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Share Market Today | GIFT Nifty Positive, Asian Peers Gain

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Synopsis:

Today’s latest market updates feature Poly Medicure’s ₹1000 Cr QIP, Sequent Scientific’s WHO prequalification for Albendazole API, IndusInd Bank gets RBI approval to launch asset management subsidiary, Hi-Tech Pipes’ plan for ₹600 Cr QIP, Sapphire Foods plans stock split in September, plus other global market news.

Latest Market News

  1. Poly Medicure has launched a QIP to raise ₹1,000 crore, offering shares between ₹1,850 and ₹1,880 each.

  2. Sequent Scientific has secured WHO prequalification for its Albendazole API.

  3. IndusInd Bank has received RBI approval to launch an asset management subsidiary.

  4. Hi-Tech Pipes plans to raise up to ₹600 crore through QIP or other funding options.

  5. Sapphire Foods, the operator of KFC, has set a September record date for its upcoming stock split.

  6. Antfin Singapore plans to sell 13.6 crore Zomato shares worth ₹3,420 crore in a block deal.

  7. FIIs sold ₹2,667.46 crore in equities while DIIs bought ₹1,802.92 crore.

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

US Share Market News

  1. Performance Overview:

    • US stock markets ended higher on Monday as investors awaited key corporate earnings and the annual economic symposium in Jackson Hole, Wyoming, set for this week.

  2. Sector-Specific Movements:

    • The Nasdaq Composite climbed 1.4% to 17,876.8, while the S&P 500 rose 1% to 5,608.3.

    • The Dow Jones Industrial Average also gained 0.6%, closing at 40,896.5.

    • All sectors saw gains, with communication services and technology leading the way.

  3. Economic Indicators:

    • The two-day Jackson Hole symposium begins on Thursday, with Federal Reserve Chair Jerome Powell scheduled to speak on Friday.

    • Powell's comments will be closely watched, as markets expect the Federal Reserve may cut its benchmark lending rate by up to 50 basis points next month.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year Treasury yield dropped by 1.7 basis points to 3.88%, while the two-year yield remained nearly unchanged at 4.07%.

  2. Currency:

    • The dollar index fell by 0.56%, settling at 101.89, and briefly touched 101.85, its lowest level since January 2.

  3. Commodities:

    • West Texas Intermediate crude oil fell 2.8% to $74.47 per barrel, while Brent crude slipped 0.15% to $77.54 per barrel.

    • Gold edged up 0.2% to $2,542.60 per ounce, and silver rose by 2% to $29.44 per ounce.

Asian Markets

  1. General Trends:

    • China’s central bank is expected to keep its one-year and five-year loan prime rates unchanged, according to a Reuters poll of economists.

    • Investors will also be reviewing the minutes from the Reserve Bank of Australia's August meeting.

  2. Specific Index Performance:

    • Japan's Nikkei 225 increased by 1.1%, and the broader Topix index was up 0.78%.

    • South Korea's Kospi index rose by 0.99%, and the small-cap Kosdaq gained 1.19%.

    • Australia's S&P/ASX 200 index was up 0.48%.

    • Hong Kong's Hang Seng index futures pointed to a higher opening at 17,741, compared to the last close of 17,569.57.

India Market Outlook

  1. GIFT Nifty Projection:

    • The Gift Nifty indicates a 45-point gap-up opening for Indian markets.

    • After a positive start, Nifty is expected to consolidate within a range of 24,100-24,800.

  2. Market in Previous Session:

    • On August 19, Indian equity indices closed flat in a range-bound session.

    • The Sensex fell 0.02% to 80,424.68, while the Nifty rose 0.13% to 24,572.70.

    • Despite positive global cues, Nifty opened above 24,600 but lost gains early, trading flat through the session.

    • Most sectors, except auto and banking, ended higher, with healthcare, IT, metal, oil & gas, power, telecom, and media sectors up by 0.5-2%.

  3. Nifty Short-Term Outlook:

    • The Nifty is expected to continue its upward trend, potentially filling gap areas that will act as resistance in upcoming sessions.

    • A sustained close above these levels could push the index towards the all-time high of 25,078 in the coming weeks.

    • Key support for the week is between 24,000-24,200, aligning with last week's low and the 50-day EMA.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 24,720, followed by 24,800 levels. Conversely, downside support is located at 24,400, followed by 24,340.

    • Bank Nifty: Intraday resistance is positioned at 50,720, followed by 51,000, while downside support is found at 50,250, followed by 50,000.

    • Fin Nifty: Intraday resistance is positioned at 23,100, followed by 23,240, while downside support is found at 22,800, followed by 22,620.

Derivative Market Analysis

  1. Nifty:

    • The highest OI for put options is at 24,000, followed by 23,900, while the highest call OI is at 25,000, followed by 24,500.

    • A major OI addition at the 24,600 level suggests a straddle formation.

    • If the index surpasses 24,600, it could rise to 25,000, but if it stays below, it might decline to 24,000.

    • Immediate support is at 24,500, with resistance at 25,000.

    • The Nifty put-call ratio has dropped by 0.14 to 1.17.

  2. Bank Nifty:

    • The highest put OI is concentrated at 49,000, with the highest call OI at 50,500.

    • Immediate put OI at 50,000 indicates strong support, while major call writing between 50,400 and 51,000 suggests resistance.

    • Immediate support is at 50,000, and key resistance is at 51,000.

    • The Bank Nifty put-call ratio has decreased by 0.25 to 0.78.

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.

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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