BAJAJ BROKING

Notification
No new Notification messages
Vishal Mega Mart IPO is Open!
Apply for the Vishal Mega Mart IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Share Market Today | Gifty Nifty Lower Amid Mixed Global Cues

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

0:00 / 0:00

Synopsis:

Today’s latest market updates feature ITD Cementation’s ₹1,237 Cr residential colony project in New Delhi, Cyient DLM’s new contract from Boeing, PCBL Group’s plan to spend over ₹50,000 Cr capex in the next 3 years, Carlyle Group’s 6.4% stake sale in PNB Housing Finance, plus other global market news.

Latest Market News

  1. ITD Cementation has secured a ₹1,237 crore order to build a residential colony in New Delhi.
  2. Cyient DLM has won a contract from Boeing to supply a battery diode module for the 787 Dreamliner.
  3. Sanjiv Goenka of PCBL announces the group is targeting a capital expenditure of ₹50,000 crore over the next three years.
  4. Carlyle Group Quality Investment Holdings PCC plans to sell up to a 6.4% stake in PNB Housing Finance via block deals, with an offer size of ₹1,255.6 crore and a floor price of ₹755 per share.
  5. FIIs net sold ₹2,474.54 crore in equities, while DIIs net bought ₹5,665.54 crore yesterday.

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

US Share Market News

  1. Performance Overview:
    • In the US, the three major indexes ended mixed.
    • The S&P 500 edged up slightly as Wall Street prepared for a busy week of corporate earnings and anticipated a key policy announcement from the US central bank.
  2. Sector-Specific Movements:
    • The broad market index gained 0.08%, the Nasdaq Composite rose 0.07%, and the Dow Jones Industrial Average fell 0.12%.
  3. Economic Indicators:
    • Economists don't expect the Fed to change the federal funds rate during this meeting. However, traders will look for hints about a potential rate cut in September 2024.
    • CME FedWatch showed traders pricing in a 25 basis point cut by the Fed in September.
  4. Corporate Earnings:
    • This week, earnings reports from major companies like Microsoft and Apple are anticipated on Tuesday and Thursday, respectively.
    • Other tech giants, including Meta Platforms, Advanced Micro Devices, and Amazon, will also report earnings throughout the week.

Other Asset Classes

  1. Treasury Yields:
    • US Treasury yields fell on Monday. The yield on the 10-year Treasury dropped by 3 basis points to 4.168%.
  2. Currency:
    • The dollar edged up on Monday as traders prepared for a busy week of news, including policy decisions from the Federal Reserve and Bank of Japan on Wednesday, followed by the July US employment report on Friday. The dollar index rose 0.2% to 104.57.
  3. Commodities:
    • US crude oil futures fell more than 1.5% on Monday due to concerns about slow growth in China. The WTI September contract dropped 1.75% to $75.81 per barrel, and the Brent September contract fell 1.66% to $79.78 per barrel.
    • Gold prices retreated on Monday, pressured by a stronger dollar as investors looked ahead to the US Federal Reserve policy meeting for any hints on interest rate cuts. Spot gold fell 0.1% to $2,382.40 per ounce.

Asian Markets

  1. General Trends:
    • Asia-Pacific markets fell across the region on Tuesday as the Bank of Japan started its two-day monetary policy meeting.
  2. Specific Index Performance:
    • Japan’s Nikkei 225 slid 0.57%, while the broad-based Topix dropped 0.56%.
    • South Korea’s Kospi fell 0.73%, while the small-cap Kosdaq saw a smaller loss of 0.4%.

India Market Outlook

  1. GIFT Nifty Projection:
    • Gift Nifty indicates a soft opening for the Indian market amid mixed global cues.
    • After a flat to negative opening, Nifty is likely to consolidate in the range of 24,720-24,970.
  2. Market in Previous Session:
    • Benchmark indices were highly volatile, trading in a range and closing flat.
    • Nifty opened positively and nearly reached 25,000 but closed flat at 24,836 due to profit booking.
    • Bank Nifty closed marginally higher at 51,406, up 0.2%.
    • Broader markets rose, with Nifty Midcap and Small Cap gaining 1.1% and 1%, respectively.
    • Media, PSU Bank, Realty, and Oil & Gas stocks were major gainers.
  3. Nifty Short-Term Outlook:
    • The index is expected to maintain a positive bias and head towards 25,200, the 138.2% external retracement of the recent range (24,854-24,074).
    • Immediate downside support is at 24,400, the confluence of last Friday's low and the 20-day EMA.
  4. Intraday Levels:
    • Nifty: Intraday resistance is at 24,900, followed by 24,970 levels. Conversely, downside support is located at 24,750, followed by 24,650.
    • Bank Nifty: Intraday resistance is positioned at 51,750, followed by 51,980, while downside support is found at 51,180, followed by 50,970.
    • Fin Nifty: Intraday resistance is positioned at 23,430, followed by 23,520, while downside support is found at 23,220, followed by 22,120.

Derivative Market Analysis

  1. Nifty:
    • The highest put OI is at 24,000, followed by 24,500, while the highest call OI is at 25,500, followed by 25,000.
    • Significant put OI addition occurred at 24,000, and call OI addition was seen at 25,000, 25,200, and 25,000.
    • Major call OI addition above 25,000 indicates strong resistance. Immediate support is at 24,500, and resistance is at 25,000.
    • If the index breaks 25,000, it could move towards 25,200.
    • The Nifty put-call ratio dropped by 0.22 to 1.14.
  2. Bank Nifty:
    • The highest put OI is at 50,000, and the highest call OI is at 53,000.
    • Immediate put OI concentration is at 51,000, while call OI concentration is at 51,500.
    • Put OI addition was seen at 50,200, and call OI addition was observed at 53,000.
    • Call OI addition above 51,500 indicates strong resistance. Immediate support is at 51,000, with important resistance at 51,500.
    • If the index breaks 51,500, it may reach 52,000.
    • The Bank Nifty put-call ratio decreased by 0.16 to 0.71.
  3. Fin Nifty:
    • Immediate support for Fin Nifty is at 23,000 due to strong put OI concentration, while high call OI concentration at 23,600 makes it a crucial resistance level.
    • If the index moves below 23,000, it may drop to 22,800.
    • If it crosses above 23,500, it could move towards 23,800.
    • Resistance levels at 23,700 and 23,800 are crucial if Fin Nifty sustains above 23,600.

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: https://bit.ly/3Tcsfuc

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.

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.

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

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text