Share Market Today | GIFT Nifty Climbs Amid Global Market Strength

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00


Today’s latest market updates include JSW Port Logistics acquiring Navkar Corp stake, Jio hiking tariffs by 12-25%, SEBI tightening F&O rules, GTI Capital Alpha selling Samhi Hotels 3% stake, RBL Bank's ₹3,500 Cr QIP, Ambuja Cements-Adani Cementation merger, plus other global market news.

Latest Market News

  1. JSW Port Logistics, part of JSW Infra, will acquire a majority stake in Navkar Corporation.

  2. Ambuja Cements' board has approved the merger of Adani Cementation with the company.

  3. RBL Bank's board has approved raising up to ₹3,500 crore through QIPs in multiple tranches via debt securities.

  4. Reliance Jio will increase tariffs by 12-25% starting July 3.

  5. SEBI has approved stricter rules for entry and exit in single stock futures and options.

  6. GTI Capital Alpha is likely to sell a 3% stake in Samhi Hotels through a block deal.

  7. Promoters may sell up to a 2.04% stake in Polycab via a block deal.

  8. A block deal involving 0.46% equity worth ₹1,757 crore is expected in HCLTech on June 28.

  9. AU Small Finance Bank plans to raise up to ₹5,000 crore via QIPs and other methods, and up to ₹6,000 crore by issuing debt instruments.

  10. The US Q1 GDP growth rate was finalised at 1.4%, slightly higher than the estimated 1.3%.

  11. FIIs were net buyers of ₹7,658.77 crore in equities, while DIIs were net sellers of ₹3,605.93 crore yesterday.

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

US Share Market News

  1. Performance Overview:

    • On Thursday, the US benchmark equity indexes closed higher after a Federal Reserve official indicated that monetary policy easing is still likely this year, while markets assessed the latest economic data.

  2. Economic Indicators:

    • The US economy grew at a 1.4% annualised rate in the first quarter, up from the previously projected 1.3%, according to the Bureau of Economic Analysis’s third estimate.

    • Investors are now focused on the Commerce Department's much-anticipated Personal Consumption Expenditures (PCE) report.

  3. Sector-Specific Movements:

    • The Nasdaq Composite rose 0.3% to 17,858.7. The Dow Jones Industrial Average and the S&P 500 each advanced 0.1% to 39,164.1 and 5,482.9, respectively.

    • Real estate and consumer discretionary sectors led the gains, while consumer staples significantly declined.

Other Asset Classes

  1. Treasury Yields:

    • The US 10-year yield fell three basis points to 4.29%, while the two-year rate dropped 3.5 basis points to 4.71%.

  2. Currency:

    • The US dollar index is 0.2% stronger at 106.07, marking a 1.5% rise for the quarter.

  3. Commodities:

    • Brent crude oil futures rose by 0.24% to $86.60 a barrel, while US West Texas Intermediate crude futures gained 0.29% to $81.97 per barrel.

    • Gold increased by 1% to $2,336.30 per troy ounce, while silver remained flat at $29.26 per ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets climbed on Friday morning as investors assessed key economic data from Japan and awaited the US inflation reading later in the day.

  2. Specific Index Performance:

    • Japan's Nikkei 225 rebounded 0.6% after the data release, while the broad-based Topix rose 0.66%.

    • South Korea's Kospi edged up, and the small-cap Kosdaq was trading just above the flatline.

    • Australia's S&P/ASX 200 gained 0.63%.

    • In contrast, Hong Kong Hang Seng index futures were at 17,524, lower than the HSI's last close of 17,716.47. The index had hit a near two-month low on Thursday.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty indicates a positive opening for the Indian market, up by 65 points.

  2. Nifty Short-Term Outlook:

    • On June 27, Indian benchmark indices rallied for the fourth consecutive session, with Nifty crossing 24,000 for the first time, closing at 24,044.5.

    • IT and Power indices rose 1.7% each, while the PSU Bank index fell 1%.

    • The short-term trend for Nifty remains positive, having surpassed the previous resistance range of 23,400-23,500.

    • The market witnessed a perpendicular rally of about 700 points in four sessions, indicating an overstretched move.

    • A long bull candle on the daily chart suggests continuing momentum, though profit-booking days are possible.

    • Investors are advised to buy on dips, with a trailing stop loss at 23,800 on a closing basis.

    • Momentum indicators RSI and MACD show no signs of weakness.

  3. Intraday Levels:

    • Nifty: Intraday resistance is situated at 24,150, followed by 24,240 levels. Conversely, downside support is located at 23,680, followed by 23,750.

    • Bank Nifty: Intraday resistance is positioned at 53200, followed by 53,650, 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 at the 25,000 level, followed by 24,000, with immediate resistance at 24,200.

    • The highest put writing is at 24,000, followed by 23,500, with strong put option addition at 23,500 and 23,800 suggesting limited downside expectations.

    • If Nifty crosses 24,200, a rally towards 24,500 is expected.

    • The straddle at 24,000 is strong and trend-deciding; any move above or below it could cause sharp index movement.

    • The Nifty put-call ratio has increased by 0.18, now at 1.49.

  2. Bank Nifty:

    • The highest call writing for Banknifty is seen at the 53,000 level, followed by 54,000, making these levels crucial resistances.

    • The highest put writing is also at the 53,000 level, followed by 52,000, with strong put option open interest addition at 52,500 indicating near-term support.

    • The straddle at 53,000 is strong and acts as a trend-deciding level. Any move above or below it could cause significant index movement.

    • The Bank Nifty put-call ratio has decreased by 0.09, now positioned at 0.97.

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.

For All Disclaimers Click Here:

Share this article: 

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.

Why should I consider investing in the stock market?

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.

How can I start investing in the stock market?

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.

What factors should I consider before investing in stocks?

Answer Field

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.

How do I stay informed about daily market happenings?

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?

Answer Field

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.

No Result Found

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users


4.3+ App Rating


4 Languages


₹4300 Cr MTF Book