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Share Market Today | GIFT Nifty Shows Weakness, Asian Peers Down

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Synopsis:

Today’s latest market updates include Titagarh’s ₹8,500 Cr revenue aim, India Cements’ removal from F&O, Senco Gold’s plan to open 18-20 stores in FY25, 10.13% stake sale in Archean Chemicals, JSW Neo Energy’s new wind and solar projects, plus other global market news.

Latest Market News

  1. Titagarh Rail aims for ₹8,500 crore in revenue from new coach production capacity.

  2. India Cements will be removed from the F&O segment after the August series.

  3. Senco Gold plans to open 18-20 new stores in the fiscal year 2025.

  4. India Resurgence Fund and Piramal Natural Resources may sell 10.13% equity in Archean Chemicals.

  5. JSW Energy's subsidiary, JSW Neo Energy, signs PPAs for 1,325 MW of wind and solar projects.

  6. SJVN signs an MoU with AM Ammonia India to develop green ammonia plants.

  7. KRDCL-RVNL JV receives a project worth ₹156.47 crore from Southern Railway.

  8. KEC International secures new orders worth ₹1,025 crore in T&D and Cable businesses.

  9. FIH Mauritius may sell a 9.72% stake in CSB Bank at a floor price of ₹352.4 per share.

  10. FIIs sold ₹3,535.43 crore while DIIs bought ₹5,103.67 crore in equities yesterday.

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

US Share Market News

  1. Performance Overview:

    • On Wednesday, the US benchmark equity indexes mostly rose as traders assessed a report showing a drop in new-home sales for May.

  2. Economic Indicators:

    • Single-family home sales in the US dropped about 11% month-over-month to a seasonally adjusted annual rate of 619,000 in May, compared to 698,000 in April.

    • Stocks seem to be in a wait-and-see mode ahead of Friday's release of the personal consumption expenditures price index, the Federal Reserve's preferred measure of inflation.

  3. Sector-Specific Movements:

    • The Nasdaq Composite increased by 0.5% to 17,805.2, while the S&P 500 went up 0.2% to 5,477.9.

    • The Dow Jones Industrial Average was almost unchanged at 39,127.8.

    • Consumer discretionary led the gains among sectors, while energy saw the biggest decline.

  4. Stock-Specific Action:

    • FedEx shares surged nearly 16%, making it the best performer on the S&P 500, after the company provided positive earnings guidance for fiscal 2025 late Tuesday.

    • Meanwhile, Moderna shares fell 11%, the biggest drop on both the S&P 500 and the Nasdaq.

Other Asset Classes

  1. Treasury Yields:

    • On Wednesday, the US 10-year yield rose by 8.9 basis points to 4.33%, while the two-year rate increased by six basis points to 4.75%.

  2. Currency:

    • The dollar index hovered near a two-month high, steady at 106.05.

  3. Commodities:

    • US WTI crude oil was nearly unchanged, up by 0.1% to $80.91 per barrel, while Brent crude oil futures fell 30 cents, or 0.4%, to $84.17 per barrel.

    • Gold fell 0.9% to $2,309 per troy ounce, while silver dropped 0.4% to $28.76 per ounce.

Asian Markets

  1. General Trends:

    • Stocks in Japan and Australia fell alongside Hong Kong equity futures, as regional shares slipped after two days of gains.

  2. Specific Index Performance:

    • Japan's benchmark Nikkei average opened down 0.59% at 39,434.47, while the broader Topix fell 0.36% to 2,792.73.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a negative opening for the Indian market, down by about 50 points.

    • The focus will be on rollover data as today is the June month's F&O expiry. Volatility is likely to increase due to Nifty quarterly rebalancing.

  2. Nifty Short-Term Outlook:

    • Nifty closed at 23868, just 140 points short of 24000, with heavyweights driving gains.

    • Sector rotation is expected ahead of the monthly expiry and upcoming Budget.

    • Nifty Energy and Infra indices rose over 1%, while Nifty Bank and FMCG increased by 0.5%.

    • Top gainers in energy were Reliance Industries, NTPC, and BPCL, whereas Nifty Metal and Realty declined by over 1%, dragged by Tata Steel, Vedanta, and Hindalco.

    • The short-term trend for the Nifty remains positive, with momentum indicators like RSI and MACD showing no weakness.

    • Investors should be cautious of possible profit booking days.

  3. Intraday Levels:

    • Nifty: Intraday resistance is situated at 23,980, followed by 24,050 levels. Conversely, downside support is located at 23,680, followed by 23,750.

    • Bank Nifty: Intraday resistance is positioned at 53000, followed by 53,200, while downside support is found at 52,650 followed by 52,375.

    • Fin Nifty: Intraday resistance is positioned at 23,800 followed by 24,000, while downside support is found at 23,400 followed by 23,285.

Derivative Market Analysis

  1. Nifty:

    • The highest call option writing is strong at the 24000 level, followed by 24500, with immediate resistance at 24000.

    • The highest put writing is at 23000, followed by 23500, with base formation at 23500, 23600, and 23700, indicating support around 23500 for the upcoming expiry.

    • A move above 23900 could see Nifty rally to 24000-24200, while breaching 23800 might push it to 23500.

    • The put-call ratio has decreased by 0.07 to 1.31.

  2. Bank Nifty:

    • The highest call writing for Bank Nifty is at the 53000 level, followed by 54000, suggesting these as crucial resistance points.

    • The highest put writing is at the 52000 level, with significant put option open interest addition at 52500, indicating near-term support.

    • If Bank Nifty moves above 53000, it could rally to 53500, while breaching 52500 may lead it to touch 52000.

    • The put-call ratio has decreased by 0.55 to 1.06.

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.

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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.

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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.

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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?

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.

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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?

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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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