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Share Market Today | Flat To Marginal Negative Opening For Indian Markets

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Synopsis:

Today’s share market features how RBI lifts restrictions on JM Financial, Garden Reach strikes a ₹491 crore deal, PG Electroplast approves ₹1,500 crore QIP, PTC acquires Trac Precision, premium whisky available in Andhra, Alembic gets USFDA nod, FIIs net sell ₹1,748.71 crore.

Latest Market News

1. RBI lifts restrictions on JM Financial effective today. The company is now permitted to provide financing against shares & bonds, says JM Financial.

2. ⁠Garden Reach strikes ₹491 crore deal with NPOL for an acoustic research ship.

3. ⁠PG Electroplast board approves raising up to ₹1,500 crore via QIPs.

4. ⁠PTC Industries to acquire UK's Trac Precision Solutions through a 100% shareholding deal.

5. ⁠Andhra Pradesh's new liquor policy: Premium whisky brands are now available in stores across state.

6. ⁠AlembicPharma receives USFDA approval for Diltiazem Hydrochloride extended-release capsules used for the treatment of high blood pressure and preventing chest pain.

7. ⁠FIIs net sell ₹1,748.71 crore while DIIs net buy ₹1,654.96 crore in equities on Friday.

GARDEN REACH SHIP&ENG LTD

Trade

1720.3-49.84 (-2.81 %)

Updated - 13 December 2024
1765.00day high
DAY HIGH
1701.85day low
DAY LOW
508368
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • The Dow Jones Industrial Average and S&P 500 chalked up record closing highs on Friday, with the Nasdaq also in positive territory, as markets were boosted by an earnings-driven jump in Netflix shares and broader gains across technology stocks.

    • All three major Wall Street benchmarks also comfortably secured a sixth straight weekly gain, their longest weekly winning streak since late 2023.

  2. Sector-Specific Movements:

    • On Friday, the S&P 500 rose 23.20 points, or 0.40%, to 5,864.67 points, while the Nasdaq Composite advanced 115.94 points, or 0.63%, to 18,489.55. The Dow Jones Industrial Average gained 36.86 points, or 0.09%, at 43,275.91.

    • The upbeat earnings of financial companies, and broadly positive economic data, have helped sustain the three main indexes' grind upwards in recent days.

    • The recent winning streak has investors optimistic equities still have further to run. Still, they are mindful that stretched valuations, ahead of the U.S. presidential election and amid rising geopolitical risks, could also mean further choppiness.

3. Economic Indications:

  • On the economic front, leading indicators for September are due out Monday.

Other Asset Classes

  1. Treasury Yields:

    • U.S. Treasury yields fell Friday as investors weighed the latest economic data and its potential effect on U.S. monetary policy. The 10-year Treasury yield fell 2 basis points to 4.079%.

  2. Currency:

    • The U.S. dollar fell on Friday, taking a breather after five straight days of gains, as risk appetite increased following yet another round of stimulus measures from China that bolstered global equities led by Chinese stocks. The dollar index was down 0.3% at 103.49.

  3. Commodities:

    • Gold surged above the historic threshold of $ 2,700 per ounce on Friday, powered by escalating tensions in the Middle East, uncertainties around the U.S. elections and relaxed monetary policy expectations that pushed the metal into uncharted territory. Spot gold was up 1% at $2,720.05 per ounce.

    • Oil futures declined on Friday, posting a weekly drop of more than 7%, after data showed China’s economic growth slowed and investors digested a mixed Middle East outlook. 

    • Brent crude futures fell 1.87%, to close at $73.06 a barrel, while U.S. West Texas Intermediate crude settled at $69.22 a barrel, down by 2.05%.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets were mixed Monday as traders awaited China’s loan prime rate announcement, with focus also on Japan’s general election at the end of this week.

  2. Specific Index Performance:

    • Japan’s benchmark Nikkei 225 was marginally down, while the broad based Topix was 0.11% lower. 

    • South Korea’s Kospi climbed 0.22% and the small-cap Kosdaq was marginally down.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a flat to marginal negative opening for the Indian market amid mixed global cues. Nifty spot post a flat opening is likely to consolidate in the range of 25000-24700.

  2. Market in Previous Session:

    • Benchmark equity indices snapped the three-day losing streak, closing Friday’s session on a higher note. Nifty started the session on a soft note but managed to recover as the session progressed and closed near the high.

    • The BSE Sensex climbed 218.14 points to close at 81,224.75, rebounding over 800 points from its intraday low of 80,409.25. The NSE Nifty was up by 104.20 points, closing at 24,854.05.

    • Amongst sectors, Banking and auto stocks led gains, while the IT and FMCG sectors saw declines.

    • Broader markets also saw a significant recovery, with the Nifty Midcap 150 gaining 0.17% to end at 21,755.65, and the Nifty Small-cap 100 surging more than 400 points to 19,077.80.

  3. Nifty Short-Term Outlook:

    • Index managed to hold above the lower band of the last 10-session range (24700) on a closing basis and witnessed a strong rebound to close above 24850 on Friday’s session.

    • Nifty snapped its three-session decline and formed a bull candle around the lower band of the last two weeks range (24700-25250). We expect the index to extend the consolidation. Hence, a move above Friday’s high (24886) will open upside towards 25100 & 25250 levels in the coming sessions.

    • Immediate support is at 24700. only a closing below the same 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 24,980 followed by 25,100 levels. Conversely, downside support is located at 24,700, followed by 24,570.

    • Bank Nifty: Intraday resistance is positioned at 52,330, followed by 52,580, while downside support is found at 51,750, followed by 51,510.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI addition is been noted at the 25,000 level which will act as an immediate resistance level, surpassing and sustaining above 25,000. A short covering could be likely.

    • On the other hand, across the strike put writers are active below the 24,800 level which will act as crucial support for Nifty. The highest put OI is noted at 24,000 level which is an interesting data point.

    • According to option chain analysis, the immediate range for nifty is 24,800 and 25,000 level. Either side of the range break will trigger further directional movement.

    • The nifty put call ratio increased by 0.05 and is now positioned at 0.93.

  2. Bank Nifty:

    • The interesting point is to note that the highest call OI is noted at the 54,000 level, while the immediate call OI is been noted at 52,500 which will act as a resistance level.

    • Put writers have shifted their position to the highest level and the unwound of the call writers has been noticed at the 52,000 level suggesting a positive data point.

    • According to option chain analysis, the immediate range is likely to be between 51500 and 52,500 levels.

    • Bank Nifty put call ratio increased by 0.47 and is now positioned at 1.20.

  3. Midcap Nifty:

  • The highest call OI addition has been noted at 13,200 level which will act as crucial resistance.

  • Whereas immediate support for the weekly expiry is noted at the 13,000 level where the highest put OI is been noted.

  • According to option chain analysis, midcap is likely to trade within the sideways zone.

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

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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