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Share Market Today | Indian Markets Eye Flat to Positive Opening

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Synopsis:

Today’s share market features how Sterling and Wilson secures ₹823 crore order; JSW Infra gets LOI for Maharashtra port; Maruti launches Baleno Regal; Lyka Labs approved to manufacture Pregabalin Gel; J Kumar Infra lands ₹298 crore Pune contract; FIIs sell, DIIs buy equities.

Latest Market News

1. Sterling and Wilson Renewable received fresh order worth ₹823 cr yesterday, total order inflow of ₹2,050 cr in Q2FY25.

2. ⁠JSW Infra gets a Letter of Intent (LoI) From the Maharashtra Maritime Board for the Development, Operation, Management and Maintenance of a Weather and Multipurpose Port at village Murbe in the Palghar District of Maharashtra on Public public-private partnership (PPP) basis.

3. ⁠Maruti Suzuki launches Baleno Regal Edition: Indulgent Comfort, Distinct Styling.

4. ⁠Lyka Labs gets product permission from the Central Drugs Standard Control Organization Of India (CDSCO) to manufacture & market Pregabalin Gel 8% in India.

5. ⁠J Kumar Infra wins an order worth ₹298 crore from Pune Municipal Corporation.

6. ⁠FIIs net sell ₹3,731.59 cr while DIIs net buy ₹2,278.09 cr in equities yesterday.

JSW ENERGY LIMITED

Trade

676.15-1.44 (-0.21 %)

Updated - 12 December 2024
682.90day high
DAY HIGH
671.25day low
DAY LOW
143631
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • The Dow Jones Industrial Average and the S&P 500 stretched their record closing run on Monday as traders awaited key corporate earnings scheduled for later in the week.

  2. Sector-Specific Movements:

    • The S&P 500 rose 0.8% to 5,859.9, while the Dow increased 0.5% to 43,065.2, closing above 43,000 for the first time. 

    • The Nasdaq Composite advanced 0.9% to 18,502.7. Barring energy, all sectors notched gains, led by technology and utilities.

  3. Economic Indicators:

    • In economic news, Bureau of Labor Statistics data showed that US producer prices were unexpectedly flat sequentially in September, while the annual metric topped market expectations.

Other Asset Classes

  1. Treasury Yields:

    • The US bond market was closed Monday for Columbus Day.

  2. Currency:

    • The dollar index had closed flat at 103.20.

  3. Commodities:

    • West Texas Intermediate crude oil dropped 2% to $74.02 a barrel whereas Brent crude futures were trading around $77 per barrel on Monday. 

    • OPEC cut its 2024 and 2025 global oil demand projections while holding supply estimates steady.

    • Oil further dropped as concerns eased about Israel attacking Iranian energy facilities.

    • Gold fell 0.3% to $2,669.40 per troy ounce, while silver decreased 0.8% to $31.5 per ounce.

Asian Markets

  1. General Trends:

    • Asian investors will be on the watch for further stimulus from the Chinese government after the country’s stocks posted their biggest gain in a week on Monday.

  2. Specific Index Performance:

    • Benchmark indices were up in Australia and Japan. 

    • The Nikkei 225 Index jumped 1% to around 40,000 in post-holiday trade in the morning, hitting its highest levels in twelve weeks.

    • The broad-based Topix Index also gained 0.8% to 2,728.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a flat to positive opening of for the Indian markets and is likely to consolidate in the broad range of 24,950 - 25,350.

  2. Market in Previous Session:

    • Nifty opened with a gap-up and maintained a positive trend throughout the day, ending with a gain of approximately 164 points. 

    • The Indian market continues to show resilience, with weaker Q2 earnings expectations largely factored in and oil prices on the decline. 

    • The IT and financial sectors are seeing increased buying interest following recent pullbacks.

    • At the close, the Sensex climbed 591.69 points, or 0.73%, to 81,973.05, while the Nifty gained 163.70 points, or 0.66%, to end at 25,128.

    • All sectoral indices, except metal and media, ended in positive territory, with IT, Banking, and Realty sectors each rising 1%.

    • The BSE midcap index increased by 0.3%, while the small-cap index closed flat.

  3. Nifty Short-Term Outlook:

    • Index has formed a bull candle with a higher high and higher low signalling a pullback after the last three sessions being range-bound trade.

    • On the daily charts, it is evident that Nifty has resumed its upward movement toward 25,500 levels after a three-day consolidation period.

    • It is expected to extend this consolidation in the range of 25235-24800. 

    • Only a move above the previous week's high of 25235 will signal an extension of the pullback towards 25500 levels. 

    • Immediate support is placed at 24950 levels, holding above the same is the key to the extension of the pullback. 

    • Short-term resistance is placed at 25500-25700 being the the gap down area of 3rd October and 61.8% retracement of the previous decline (26277-24694). 

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,240 followed by 25,350 levels. Conversely, downside support is located at 24,800, followed by 24,750.

    • Bank Nifty: Intraday resistance is positioned at 52,000, followed by 52,420, while downside support is found at 51,050, followed by 51,350.

    • Fin Nifty: Intraday resistance is positioned at 24,040, followed by 24,225, while downside support is found at 23,520, followed by 23,250.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI remains intact at the 26,000 level, while immediate call OI is observed at the 25,500 level, which will act as resistance.

    • Major put OI is seen at the 25,000 level, which will serve as crucial support for the index.

    • According to option chain analysis, put writers have shifted their positions to higher levels, and unwinding by call writers suggests a positive data point.

    • Nifty's put-call ratio has increased by 0.06 and is now positioned at 0.90.

  2. Bank Nifty:

    • Major put OI addition has been noted at the 51,000 level, followed by 51,500, which will act as immediate support. On the other hand, major call OI addition is noted at the 54,000 level, which is an interesting point to note. However, the immediate resistance is positioned at the 52,000 level.

    • According to option chain analysis, the immediate range for Bank Nifty is between 51,000 and 54,000. Call writers shifting their positions to higher levels suggest they are being cautious about upside movement.

    • Bank Nifty's put-call ratio has increased by 0.29 and is now positioned at 1.00.

  3. Fin Nifty: 

  • The highest call OI is noted at the 24,500 level, followed by the 24,000 level, which will act as resistance for the weekly expiry.

  • Put writers are active across strikes below the 23,800 level, suggesting multiple support levels.

  • According to option chain analysis, the deciding range for Fin Nifty for the weekly expiry is between 23,800 and 24,000. A break on either side of this range may lead to further directional movement.

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?

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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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Are there any specific tax implications associated with stock market investments?

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What are government bonds in India, and how do they work?

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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.

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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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