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Share Market Today | Gift Nifty Indicates Flat Opening; Range 24,940-25,200

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Synopsis:

Today’s share market features how IRCON partners with Patel Engineering on infrastructure projects, while Reliance Industries sets a bonus share record date. Bikaji acquires a stake in Hazelnut Factory, HDFC opens in Singapore, RVNL wins a metro project, Oriana secures a solar contract, and FIIs sell equities.

Latest Market News

1. IRCON signs MoU with Patel Engineering for collaboration & co-operation in infrastructure projects in India & overseas.

2. ⁠Reliance Industries has fixed October 28 as the record date for the purpose of determining the equity shareholders of the company eligible for bonus equity shares of the company.

3. ⁠Bikaji Foods arm Bikaji Foods retail to acquire 53.02% stake in Hazelnut factory food, to invest up to ₹131 cr.

4. ⁠HDFC inaugurates its first branch in Singapore to expand financial services.

5. ⁠RVNL emerges lowest bidder for a project worth ₹270 cr from Maharashtra Metro Rail Corporation.

6. ⁠OrianaPower bags contract for 75MW(AC) solar power plant worth ₹375 cr.

7. ⁠FIIs net sell ₹3,435.94  cr while DIIs net buy ₹2,256.29 cr in equities yesterday.

RAIL VIKAS NIGAM LIMITED

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471.5-2.75 (-0.57 %)

Updated - 12 December 2024
479.00day high
DAY HIGH
466.50day low
DAY LOW
4205765
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • US benchmark equity indexes closed higher Wednesday, with the Dow Jones Industrial Average notching a new record, as markets evaluated the latest corporate earnings.

  2. Sector-Specific Movements:

    • The Dow rose 0.8% to 43,077.7, while the S&P 500 added 0.5% to 5,842.5. The Nasdaq Composite advanced 0.3% to 18,367.1. Utilities paced the gainers among sectors. Only communication services and consumer staples closed lower.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year yield fell two basis points to 4.02%, while the two-year rate lost 1.4 basis points to 3.94%.

  2. Currency:

    • The dollar index which tracks the strength of the dollar against a basket of major currencies has closed little above 103.5 levels.

  3. Commodities:

    • West Texas Intermediate crude oil ticked 0.1% higher to $70.62 a barrel. 

    • Brent crude futures was up 0.6%, to $74.67 a barrel.

    • Gold and silver rose 0.4% each to $2,689.8 per troy ounce and $31.89 per ounce, respectively.

Asian Markets

  1. General Trends:

    • Equities in Asia rose after Wall Street closed higher.

  2. Specific Index Performance:

    • The S&P/ASX 200 Index rallied 0.9% in opening tick to around 8,360 levels.

    • The Nikkei 225 Index rose 0.1% to around 39,200 while the broader Topix Index gained 0.5% to 2,704 recouping some losses from the previous session.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a flat opening of for the Indian markets and is likely to consolidate in the broad range of 24,940 - 25,200.

  2. Market in Previous Session:

    • The benchmark indices declined for a second straight session on October 16 weighed down by weak global markets, with the Nifty slipping below 25,000 amid broad-based selling.

    • At the close, the Sensex had fallen 318.76 points (0.39%) to 81,501.36, while the Nifty was down 86 points (0.34%) at 24,971.30.

    • Early recovery erased those losses, but renewed selling in auto and IT stocks dragged the Nifty close to 24,900 intraday.

    • Sector-wise, oil & gas, real estate, and telecom posted gains, while auto, IT, pharma, and media fell between 0.5% and 1%.

  3. Nifty Short-Term Outlook:

    • The index has formed a high wave candle, indicating consolidation amid stock-specific movements as Q2FY25 progresses.

    • Nifty remains around the 25,000 level, consolidating within a broad range of 25,250-24,800 over the last eight sessions. A clear breakout above or breakdown below this range would signal further directional movement.

    • Immediate supports are positioned at the 24,800-24,750 levels, aligning with the September lows and the 61.8% retracement of the previous upward move (23,893-26,277). Maintaining above this level is crucial for any potential pullback to take shape. 

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,240 followed by 25,350 levels. Conversely, downside support is located at 24,950, followed by 24,800.

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

Derivative Market Analysis

  1. Nifty:

    • Call writers are active across the strikes above the 25,000 level, suggesting multiple resistance points, with the highest call OI noted at the 25,500 level.

    • On the flipside, major put OI is observed at the 24,500 level, followed by the 24,800 level, which will act as crucial support for the index.

    • According to option chain analysis, the immediate range for Nifty is between the 24,800 and 25,000 levels. Put writers have shifted their positions to lower levels, indicating caution about a potential downside move.

    • The Nifty put-call ratio has declined by 0.03 and is now positioned at 0.74.

  2. Bank Nifty:

    • Accumulation of both call and put OI is noted at the 52,000 level, indicating a straddle formation and a critical deciding level for the day.

    • Major call OI is observed at the 52,000 level. If the price surpasses and sustains above 52,000, short covering could be likely.

    • If the price holds below 52,000, a downside move toward the 51,500 level, where immediate put OI is noted, could be possible.

    • According to option chain analysis, the broader range for Bank Nifty is between 51,500 and 52,500. A break of either range may trigger 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.

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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.

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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