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Share Market Today | GIFT Nifty Negative Amid Mixed Global Cues

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Synopsis:

Today’s latest market updates feature Medi Assist Healthcare's subsidiary’s plan to acquire Paramount TPA for ₹311.8 Cr, Senco Gold anticipates up to 18% growth in Q2, GPT Infraprojects’s QIP at ₹183.83 per share, KPI Green Energy's subsidiary’s new 13.30 MW solar projects, plus other global market news.

Latest Market News

  1. Medi Assist Healthcare's subsidiary is set to acquire Paramount TPA for ₹311.8 crore.

  2. Senco Gold's CEO anticipates up to 18% growth in Q2 due to gold duty cuts.

  3. GPT Infraprojects has launched a QIP with a floor price of ₹183.83 per share.

  4. KPI Green Energy's subsidiary has secured orders for 13.30 MW solar projects.

  5. FIIs net bought ₹483.36 crore, while DIIs net bought ₹1,870.22 crore in equities.

MEDI ASSIST HEALTH SER L

Trade

609.1-0.25 (-0.04 %)

Updated - 13 December 2024
632.00day high
DAY HIGH
608.45day low
DAY LOW
22295
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • The Dow closed at record highs on Monday, as investors shifted focus from tech stocks to cyclical sectors like financials, anticipating a widely expected Federal Reserve rate cut next month.

  2. Sector-Specific Movements:

    • The Dow Jones Industrial Average gained 0.16%, or 65 points, reaching a new record of 41,240.52.

    • Meanwhile, the NASDAQ Composite dropped 0.8%, and the S&P 500 slipped 0.3%.

    • Tech stocks started the week on a weaker note, with investors moving away from growth sectors.

    • Nvidia fell 2.3% ahead of its quarterly results due later this week.

  3. Economic Indicators:

    • This week, the market will closely monitor the Commerce Department's revised second-quarter GDP and the Personal Consumption Expenditures (PCE) report, which includes the Fed's preferred inflation measure, the PCE price index.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year Treasury yield edged up slightly on Monday, rising by 1 basis point to 3.816%, while the 2-year Treasury yield increased by 2 basis points to 3.936%.

  2. Currency:

    • After last week's decline, the US Dollar Index Futures closed Monday slightly higher, up 0.17% at 100.78.

  3. Commodities:

    • US crude oil futures surged 3% on Monday, marking the best day in two weeks, amid reports of a production halt in Libya and escalating conflicts in the Middle East. The West Texas Intermediate October contract rose 3.46% to $77.42 per barrel, while the Brent October contract increased by 3.05% to $81.43 per barrel.

    • Gold prices strengthened on Monday, approaching their recent record high, as expectations of a September interest-rate cut grew following dovish comments from Federal Reserve Chair Jerome Powell, and safe-haven demand increased due to geopolitical risks in the Middle East. Spot gold rose 0.3% to $2,518.47 per ounce, just below the record high of $2,531.60 set last week.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets mostly declined on Tuesday, despite the Dow Jones Industrial Average reaching new highs on Wall Street.

    • Traders in Asia are also keeping an eye on China’s year-to-date industrial profits as of July.

  2. Specific Index Performance:

    • Japan’s Nikkei 225 slipped 0.35%, while the broad-based Topix remained flat.

    • South Korea’s Kospi fell 0.42%, and the small-cap Kosdaq saw a larger loss of 1.14%.

India Market Outlook

  1. GIFT Nifty Projection:

    • GIFT Nifty indicates a flat to negative opening for the Indian market amid mixed global cues. In today's session, Nifty is likely to consolidate within the range of 24,870 to 25,150.

  2. Market in Previous Session:

    • The benchmark indices continued their upward streak for the eighth consecutive session, driven by strong global cues.

    • The Nifty index surpassed the 25,000 mark, closing at 25,010, up by 0.76%.

    • The Sensex also saw a significant gain of 611 points, or 0.75%, finishing at 81,698.

    • Bank Nifty closed with a 0.42% increase at 51,148.

    • The broader market maintained a positive trend, with gains of 0.7% and 0.3% across various segments.

    • All major sectoral indices ended in the green, led by Information Technology, Metal, and Oil & Gas sectors, which rose by 1.2% to 2.2%.

  3. Nifty Short-Term Outlook:

    • On the daily charts, the Nifty formed a bullish candle with higher highs and lows, indicating the continuation of its upward momentum.

    • The index has gained for eight consecutive sessions.

    • Moving forward, the Nifty is expected to test its all-time high of 25,078 in the coming sessions.

    • If it manages a sustained close above this level, it could rise further towards 25,400, which corresponds to the 123.6% external retracement of the recent correction (from 25,078 to 23,894).

    • The Nifty has support in the 24,600-24,800 range, which aligns with the recent gap-up area and the 20-day Exponential Moving Average (EMA).

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 25,080, followed by 25,150 levels. Conversely, downside support is located at 24,950, followed by 24,870.

    • Bank Nifty: Intraday resistance is positioned at 51,390, followed by 51,630, while downside support is found at 51,000, followed by 50,830.

    • Fin Nifty: Intraday resistance is positioned at 23,480, followed by 23,600, while downside support is found at 23,300, followed by 23,210.

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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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?

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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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