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Share Market Today | GIFT Nifty Positive, Indicates 60-Point Gap-Up

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Synopsis:

Today’s latest market updates feature the inclusion of Trent and Bharat Electronics in Nifty 50 replacing Divi's Lab and LTIMindtree, ONGC begins production from its 5th oil well, Alembic Pharma’s USFDA approval for scalp treatment foam, Ashoka Buildcon wins ₹478 Cr MMRDA project, plus other global market news.

Latest Market News

  1. Tata Group's Trent and Bharat Electronics will join the Nifty 50 index, replacing Divi's Laboratories and LTIMindtree, as part of the exchange's semi-annual update.

  2. ONGC has started production from its 5th oil well in the KG-DWN-98/2 Cluster-2 asset of the Krishna Deepwater Block.

  3. Alembic Pharma has received USFDA approval for Betamethasone Valerate Foam, which treats scalp skin conditions.

  4. Ashoka Buildcon has been named the lowest bidder for a Mumbai Metropolitan Region Development Authority (MMRDA) project worth ₹478 crore.

  5. GQG Partners purchased 2.7 crore shares (1.1% equity) of Ambuja Cements at ₹625.50 per share, totalling ₹1,679 crore.

  6. JSW Energy's subsidiary, JSW Neo Energy, received a Letter of Award (LoA) for a 250 MW grid-connected wind power project from Adani Electricity Mumbai.

  7. On Friday, FIIs net bought ₹1,944.48 crore and DIIs net bought ₹2,896.02 crore in equities.

TRENT LTD

Trade

7000.25-12.25 (-0.17 %)

Updated - 13 December 2024
7027.90day high
DAY HIGH
6870.00day low
DAY LOW
526964
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • US benchmark equity indexes rose on Friday after Federal Reserve Chair Jerome Powell hinted that the 'time has come' for easing monetary policy.

  2. Sector-Specific Movements:

    • The Nasdaq Composite surged 1.5% to 17,877.8, while the S&P 500 climbed 1.2% to 5,634.6.

    • The Dow Jones Industrial Average increased 1.1% to 41,175.1, with all sectors closing higher, led by a 2% jump in real estate.

    • For the week, the S&P 500 gained 1.5%, the Nasdaq was up 1.4%, and the Dow advanced by 1.3%.

  3. Economic Indicators:

    • New home sales in the US saw a double-digit increase in July, even as national median prices rose for the second consecutive month.

    • Powell noted that 'the direction is clear, but the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.'

Other Asset Classes

  1. Treasury Yields:

    • The US two-year yield fell by 10.3 basis points to 3.91%, while the 10-year rate dropped 6.7 basis points to 3.8%.

  2. Currency:

    • The dollar index decreased to a 13-month low of 100.56. Over the past 4 weeks, it has lost 3.57%; in the last 12 months, it has declined by 3.46%.

    • The Japanese yen strengthened by 0.51% to 143.64, its strongest level since the August 5 Nikkei sell-off.

  3. Commodities:

    • West Texas Intermediate crude oil rose 2.6% to $74.91 per barrel on Friday, while Brent crude traded at $79.53 per barrel.

    • Gold increased by 1.2% to $2,546.40 per ounce, while silver jumped 2.8% to $29.85 per ounce.

Asian Markets

  1. General Trends:

    • Investors in Asia weighed dovish comments from US Federal Reserve Chairman Jerome Powell and rising Middle East tensions, as Israel and Hezbollah exchanged strikes.

    • China's central bank will announce its medium-term lending rate on Monday, while Singapore is set to release its manufacturing data for July.

  2. Specific Index Performance:

    • Japan's Nikkei 225 slipped 1.09% in early trading, while the Topix was down 1.02%.

    • South Korea's Kospi gained 0.22%, while the small-cap Kosdaq inched up 0.19%.

    • Australia's S&P/ASX 200 began the day up 0.34%.

    • Hang Seng index futures were at 17,733, higher than the previous close of 17,612.1.

India Market Outlook

  1. GIFT Nifty Projection:

    • GIFT Nifty indicates a positive opening of about 60 points for the Indian markets. After a positive start, Nifty will likely consolidate within a range of 24,720 to 25,000.

  2. Market in Previous Session:

    • On August 23rd, Indian indices ended with a slight positive bias in range-bound trading as investors were cautious ahead of Fed Chair Powell's comments.

    • The Sensex gained 33.02 points to close at 81,086.21, while the Nifty edged up by 11.65 points to finish at 24,823.15.

    • Over the week, the BSE Sensex rose by 0.8%, and the Nifty50 increased by 1%.

    • Sector-wise, the auto index gained 1%, while metal, realty, media, PSU Bank, and IT sectors fell by 0.5-2.5%.

  3. Nifty Short-Term Outlook:

    • Looking ahead, the index is expected to maintain a positive bias and could move towards the all-time high of 25,078 in upcoming trading sessions.

    • A sustained close above this level may lead to further gains towards 25,400, which represents a 123.6% external retracement of the recent pullback from 25,078 to 23,894.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 24,870, followed by 24,960 levels. Conversely, downside support is located at 24,690, followed by 24,580.

    • Bank Nifty: Intraday resistance is positioned at 51,210, followed by 51,430, while downside support is found at 50,670, followed by 50,450.

    • Fin Nifty: Intraday resistance is positioned at 23,330, followed by 23,450, while downside support is found at 23,130, followed by 23,000.

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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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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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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