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Share Market Today | Gift Nifty indicates 30-point gap up for Indian markets

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Synopsis:

Today’s share market features SpiceJet and Samvardhana Motherson launch QIPs, Shapoorji Pallonji's Afcons Infrastructure secures SEBI approval for a ₹7,000 crore IPO, and SEBI introduces a T+2 bonus share trading framework from October. Other firms also announce key acquisitions and fundraising plans.

Latest Market News

1. Spicejet launches QIP to raise to Rs 3,000 cr at an Indicative Issue price of Rs 61.60/share (20.81% disc to the last closing price on BSE).

2. ⁠SamvardhanaMotherson launches QIP to raise funds.

3. Shapoorji Pallonji Group’s flagship infrastructure firm, Afcons Infrastructure, gets SEBI nod for its ₹7,000 crore IPO.

4. ⁠⁠SEBI to implement T+2 bonus share trading framework from October 1.

5. ⁠FM Sitharaman expects better GDP print in Q2 & Q3 on higher govt capex.

6. Reliance Infrastructure to consider fundraising plans on September 19⁠.

7. ⁠Indo Count’s Arm Indo Count Global Acquires 81% Stake In Fluvitex USA, Inc for $19.63 m and has an exclusive option to buy the balance 19% stake later by entering a Stock Purchase Agreement with Masias Invest for $4.6 m in the next 5 years.

8. ⁠Firstsource partners with Microsoft Azure OpenAI for digital transformation offerings.

9. ⁠JK Tyre board approves merger of Cavendish Industries with the company. JK Tyre is to issue 92 shares of the company for every 100 shares of Cavendish Industries.

10. ⁠FIIs net sell ₹1,634.98 crore while DIIs net buy ₹754.09 crore in equities yesterday.

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Updated - 13 December 2024
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In-Depth Market Insights: Global Outlook, Derivatives & More

US Share Market News

  1. Performance Overview:

    • The Federal Open Market Committee's two-day meeting is scheduled to begin on Tuesday, with a decision on its benchmark lending rate expected on Wednesday.

  2. Sector-Specific Movements:

    • The Dow Jones Industrial Average closed at its all-time high on Monday as traders awaited the Federal Reserve's latest monetary policy decision due later in the week.

    • The Dow was up by 0.6% closing at 41,622.1, while the S&P 500 increased 0.1% to 5,633.1. The Nasdaq Composite fell 0.5% to 17,592.1.

  3. Economic Indicators:

    • Financials and energy led the gainers among sectors. Only technology and consumer discretionary closed lower.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year yield fell three basis points to 3.62% Monday, while the two-year rate dropped 1.9 basis points to 3.56%. 

  2. Currency:

    • The dollar index which measures the greenback against a basket of currencies, fell 0.33% at 100.69.

  3. Commodities:

    • West Texas Intermediate crude oil jumped 2.6% to $70.46 a barrel whereas Brent crude futures were trading at $72.75.

    • Gold was little changed at $2,610.60 per troy ounce, while silver rose 0.1% to $31.12 per ounce.

Asian Markets

  1. General Trends:

    • Asian stocks were steady early Tuesday following a mixed session on Wall Street where traders boosted bets the Federal Reserve will this week deliver a half-point rate cut. 

  2. Specific Index Performance:

    • Japan's Nikkei traded lower at 36,271 down by 0.85%.

    • Indonesia and Malaysia will reopen after being shut on Monday, concern is growing about the strength of China’s economy.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a gap up opening of 30 points for the Indian markets. 

    • The Nifty spot after a positive opening is likely to consolidate in the broad range of 25,100 - 25,550.

  2. Market in Previous Session:

    • Indian markets surged to new all-time highs on September 16, breaking a three-day losing streak, with the Nifty closing near 25,400, driven by gains in banking, metal, and energy stocks.

    • By the end of the session, the Sensex had risen 97.84 points (0.12%) to 82,988.78, while the Nifty gained 27.25 points (0.11%) to close at 25,383.75. 

    • Although the market saw a positive start and extended its gains to reach a new peak, it later gave up some of the progress. However, buying at lower levels helped the indices end in positive territory. 

    • Except for FMCG and Telecom, all sectoral indices closed in the green, with banking, capital goods, power, realty, media, and metals up by 0.4-1%. Broader market indices also hit record highs.  

  3. Nifty Short-Term Outlook:

    • Going ahead, we expect the index to extend the current rally and head higher towards 25750-25850 in the coming weeks being the confluence of the measuring implication of the recent range breakout (25300-24750) and the upper band of the rising channel of the last one month.

    • The immediate support for Nifty is revised higher towards 24800-24900 being the confluence of the 20-day EMA and the lower band of the rising channel as seen in the adjacent chart.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,440 followed by 25,520 levels. Conversely, downside support is located at 25,290, followed by 25,200.

    • Bank Nifty: Intraday resistance is positioned at 52,240, followed by 52,500, while downside support is found at 51,850, followed by 51,600.

    • Fin Nifty: Intraday resistance is positioned at 24,140, followed by 24,200, while downside support is found at 23,840, followed by 23,800.

Derivative Market Analysis

  1. Nifty:

    • The highest Call OI addition has been observed at the 26,000 level, followed by 25,700, which is likely to serve as immediate resistance.

    • Put writers have shifted their positions to the 25,400 level, indicating confidence in an upside movement, which is a positive data point.

    • According to option chain analysis, Call writers have unwound their positions across strikes below the 25,400 level, indicating caution regarding an upside move. The immediate range for Nifty is between 25,300-25,400 and 25,700 levels.

    • The Nifty Put-Call Ratio (PCR) has declined by 0.07 and is now positioned at 1.26.

  2. Bank Nifty:

    • The accumulation of both Call and Put OI at the 24,000 level makes it a key deciding level.

    • According to option chain analysis, the immediate range for weekly expiry is likely to be between 23,800 and 24,000 levels.

    • The max pain level for the weekly expiry is at the 24,000 level.

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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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.

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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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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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