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Share Market Today | Gift Nifty Indicates Flat Opening, Consolidation Likely

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Synopsis:

Today’s share market features how City gas distributors may raise prices after an APM gas allocation cut. Zomato and Zepto plan to raise funds, India expects alcoholic beverage export growth, and UK trade talks in November. Zydus Life receives US FDA approval; FIIs net sell ₹7,421.40 cr.

Latest Market News

1. IGL, MGL, City Gas players may raise prices after APM Gas allocation cut.

2. ⁠Zomato and Zepto will raise more money, through QIP.

3. ⁠India's alcoholic beverages exports to grow 15-20% in 2024-25 from $389 million, says govt official.

4. ⁠India expects UK trade talks to resume in November.

5. ⁠Zydus Life gets US FDA final approval for Fludrocortisone Acetate tablets USP, 0.1 mg. Fludrocortisone acetate tablets are indicated as partial replacement therapy for primary and secondary adrenocortical insufficiency in Addison's disease.

6. ⁠MGL’s allocation for CNG (Transport) has been reduced by 20%, effective October 16, 2024. The reduction in allocation will have an adverse impact on the profitability of the Company.

7. ⁠FIIs net sell ₹7,421.40 cr while DIIs net buy ₹ 4,979.83 cr in equities yesterday.

RAIL VIKAS NIGAM LIMITED

Trade

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:

    • The Dow Jones Industrial Average stretched its record closing run on Thursday as traders evaluated the latest economic data and corporate earnings.

  2. Sector-Specific Movements:

    • The Dow was up by 0.4% to close at 43,239.1. The S&P 500 and the Nasdaq Composite closed little changed at 5,841.5 and 18,373.6, respectively. Energy and technology posted the biggest gains among sectors, while utilities saw the steepest decline.

3. Economic Indications:

  • In economic news, US retail sales climbed more than expected in September amid increased spending at restaurants and apparel stores in a sign consumers remained resilient through the key back-to-school period.

  • Weekly applications for unemployment insurance in the US fell last week, while continuing claims rose to their highest level since late July, according to government data.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year yield rose eight basis points to 4.1% Thursday, while the two-year rate gained 4.1 basis points to 3.98%.

  2. Currency:

    • The dollar index which tracks the strength of the dollar against a basket of major currencies has closed little above 103.76 levels.

  3. Commodities:

    • West Texas Intermediate crude oil rose 0.5% to $70.75 a barrel Thursday.

    • Brent crude futures was up 0.2% trading at $74.61 a barrel.

    • Gold gained 0.6% to $2,706.80 per troy ounce, while silver dropped 0.3% to $31.87 per ounce.

Asian Markets

  1. General Trends:

    • The Nikkei 225 Index rose 0.3% to above 39,000 in opening tick while the broader Topix Index gained 0.25% to 2,685 on Friday, with Japanese shares snapping a two-day decline as slowing domestic inflation countered hawkish bets on Bank of Japan monetary policy.

  2. Specific Index Performance:

    • Data showed that Japan’s headline and core inflation rates slowed to a five-month low of 2.5% and 2.4%, respectively, in September.

    • The S&P/ASX 200 Index fell 0.6% to around 8,310 on Friday, retreating from all-time highs, with mining stocks leading the decline.

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 24,500 - 25,000.

  2. Market in Previous Session:

    • Indian equity markets closed lower for the third consecutive session on October 17, with the Nifty settling at 24,750.

    • The decline was linked to lower sales projections for the festive season, rising non-performing assets (NPAs), and slow credit growth. 

    • Moreover, disappointing Q2 earnings have negatively impacted market sentiments despite strong global cues.

    • By the end of the day, the Sensex had fallen by 494.75 points (0.61%) to 81,006.61, while the Nifty dropped 221.50 points (0.89%) to 24,749.80.

    • The BSE midcap and small-cap indices shed more than 1 percent each.

  3. Nifty Short-Term Outlook:

    • Index has formed a sizable bear candle with a lower high and lower low signalling corrective bias. 

    • Nifty is currently testing the lower band of the last nine days range (25235-24700). 

    • Holding above the support area of 24700-24800 being the last two major lows will be crucial for any pullback to materialize. On pullback index has Immediate hurdle at 24950 levels.  

    • While a breach below 24700 can lead to extension of current decline towards 24350 levels in the coming sessions being the confluence of 100 days EMA and the 80% retracement of the previous up move (23893-26277).

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,050 followed by 25,200 levels. Conversely, downside support is located at 24,640, followed by 24,550.

    • Bank Nifty: Intraday resistance is positioned at 51,800, followed by 52,000, while downside support is found at 51,050, followed by 51,960.

Derivative Market Analysis

  1. Nifty:

    • Accumulation of call as well as put OI is been observed at 24,800 level which suggest a straddle formation and deciding level for the day.

    • Highest call OI is been noted at 25,000 level which will work as immediate resistance. If price surpasses and sustaining above 25,000 a short covering could be likely.

    • On the other hand, Highest put OI is been positioned at 24,000 level, whereas immediate put OI is noted at 24,500 which will act as support zone.

    • According to option chain analysis, broader range for Nifty is between 24,500 and 25,000 level.

    • Nifty put call ratio increased by 0.14 and now positioned at 0.88.

  2. Bank Nifty:

    • The highest call OI has been noted at 52,000 level followed by 51,500 which will act as immediate resistance. If price surpasses and sustaining above 51,500 upside could be possible toward 52,000 level.

    • On the flipside, Major put OI is positioned at 51,000 level which will act as a crucial support for Bank Nifty, If price breach and holds below 51,000 a corrective bias could be possible.

    • According to option chain analysis, broader range for bank nifty is 51,000 - 52,000 level.

    • Bank Nifty put call ratio declined by 0.27 and now positioned at 0.73.

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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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?

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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?

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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?

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

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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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