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Share Market Today | GIFT Nifty Down 25 Points, Global Markets Fall

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Synopsis:

Today’s latest market updates feature Cyient’s 14.5% stake sale in Cyient DLM worth ₹860.9 Cr, GE T&D India's promoter stake sale, Petronet LNG’s 5-year MoU with Sri Lanka's LTL Holdings, HG Infra Engineering’s ₹781 Cr road project in Gujarat, plus other global market news.

Latest Market News

  1. Cyient plans to sell a 14.5% stake worth ₹860.9 crore in Cyient DLM via block deals.

  2. General Atlantic Singapore Fund plans to sell a 5.1% stake in PNB Housing Finance at ₹775 per share, a 4.4% discount to the current market price.

  3. GE T&D India's promoter group plans to sell a minority stake to simplify its holding structure.

  4. Petronet LNG signs a 5-year MoU with Sri Lanka's LTL Holdings for LNG supply to dual-fueled power plants in Colombo.

  5. HG Infra Engineering wins a ₹781 crore road project in Gujarat.

  6. FIIs sold ₹1,457.96 crore in equities, while DIIs bought ₹2,252.10 crore.

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

US Share Market News

  1. Performance Overview:

    • US benchmark equity indexes fell on Tuesday as investors waited for the minutes from the Federal Reserve's July meeting.

  2. Sector-Specific Movements:

    • The Nasdaq Composite slipped 0.3% to 17,816.9, while both the Dow Jones Industrial Average and the S&P 500 dropped 0.2% to 40,835 and 5,597.1, respectively.

    • Energy stocks led the declines, while consumer staples were the top gainers.

  3. Economic Indicators:

    • The minutes from the Fed's July meeting will be released on Wednesday.

    • Investors are also keenly awaiting Fed Chair Jerome Powell's speech at the Jackson Hole economic symposium on Friday.

Other Asset Classes

  1. Treasury Yields:

    • The US two-year yield fell by 7.6 basis points to 3.99% on Tuesday, while the 10-year yield decreased by 5.7 basis points to 3.81%.

  2. Currency:

    • The dollar index slipped to 101.41, its lowest level since January.

  3. Commodities:

    • West Texas Intermediate crude oil dropped 0.7% to $73.82 per barrel, while Brent crude fell 0.6% to $77.21 per barrel.

    • Gold rose by 0.5% to $2,554.40 per troy ounce, and silver increased by 0.6% to $29.49 per ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets fell on Wednesday, tracking Wall Street's losses as both the S&P 500 and Nasdaq Composite ended their eight-day winning streak.

  2. Specific Index Performance:

    • Japan's Nikkei 225 dropped 0.75% following lower-than-expected export data, while the broader Topix index fell 0.54%.

    • South Korea's Kospi edged down 0.18%, and the small-cap Kosdaq declined by 0.66%.

    • Australia's S&P/ASX 200 index fell by 0.28%.

    • Hong Kong's Hang Seng index futures were at 17,360, below the previous close of 17,511.08.

India Market Outlook

  1. GIFT Nifty Projection:

    • GIFT Nifty suggests a flat opening for Indian markets, down by 20 points. After a flat start, the Nifty is likely to consolidate within the broad range of 24,400-24,850.

  2. Market in Previous Session:

    • Following a volatile session, Nifty and Sensex ended on a strong note, driven by gains in banking and IT stocks.

    • Sensex rose by 378.18 points (0.47%) to 80,802.86, and Nifty increased by 126.10 points (0.51%) to 24,698.80.

    • All sectors closed positively except FMCG. Mid and small-cap indices outperformed, with gains of 1% and 0.5%, respectively.

    • India's VIX dropped over 4% to approximately 13.8, reflecting eased market volatility.

  3. Nifty Short-Term Outlook:

    • The index is expected to continue its upward trend, having filled a bearish gap and now heading towards 24,850 and 24,960 levels, where it may encounter another bearish gap.

    • Nifty has immediate support near 24,400, which aligns with the 21-day moving average.

    • The trend should remain strong as long as the index stays above the 24,600-24,650 range.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 24,850, followed by 24,960 levels. Conversely, downside support is located at 24,520, followed by 24,400.

    • Bank Nifty: Intraday resistance is positioned at 51,000, followed by 51,300, while downside support is found at 50,350, followed by 50,240.

    • Fin Nifty: Intraday resistance is positioned at 23,350, followed by 23,520, while downside support is found at 23,000, followed by 22,880.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI is at the 25,000 level, suggesting strong resistance.

    • Call unwinding above 24,600 indicates caution among call writers about a potential upward move.

    • Significant put OI is observed at the 24,300 level, with immediate put OI addition at 24,700.

    • The Nifty put-call ratio has risen by 0.10 to 1.27, signalling a cautious but optimistic outlook.

    • The immediate trading range for the index is expected to be between 24,600 - 24,700 and 25,000 levels.

  2. Bank Nifty:

    • The highest call OI for Bank Nifty is at the 51,000 level, acting as immediate resistance for the weekly expiry.

    • Put writers have moved positions to higher levels below the 50,800 strike, indicating positive sentiment.

    • The immediate trading range is between 50,500–51,000, with a likely directional move if broken.

    • The Bank Nifty put-call ratio increased by 0.23 to 1.01, and the max pain level for the weekly expiry is estimated between 50,700–50,900.

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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Answer Field

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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.

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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.

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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.

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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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