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Share Market Today | GIFT Nifty Positive, Asian Peers Gain

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Synopsis:

Today’s latest market updates feature Vedanta's ₹6,400 Cr stake sale in Hindustan Zinc, Lemon Tree's new Varanasi hotel opening by FY 2028, L&T's $150 million MoUs with six auto clients, and Wipro's adoption of Google Cloud AI, plus other global market news.

Latest Market News

  1. Vedanta plans to sell a 2.6% stake in Hindustan Zinc through an OFS, valued at ₹6,400 crore.

  2. Lemon Tree Hotels has signed a new property, Keys Select by Lemon Tree Hotels in Varanasi, which will be franchised and is expected to open by FY 2028.

  3. L&T Semiconductor plans to sign six auto companies as clients, aiming for $150 million in annual MoUs and $1 billion in revenue within seven years.

  4. Wipro adopts Google Cloud AI, including Gemini, to enhance innovation and productivity through its FullStride Cloud Studio platform.

  5. FIIs sold ₹2,107.17 crore in equities, while DIIs bought ₹1,239.96 crore yesterday.

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

US Share Market News

  1. Performance Overview:

    • US stocks surged on Tuesday as more signs of easing inflation boosted hopes for a Federal Reserve rate cut as early as next month, leading to a drop in Treasury yields.

  2. Sector-Specific Movements:

    • The S&P 500 climbed 1.7% to 5,434.43 points, the NASDAQ Composite jumped 2.4% to 17,183.95 points, and the Dow Jones Industrial Average gained 1% to 39,765.64 points on Tuesday.

    • Investors snapped up discounted technology stocks, particularly in internet and chipmaking firms, following mixed earnings reports that caused significant losses in recent weeks. The potential for lower rates also fueled buying in economically sensitive sectors.

  3. Economic Indicators:

    • Tuesday's data showed the producer price index rose just 0.1% in July, lower than the 0.2% economists expected. On an annual basis, it increased to 2.2%, slightly below the 2.3% forecast.

    • Attention is now focused on the consumer price index inflation data, set to be released on Wednesday.

    • The upcoming inflation data is expected to show a slight easing in July, which, along with Tuesday's softer producer price index, could pave the way for a deeper rate cut by the Federal Reserve in September.

Other Asset Classes

  1. Treasury Yields:

    • Treasury yields fell on Tuesday after a key inflation measure came in lower than anticipated. The yield on the 10-year Treasury declined by about 5.7 basis points to 3.852%.

  2. Currency:

    • The US dollar weakened after data revealed that producer prices rose less than expected in July. The dollar index dropped to 102.73.

  3. Commodities:

    • US crude oil prices dropped 2% on Tuesday as concerns over slowing global demand outweighed tensions between Iran and Israel. The market is now refocusing on fundamentals after the International Energy Agency and OPEC highlighted weaker consumption in China this week.

    • Gold prices held steady near their July record high on Tuesday, as both the dollar and Treasury yields edged lower. Spot gold prices dipped about 0.2% to $2,467.12 per ounce due to some profit-taking.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets continued to rise on Wednesday after US producer prices for July came in below expectations.

  2. Specific Index Performance:

    • Japan's Nikkei 225 was up 0.98%, with the Topix gaining 0.72%.

    • South Korea's Kospi increased by 1.1%, while the Kosdaq, focused on small-cap stocks, jumped 1.4%.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty indicates a positive opening for the Indian market, supported by strong global cues. We expect Nifty to open higher and trade within a range of 24,400 to 24,000.

  2. Market in Previous Session:

    • Benchmark indices declined for the second session as mixed macroeconomic data showed CPI near a 5-year low in July and IIP growing at 4.2% in June.

    • Nifty closed down by 0.85% at 24,139, with selling pressure intensifying.

    • Bank Nifty also dropped sharply by 1.48% to 49,831, led by HDFC Bank.

    • All sectoral indices, including bank, power, oil & gas, metal, media, and telecom, fell by over 1%.

  3. Nifty Short-Term Outlook:

    • Nifty failed to move above the 20-day EMA at 24,380, experiencing a sharp decline.

    • The index has support at 23,900-24,000, aligning with last week’s low and the 50-day EMA.

    • Holding above this range may lead to consolidation between 23,900 and 24,400.

    • However, only a close above 24,400 could trigger further upside toward 24,800 in the coming weeks.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 24,290, followed by 24,400 levels. Conversely, downside support is located at 24,110, followed by 24,000.

    • Bank Nifty: Intraday resistance is positioned at 50,310, followed by 50,630, while downside support is found at 49,600, followed by 49,410.

    • Fin Nifty: Intraday resistance is positioned at 22,740, followed by 22,880, while downside support is found at 22,510, followed by 22,380.

Derivative Market Analysis

  1. Nifty:

    • The highest OI for puts is at 23,500, followed by 24,000, while for calls, it is at 25,000 and 24,500.

    • Call writers are active above 24,200, indicating strong resistance at higher levels.

    • If Nifty sustains above 24,200, it could move toward 24,500.

    • Immediate support is at 24,000, and resistance is at 24,500.

    • The Nifty put-call ratio has decreased by 0.25 to 0.78.

  2. Bank Nifty:

    • The highest put OI is at 49,000, while the highest call OI is at 50,500.

    • Immediate put OI is at 49,500, and call OI is at 50,000.

    • Significant put OI addition was seen at 49,300, and call OI addition at 50,500, with call writers active above 50,000, indicating strong resistance.

    • Immediate support is at 49,500, and resistance is at 50,500.

    • The Bank Nifty put-call ratio has decreased by 0.39 to 0.60.


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.

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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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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?

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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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