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Share Market Today | Gift Nifty Hints At A Positive Start For The Indian Market

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Synopsis:

Today’s share market features how Edel Finance and Ecap Equities plan to sell a 6.4% stake in Nuvama Wealth. Authum and Mahi Kela to acquire a controlling stake in Prataap Snacks. Swiggy files for ₹3,750 crore IPO. Adani Green partners with TotalEnergies in a $444 million JV. Union Bank braces for strike disruption.

Latest Market News

1. Edel Finance and Ecap Equities to sell 6.4% equity in Nuvama Wealth Management via block deals, floor price for the deal is at ₹6,455/sh, at a 5% discount to CMP on NSE.

2. ⁠Prataap Snacks Acquisition: Authum Investment, Mahi Kela to acquire a controlling stake.

3. ⁠Swiggy files ₹3,750 crore IPO to expand quick commerce and pay off debt.

4. ⁠Adani Green and TotalEnergies finalise a $444-million JV for Gujarat solar projects.

5. ⁠Union Bank faces disruption as 7% of the workforce is set for strike tomorrow.

6. ⁠Piramal Enterprises - Arm Piramal Capital & Housing Finance sell immovable property comprising of land and buildings situated at Santacruz East, Mumbai Property for ₹187 crores.

7. ⁠RITES consortium emerges as lowest bidder in a DelhiMetro project worth ₹87.58 cr. RITES share is 49% i.e. ₹42.91 cr in the order.

8. ⁠RailtelCorp bags work order worth ₹155.72 cr from the Rural Development Department, Mantralaya, Maharashtra.

9. ⁠PCJeweller - Bank of India approves the one-time settlement offer (OTS) of the company. With this approval, all 14 consortium banks approved the settlement offer.

10. ⁠CRISIL report: Rising natural rubber prices to hit tyre maker margins, supply deficit may triple

11. ⁠Infosys collaborates with SallyBeauty to bring enterprise-scale IT efficiencies from hyper-automation.

12. ⁠TorrentPharma deny reports that Shelcal500 failed the quality test. The sample seized by CDSCO was not manufactured by firm.

13. ⁠FIIs net buy ₹629.96 cr while DIIs net buy ₹2,405.12 cr in equities yesterday.

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Updated - 12 December 2024
454.50day high
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443.55day low
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In-Depth Market Insights: Global Outlook, Derivatives & More

US Share Market News

  1. Performance Overview:

    • The S&P 500 climbed to another closing record Thursday, as a Micron-led surge in chip stocks and stronger economic data stoked sentiment on stocks.  

    • Chair Jerome Powell didn't deliver any notable comments on monetary policy on Thursday, though Treasury Secretary Janet Yellen said the labor market suggests that the economy is on a path to a soft landing.

  2. Sector-Specific Movements:

    • The S&P 500 rose 0.5% to a closing record of 5,743.73. The NASDAQ Composite gained 0.6%, and the Dow Jones Industrial Average rose 280 points, or 0.7%. 

    • Micron surged nearly 15% to lead chip stocks and the broader market higher after the memory chip delivered blowout guidance for the current quarter following fiscal fourth-quarter results that topped Wall Street estimates.

  3. Economic Indicators:

    • On the economic front, investors cheered signs that the economy is in good share as durable goods orders unexpectedly rose in August, while jobless claims fell more than expected.  

    • The duo of positive data came a day ahead of the PCE price index data -- the Fed’s preferred inflation gauge --  and is likely to factor into the central bank’s plans for rates. 

Other Asset Classes

  1. Treasury Yields:

    • U.S. Treasury yields rose on Thursday as investors assessed fresh jobless claims data. The yield on the 10-year Treasury added 1.1 basis points at 3.791%.

  2. Currency:

    • The dollar weakened in choppy trading on Thursday after a boost from healthy U.S. economic data faded, while the Swiss franc rose after the country’s central bank cut interest rates by 25 basis points. The dollar index fell 0.42% to 100.42.

  3. Commodities:

    • U.S. crude oil prices fell nearly 3% on Thursday on a report that Saudi Arabia is committed to pressing ahead with production increases later this year. Brent November contract: $71.60 per barrel, down 2.53%.

    • Silver rose to its highest level in nearly 12 years on Thursday on interest rate cuts by major central banks.

    • Spot silver was 0.7% up at $32.06 per ounce. Spot gold, meanwhile, was up 0.6% at $2,673.06 per ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets mostly rose Friday, with Chinese stocks likely set to cap off a week of gains on the back of Beijing’s stimulus measures aimed at boosting the economy.

  2. Specific Index Performance:

    • China will release its industrial profit data later in the day, this will be on a year-to-date basis through August and investors will have to wait for the next batch of data to assess the effects of Tuesday’s stimulus measures.

    • Japan’s Nikkei 225 rose 0.52%, while the broad-based Topix was down 0.23% after the CPI reading was announced. South Korea’s Kospi was down 0.18%, while the small-cap Kosdaq was 0.15% lower.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a positive opening for the Indian market amid a firm global market. Nifty spot in today's session is likely to consolidate in the range of 26100-26350.

  2. Market in Previous Session:

    • Indian benchmark indices witnessed a strong rally on the monthly expiry session and closed the session at a fresh all-time high. Nifty started the session on a positive note and thereafter the index consolidated in a range in the midsession. However, the last half an hour of buying helped the market to climb to a new high.

    • The Sensex formed a fresh all-time high of 85930 and closed at 85836 up by 0.78%. The Nifty formed a fresh all-time high of 26250 and closed the session up by 211 points or 0.81% at 26216.

    • Bank Nifty traded with a positive bias close the session higher by 0.51% at 54375 levels. The broader market traded in a range as midcap and small-cap closed lower by 0.1% and 0.5% respectively.

    • Metals, Auto, Financials, and FMCG were the major gainers while the Consumer and healthcare stocks were the major draggers.  

  3. Nifty Short-Term Outlook:

    • Index in the monthly expiry session formed a strong bull candle with a higher high-low highlighting the extension of the up move.

    • Index on Thursday's session generated a breakout above the upper band of the rising channel highlighting the acceleration of the up move. Nifty post breakout above 26050 has rallied higher and almost tested our target area of 25300.

    • In the coming session, a move above Thursday's high (26250) will open further upside 26550 levels.

    • Key support is revised higher towards 25700-25800,  being the confluence of the 10-day EMA and the 38.2% retracement of the current rally (25286-26050).

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 26,300 followed by 26,370 levels. Conversely, downside support is located at 26,110, followed by 26,000.

    • Bank Nifty: Intraday resistance is positioned at 54,650, followed by 54,850, while downside support is found at 54,180, followed by 53,900.

    • Fin Nifty: Intraday resistance is positioned at 25,230, followed by 25,350, while downside support is found at 25,010, followed by 24,900.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI is positioned at 27000 followed by the 26200 level, whereas the highest put OI is positioned at 26000 followed by the 25500 level. 

    • Put OI addition was seen at 26000, 26100 and 26200 strikes indicating stiff support at lower levels. If 26200 is broken, Nifty can march towards 26000.

    • According to option chain analysis, the broader range for Nifty is 26000 and 27000

    • The Nifty put-call ratio increased by 0.04 and is now positioned at 1.37.

  2. Bank Nifty:

    • The highest call OI is positioned at 54000 followed by the 55000 level, whereas the highest put OI is positioned at 54000 followed by the 53500 level. 

    • Put OI addition was seen at 54200 indicating supports at lower levels. On the higher end, call OI addition was seen at 55000 indicating strong resistance. 

    • According to option chain analysis, the straddle formation at 54000 still remains a crucial level to watch for. If it sustains above 54000, an index can march towards 54500. If it breaks then the index can touch 53500.

    • The Nifty put-call ratio increased by 0.12 and is now positioned at 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.

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?

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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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What is the difference between long-term investing and trading in the stock market?

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How can I mitigate risks in the stock market?

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Are there any specific tax implications associated with stock market investments?

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Can I invest in the stock market with a small amount of capital?

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What are government bonds in India, and how do they work?

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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?

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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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