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Share Market Today | Gift Nifty Signals Negative Start, Consolidation Likely

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Synopsis:

Today’s share market features how GR Infraprojects wins ₹1,885.6 crore LoA from MSRDC. Cochin Shipyard sees 5% stake divestment. Adani Enterprises raises ₹4,200 crore via QIP. PNC Infratech secures ₹4,630 crore order. KEI Industries plans ₹2,000 crore QIP. IndiGo Ventures gains SEBI approval. FIIs net sell ₹1,748.71 crore while DIIs net buy ₹1,654.96 crore.

Latest Market News

1. GR Infraprojects gets a Letter of Acceptance (LoA) worth ₹1,885.6 crore from Maharashtra State Road Development Corp.

2. ⁠Cochin Shipyard - Government to divest 5% stake via OFS at ₹1,540 per share.

3. ⁠Adani Enterprises raises ₹4,200 crore through its QIP — Quant MF gets nearly half the shares.

4. ⁠PNC Infratech bags order worth ₹4,630 crore for two projects from Maharashtra State Road Development Corporation (MSRDC).

5. ⁠KEI Industries to raise up to ₹2,000 crore via QIPs.

6. ⁠IndiGo Ventures gets SEBI approval to launch a Venture Capital Fund.

7. ⁠FIIs net sell ₹1,748.71 crore while DIIs net buy ₹1,654.96 crore in equities yesterday.

PNC INFRATECH LTD.

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328.75-6.04 (-1.80 %)

Updated - 13 December 2024
333.05day high
DAY HIGH
323.50day low
DAY LOW
1108804
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • US benchmark equity indexes closed lower on Tuesday as markets evaluated the latest batch of corporate earnings, while oil prices slumped.

  2. Sector-Specific Movements:

    • The Nasdaq Composite fell 1% to 18,315.6. The Dow Jones Industrial Average and the S&P 500 dropped 0.8% each to 42,740.4 and 5,815.3, respectively, both retreating from Monday's record closings. Among sectors, energy saw the steepest decline, down 3%. Real estate led the gainers.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year yield fell 3.9 basis points to 4.03%, while the two-year rate rose 1.1 basis points to 3.95%.

  2. Currency:

    • The dollar index had closed flat at 103.22.

  3. Commodities:

    • West Texas Intermediate crude oil declined 3.9% to $70.92 a barrel whereas Brent crude oil futures were up by 0.3% trading at 74.49 a barrel as Israel reportedly said it doesn't plan to target Iran's oil facilities.

    • Gold rose 0.5% to $2,677.70 per troy ounce, while silver gained 1.2% to $31.68 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:

    • The S&P/ASX 200 Index fell 0.4% to below 8,290 on Wednesday, retreating slightly from all-time highs.

    • The Nikkei 225 Index tumbled 1.6% to below 39,300 while the broader Topix Index fell 0.5% to 2,710.

    • Meanwhile, three of Southeast Asia’s biggest economies will unveil monetary policy decisions later today. Indonesia and Thailand are expected to keep rates on hold, while a cut is seen in the Philippines.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a negative opening for the Indian markets and is likely to consolidate in the broad range of 24,940 - 25,350.

  2. Market in Previous Session:

    • Benchmark indices were unable to sustain their opening gains, closing in the red on October 15, with the Nifty falling below 25,100, weighed down by auto, metal, and pharma stocks.

    • At the close, the Sensex dropped 152.93 points, or 0.19%, to 81,820.12, while the Nifty declined 70.70 points, or 0.28%, to 25,057.30.

    • Despite a strong start, the market gave up all its early gains within the first few hours and remained in negative territory for the rest of the day, pulling the Nifty closer to the 25,000 mark.

    • Sector performance was mixed: the metal index fell 1.5%, auto slipped nearly 1%, pharma was down 0.5%, while the realty index gained 2% and the media index rose 0.7%.

  3. Nifty Short-Term Outlook:

    • Index has formed a dark cloud cover candle on the daily chart signaling selling pressure at higher levels around 25,200-25,250 levels.

    • Nifty on Tuesday's session reacted lower from the upper band of the last seven sessions range. 

    • We believe the index will extend the consolidation in the broad range of 25,250-24,800. Only a move above the 25,250 will signal an extension of the pullback towards 25,350 and 25,500 levels in the coming sessions.

    • Immediate supports are placed at 24,800-24750 levels being the confluence of the September lows and the 61.8% retracement of the previous up move (23,893-26,277). Holding above the same is the key for the extension of the pullback. 

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,240 followed by 25,350 levels. Conversely, downside support is located at 24,940, followed by 24,800.

    • 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 addition has been observed at the 25,200 level, followed by the 21,100 level, which will act as immediate resistance.

    • An accumulation of both call and put OI has been observed at the 25,000 level, suggesting a straddle formation and indicating a key level for the day.

    • According to the option chain, the immediate range for the weekly expiry is between 25,000 and 25,200. A break on either side of this range will likely trigger further directional movement.

    • The Nifty put-call ratio has declined by 0.13 and is now positioned at 0.90.

  2. Bank Nifty:

    • The highest call OI has been observed at the 52,000 level, which will act as immediate resistance for the weekly expiry.

    • On the other hand, major put OI has been noted at the 51,000 level, which will act as crucial support.

    • According to the option chain, the dominance of call writers can be observed above the 52,000 level, suggesting limited upside potential. For the weekly expiry, Bank Nifty is likely to consolidate between 52,000 and 51,000 levels.

    • The Bank Nifty put-call ratio has declined by 0.13 and is now positioned at 0.77.

    • The max pain level stands at 51,800.

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

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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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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

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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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