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Share Market Today | Gift Nifty Hints At A Positive Opening For Indian Markets

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Synopsis:

Today’s share market features Adani acquires ITD stake, Suzlon exits surveillance, SEBI restricts Axis Capital, AU SFB partners with Niva Bupa, NTPC invests ₹9,701 crore, Reliance raises ₹3,000 crore, Geojit issues rights, FIIs sell ₹2,547 cr, DIIs buy ₹2,012 cr.

Latest Market News

1. Adani Group set to acquire 46.64% stake in ITD Cementation India for Rs 5,888.57 crore.

2. ⁠Suzlon Energy excluded from Stage 1 Additional Surveillance Measure framework.

3. ⁠SEBI restrains Axis Capital from taking up new assignments in the capacity of a merchant banker, arranger or underwriter for any issue / offer for sale of securities in the debt segment, till further order.

4. ⁠AU Small Finance Bank partners with Niva Bupa Health Insurance to prioritise customer health.

5. ⁠NTPC Board approves investment of ₹9,701 crore in Sipat Super Thermal Power Project, Stage-III (1x800 MW).

6. ⁠Reliance Infra approves ₹3,000 crore capital raising via preferential issue.

7. ⁠Geojit Financial Services approves rights issue at ₹50 per share.

8. ⁠FIIs net sell ₹2,547.53 cr while DIIs net buy ₹2,012.86 cr in equities yesterday.

SUZLON ENERGY LIMITED

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75.75-3.98 (-4.99 %)

Updated - 03 October 2024
78.60day high
DAY HIGH
75.75day low
DAY LOW
79766127
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • The (Fed) yesterday sent a strong signal that it will likely lower rates another (50 basis points) this year to preserve current labor market conditions.

    • Technology led the gainers among sectors with a 3.1% jump, while consumer staples and utilities saw the steepest declines.

  2. Sector-Specific Movements:

    • The Dow Jones Industrial Average and the S&P 500 closed at all-time highs Thursday, a day after the Federal Reserve decided to lower interest rates by 50 basis points.

    • The Dow rose 1.3% to 42,025.2, while the S&P 500 gained 1.7% to 5,713.6. The two indices closed above 42,000 and 5,700, respectively, for the first time ever. The Nasdaq Composite jumped 2.5% to 18,014.

  3. Economic Indicators:

    • In economic news, weekly applications for unemployment insurance in the US declined to the lowest level since May, government data showed.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year yield rose 3.4 basis points to 3.72% Thursday, while the two-year rate fell 1.5 basis points to 3.59%. 

  2. Currency:

    • The dollar index fell 0.41% to close at 100.61.

  3. Commodities:

    • West Texas Intermediate crude oil rose 1.4% to $71.91 a barrel Thursday.

    • Gold rose 0.5% to $2,612.20 per troy ounce, while silver increased 1.5% to $31.14 per ounce.

Asian Markets

  1. General Trends:

    • Japan's Nikkei leads gains in the Asia-Pacific region following a surge on Wall Street after the Federal Reserve's significant rate cut. 

  2. Specific Index Performance:

    • Japan’s core consumer prices index climbed 2.8% year on year, in line with Reuters estimates. The reading will be the last gauge of the economy before the BOJ concludes its two-day monetary policy meeting, where it’s expected to keep interest rates unchanged at 0.25%.

    • Australia's S&P/ASX 200 inched up by 0.2%.Japan's Nikkei 225 climbed as much as 1.9%, while the broader Topix index rose 1.63%.In South Korea, the Kospi blue-chip index advanced 1.45% .Hong Kong's Hang Seng index futures stood at 18,177, above the previous close of 18,013.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a positive opening for the Indian markets. Nifty spot after a positive opening is likely to trade  in the broad range of 25,200- 25650 level.

  2. Market in Previous Session:

    • Benchmark Indices extended its consolidation for fifth consecutive session as participants reacted to the much-anticipated FOMC outcome. 

    • Nifty made an all-time high touching 25611 mark in the initial hour. However, failed to sustain at higher levels and witnessed profit booking throughout the session to close sub 25,450 levels. 

    • Sensex closed the session higher by 236 points or 0.29% at 83,184.80, while Nifty gained 38 points or 0.15% to close at 25,415.8.

    • Bank Nifty extended its outperformance with the index closing the session higher by 0.54% at 53037 levels. Broader market witnessed profit booking as Nifty Midcap and small cap closed the session lower by 0.6% and 1.1% respectively. 

    • Private banks, FMCG and Realty stocks are major gainers while Media, Oil & Gas, PSU banks & metal stocks were major draggers.  

  3. Nifty Short-Term Outlook:

    • Nifty has formed a bear candle with a long upper shadow highlighting intraday volatility and extension of the consolidation.

    • Volatility is likely to remain high in the coming sessions on account of the volatile global cues. Nifty in the last five sessions is facing resistance from the supply line joining recent highs placed around 25450-25550. 

    • A sustained closing above the same will open upside towards 25,800 in the coming weeks. Failure to do so will led to consolidation in the range of 25500-25000 amid stock specific action.

    • Key support is placed at 25100-25000 being the confluence of 20 days EMA and rising trendline joining lows of last two months.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,550 followed by 25,670 levels. Conversely, downside support is located at 25,350, followed by 25,220.

    • Bank Nifty: Intraday resistance is positioned at 53,350, followed by 53,550, while downside support is found at 52,900, followed by 52,620.

    • Fin Nifty: Intraday resistance is positioned at 24,584, followed by 24,700, while downside support is found at 24,350, followed by 24,200.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI addition has been observed at the 26,000 level, while immediate OI addition is seen at 25,500, which will serve as immediate resistance.

    • On the other hand, major put OI has been placed at the 25,000 level, followed by 25,500. If the price holds below 25,500, a corrective bias toward the 25,300 and 25,000 levels is possible.

    • The accumulation of call and put OI additions at the 25,500 level suggests a straddle formation, making it the deciding level for the day.

    • According to option chain analysis, the broader range for Nifty is between the 25,000 and 26,000 levels.

    • Nifty's put-call ratio has increased by 0.13 and is now positioned at 25,350.

  2. Bank Nifty:

    • The highest put OI addition has been positioned at the 53,000 level, which will serve as immediate support on the chart.

    • If the price holds below the 53,000 level, a corrective bias could occur. On the other hand, if the price sustains above 53,000, further upside could be triggered.

    • According to option data, the broader range for Bank Nifty is between the 52,000 and 54,000 levels.

    • Bank Nifty's put-call ratio has declined by 0.15 and is now positioned at 0.98.

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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