Notification
No new Notification messages
Khyati Global Ventures IPO is Open!
Apply for the Khyati Global Ventures IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.
Trade Now, Pay Later with up to 4x Leverage
Never miss a good trading opportunity due to low funds with our MTF feature.

Share Market Today | Gift Nifty hints at gap up as Nifty eyes consolidation

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Today’s share market features the Cabinet’s approval of major projects, including a ₹70,125 crore rural road scheme and a ₹12,461 crore hydropower project. RouteMobile and Honasa see significant stake changes, while FIIs net buy ₹1,755 crore. NBCC and MapmyIndia announce key collaborations.

Latest Market News

  1. Cabinet approves ₹70,125 crore outlay for PM rural road scheme.

  2. RouteMobile promoter Proximus Opal to sell 6.03% stake via OFS on Sept 12-13.

  3. Honasa consumers’ 8.1% Equity Worth Rs 1,260.7 Cr Likely to Change Hands Via Block Deals At Rs 480/sh floor price.

  4. ⁠FAME to be replaced by PM E-Drive as cabinet mulls ₹10,900 cr EV push.

  5. GE T&D bags order worth €55 m from Grid Solutions Middle East FZE, Dubai.

  6. ⁠Cabinet approves 31,350 mw hydropower project with Rs 12,461 cr outlay.

  7. ⁠NBCC collaborates with MTNL to develop 13.88 acres of land parcel in New Delhi. The project is valued at ₹1,600 cr.

  8. ⁠MapmyIndia partners with Zoomcar, the collaboration enables users to book a Zoomcar while getting their trips planned with the Mappls App.

  9. ⁠FIIs net buy ₹1,755 crore & DIIs net buy ₹230.90 crore in equities.

NBCC (INDIA) LIMITED

Trade

170.57-9.61 (-5.33 %)

Updated - 03 October 2024
177.80day high
DAY HIGH
152.25day low
DAY LOW
13944079
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • US benchmark indices traded with high volatility as it cut losses on Wednesday, as an Nvidia-led rally in tech offset falling bets on a large-sized Federal Reserve interest rate cut next week after data showed core inflation ticked higher last month.

  2. Sector-Specific Movements:

    • NVIDIA Corporation climbed more than 8% as the U.S. government is mulling whether to lift a ban that would allow the chipmaker to export advanced chips to Saudi Arabia. The surge in Nvidia pushed other chip stocks as well as the broader tech sector higher. 

    • The 30-stock Dow gained 124.75 points, or 0.31%, after losing as much as 743.89 points earlier in the session. 

    • The Nasdaq Composite closed 2.17% higher, making a comeback from a decline of more than 1%. The S&P 500 ended the day higher by 1.07%.

    • Wall Street is anticipating the release of the August producer price index on Thursday. Initial jobless claims data for the week ending Sept. 7 is also expected to be released in today's session.

  3. Economic Indicators:

    • Headline US consumer prices rose by 0.2% on a monthly basis in August, matching July's rate, but the core figure accelerated slightly, potentially denting the chances that the Federal Reserve will introduce a more aggressive cut to interest rates at its upcoming policy gathering.

Other Asset Classes

  1. Treasury Yields:

    • Treasury yields gained on Wednesday as Wall Street assessed a mixed consumer price index report and its implications for the Federal Reserve’s rate move next week. 

    • The yield on the 10-year Treasury was less than 1 basis point higher at 3.652%.

  2. Currency:

    • The U.S. dollar was mixed overall on Wednesday in choppy trading. the dollar index was 0.1% higher on the day at 101.72.

  3. Commodities:

    • U.S. crude oil rebounded more than 2% on Wednesday, regaining some ground after prices closed at the lowest level in nearly three years in the previous session. 

    • Brent November contract: $70.61 per barrel up by 2.05%.

    • Gold prices fell on Wednesday as the dollar and Treasury yields firmed after U.S. inflation data prompted investors to scale back expectations of an oversized rate cut from the Federal Reserve next week. Spot gold was down 0.1% at $2,513.19 per ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets opened higher on Thursday, tracking gains on Wall Street after a volatile session spurred by inflation data.

  2. Specific Index Performance:

    • Japan’s Nikkei 225 jumped 3% in early trading and the broad-based Topix advanced 2.48%. 

    • In South Korea, the Kospi opened 1.2% higher and the small-cap Kosdaq gained 2.5%.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a gap up opening for the Indian market amid firm global cues. 

    • Nifty spot post a strong opening is likely to consolidate with positive bias in the range of 25,200-24,850

  2. Market in Previous Session:

    • Benchmark indices snapped a two-session up move and closed lower amid profit booking ahead of key U.S. inflation data that could influence the size of a likely U.S. rate cut next week. 

    • The Sensex was down by 398 points or 0.49% at 81,523 and the Nifty was down by 122 points or 0.49% at 24,918.

    • The Bank Nifty also traded with corrective bias in the weekly expiry session and closed lower by 0.51% at 51010.  

    • The broader market consolidated in a range amid stock-specific action. Auto, Financial, Metal, Realty and Media stocks were the major draggers, whereas the FMCG stocks were the gainers. 

  3. Nifty Short-Term Outlook:

    • The index has formed a bear candle which mostly remained enclosed inside the previous session's high-low range signaling consolidation amid stock-specific action.

    • Going ahead, we expect the index to extend and consolidate in the range of 24500-25300 thus forming a base for the next leg of up move. Only a breakout above 25300 will open further upside towards 25550 in the coming weeks.

    • We believe one should accumulate quality stocks in the current consolidation. Nifty has key support placed at 24500-24400 levels being the confluence of the 50-day EMA and the 61.8% retracement of the ongoing rally (24100-25333).

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,120 followed by 25,200 levels. Conversely, downside support is located at 24,880, followed by 24,750.

    • Bank Nifty: Intraday resistance is positioned at 51,390, followed by 51,650, while downside support is found at 51,950, followed by 50,680.

    • Fin Nifty: Intraday resistance is positioned at 23,740, followed by 23,890, while downside support is found at 23,530, followed by 23,440.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI is positioned at 25000 followed by the 25500 level, whereas the highest put OI is positioned at 24500 followed by the 24700 level. Call writing above 25000 is quite heavy indicating limited upside. 

    • Call writers were active above 25000 indicating stiff resistance at higher levels. If 25000 is broken on the upside, Nifty can march towards 25500. On the lower end, important support is placed at the 24700 level.

    • According to option chain analysis, a broader range for Nifty is 24500 and 25000.

    • The Nifty put-call ratio decreased by 0.19 and is now positioned at 0.88.

  2. Bank Nifty:

    • The highest put OI concentration stands at 51000 level whereas the highest call OI concentration is at 51500 level. If the index slips below 51000, it can march towards 50500 level. 

    • Call writers are active between 51000 and 51500 indicating limited upside. A strong straddle formation is seen at 51000 which makes it a crucial level to watch for.

    • According to the option chain analysis, a broader range for Bank Nifty is 51000 and 51500. 

    • The Bank Nifty put-call ratio decreased by 0.05 and is now positioned at 0.85.

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.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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.

No Result Found

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs + Users

icon-with-text

4.8+ App Rating

icon-with-text

4 Languages

icon-with-text

₹5000+ Cr MTF Book

icon-with-text