ₹10,000 crore to fund its expansion plans.

  • Vodafone Idea FPO: Vodafone Idea announced it will launch a Follow-on Public Offer (FPO) on April 18, seeking to raise up to ₹18,000 crore to strengthen its capital structure.

  • Oil Market Dynamics: Oil prices have remained near six-month highs due to ongoing tensions in the Middle East, impacting global oil supply perceptions.

  • Tax Policy Revision: The Indian government has terminated tax relief for Foreign Portfolio Investors (FPIs) from Mauritius following a revision of the tax treaty between the two countries, impacting investment flows.

  • Maharashtra Seamless Contract: Maharashtra Seamless has secured a ₹674 crore contract from Oil and Natural Gas Corporation (ONGC) to supply casing seamless pipes, indicating significant business growth.

  • PVR Inox Expansion: PVR Inox has inaugurated a 14-screen megaplex at the Phoenix Mall of Asia in Bengaluru, enhancing its entertainment offerings and market presence in the region.

  • Uno Minda Investment: Uno Minda has announced plans to invest ₹542 crore in a new greenfield alloy wheel manufacturing plant in Haryana, aiming to expand its production capabilities and market reach.

  • Market Investments: Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) were active in the market, with FIIs purchasing equities worth ₹2,778.17 crore and DIIs buying ₹163.36 crore, reflecting robust investment interest in Indian equities.

Global Market Insights

  • Treasury Yields and Equity Indexes: On Wednesday, U.S. Treasury yields surged while equity indexes fell following data that showed U.S. consumer prices in March rose more than expected, which reduced hopes for near-term Federal Reserve rate cuts.

  • Producer Price Index: On Thursday, the global equities index experienced a slight increase after U.S. producer prices for March rose less slowly than anticipated, indicating a deceleration in the cost of services offset by falling goods prices.

  • Federal Reserve Rate Expectations: Market expectations for Federal Reserve actions shifted, with the probability of rates remaining unchanged in June dropping from 83.5% to 76% and for July from 57.6% to just over 51%, as per CME Group's FedWatch tool.

  • Wall Street Movement: Minor declines and gains characterized Wall Street on Thursday, with the Dow Jones Industrial Average slightly down, while the S&P 500 and Nasdaq Composite recorded gains.

  • IT Sector Performance: Notably, IT stocks, especially Apple, Nvidia, and Amazon, saw significant gains after reports on new AI-focused chips, with Apple's stock jumping 4.3%.

  • Futures and Anticipated Earnings: Stock futures remained stable as markets anticipated earnings reports from major U.S. banks including JPMorgan Chase, Wells Fargo, and Citigroup.

  • U.S. Treasury Yields: After initial data releases, yields on U.S. Treasuries continued to rise, with two-year yields surpassing 5% for the first time since November.

  • Currency Fluctuations: The dollar index showed a slight increase despite the weaker-than-expected producer price data, indicating ongoing concerns about persistent inflation.

  • Oil and Gold Prices: Oil prices dipped slightly amid inflation concerns, while gold prices increased, buoyed by inflation data and persistent geopolitical tensions.

  • Asian Market Trends: Asian-Pacific markets showed mixed responses, with varying performances in major indexes following an inflation-driven selloff.

  • Market Outlook for Nifty: The Nifty index is expected to open negatively, reflecting global market weakness, and may consolidate with a corrective bias in the range of 22550-22750.

  • Intraday Levels and Derivative Data: Detailed intraday resistance and support levels for Nifty, Bank Nifty, and Fin Nifty were provided, along with derivative data analysis indicating potential trading ranges based on current market sentiment.

  • Corporate News and Developments: Key corporate announcements included upcoming IPOs, financial offerings, and operational expansions by companies like NTPC Green, Vodafone Idea, and Uno Minda.

Stay informed with Bajaj Broking’s share market update, where we bring you not just the numbers, but the stories behind the figures. Explore the nuances of the Indian share market latest news, and equip yourself with knowledge to make informed decisions in the ever-evolving financial markets.

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.

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