BAJAJ BROKING

Notification
No new Notification messages
Quality Power Electrical Equipments IPO is Open!
Apply for the Quality Power Electrical Equipments IPO through UPI in just minutes.
Q3 FY'25 Results of Top Companies!
From Reliance Industries to TCS to HDFC Bank, check out the latest quarterly results with financial highlights, key performance metrics, and more!
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 | Gift Nifty Hints At A Flat Opening, Consolidation Likely

Synopsis:

Today’s share market features how Adani Power, Yatharth Hospital, Wipro, and Zaggle announce key growth moves. DoT may waive spectrum bank guarantees; FIIs sell ₹4,613.65 crore while DIIs buy ₹4,518.28 crore in equities, balancing market dynamics.

Latest Market News

1. Adani Power signs a power supply agreement with Maharashtra State Electricity Distribution Company.

2. ⁠YatharthHospital acquires a 60% stake in MGS Infotech for ₹91.2 cr.

3. ⁠Wipro collaborates with Microsoft & SAP to accelerate RISE with SAP migration at near-zero cost. The collaboration aims to deliver clients a seamless transition to RISE with SAP on the Microsoft Cloud.

4. ⁠Zaggle prepaid: The Board approves a fund raise of up to ₹950 cr via QIP.

5. ⁠DoT in favour of waiving spectrum bank guarantees, move to help Vodafone Idea, takes a favourable view on waiving bank guarantees for spectrum up to 2022.

6. ⁠FIIs net sell ₹4,613.65 cr while DIIs net buy ₹4,518.28 cr in equities yesterday.

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

US Share Market News

  1. Performance Overview:

    • US benchmark equity indexes closed lower Wednesday as traders parsed the latest corporate earnings and economic data, including a report showing slower-than-projected economic growth in the third quarter.

  2. Sector-Specific Movements:

    • The Nasdaq Composite fell 0.6% to 18,607.9, retreating from Tuesday's record close. The S&P 500 dropped 0.3% to 5,813.7, while the Dow Jones Industrial Average lost 0.2% to 42,141.5. Technology saw the steepest decline among sectors, while communication services led the gainers.

  3. Economic Indicators:

  • In economic news, US real gross domestic product grew at an annual rate of 2.8% in the September quarter. The consensus was for a 2.9% gain in a survey compiled by Bloomberg.

Other Asset Classes

  1. Treasury Yields:

    • The US two-year yield increased 5.5 basis points to 4.17% on Wednesday, while the 10-year rate gained 2.4 basis points to 4.3%.

  2. Currency:

    • The dollar index was little changed at 104.243.

  3. Commodities:

    • West Texas Intermediate crude oil rose 2.6% to $68.98 a barrel on wednesday & Brent crude futures settled up by 2.01%, at $72.55.

    • Gold increased 0.6% to $2,797 per troy ounce, while silver fell 1.6% to $33.88 per ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific markets slipped Thursday as investors look to the Bank of Japan's rate decision, as well as key business activity figures from China.

  2. Specific Index Performance:

    • Japan's benchmark Nikkei 225 fell 0.33%, while the broad based Topix slipped 0.36%.

    • South Korea's Kospi was 1.33% lower, leading losses in Asia, while the small cap Kosdaq was down 1.25%.

    • Australia's S&P/ASX 200 started the day 0.2% lower.

    • However, futures for Hong Kong's Hang Seng index stood at 20,511, pointing to a stronger open compared to the HSI's close of 20,380.64.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gift Nifty suggests a flat opening for the Indian markets and is likely to consolidate in the broad range of 24,000 -24,700.

  2. Market in Previous Session:

    • Benchmark indices ended in the red today, reversing a two-day gaining streak.

    • At the close, the Sensex fell by 426.85 points, or 0.53%, settling at 79,942.18, while the Nifty declined by 126 points, or 0.51%, ending at 24,340.80.

    • The small-cap and mid-cap indices showed resilience, with the small-cap index gaining about 1% and the mid-cap index up by 0.13%.

    • Sectoral performance showed a mixed trend today. FMCG, capital goods, and media sectors gained between 0.5% and 2% due to selective buying, while banking, pharma, and IT sectors each fell around 1%, contributing to the broader market decline.

  3. Nifty Short-Term Outlook:

    • Index has been consolidating in broad range between 24,000- 24,500 since last few trading sessions due to mixed trends in heavyweights. This consolidation can extend further as index trades near its crucial 100 day EMA.

    • Key supports have shifted higher towards 24,150-24,200 zone.

    • Also, a positive crossover in the hourly momentum indicator suggests a high probability that the countertrend pullback rally may persist over the next few trading sessions provided we break the higher side of the range.

    • If the index holds above key supply area of 24,500-24,520, then an upward move toward the 24,750–24,800 range will be in play.

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 24,463 followed by 24,573 levels. Conversely, downside support is located at 24,272, followed by 24,194.

    • Bank Nifty: Intraday resistance is positioned at 52,135, followed by 52,421, while downside support is found at 51,648, followed by 51,447.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI is noted at the 25,000 level, while immediate call OI is observed at 24,500, which will act as resistance for this monthly expiry.

    • On the flip side, major put OI is noted at the 24,000 level, followed by 24,300, which will act as crucial support levels.

    • A dominance of call OI addition is observed across the strikes from 24,400 to 24,600, indicating limited upside with multiple resistance levels. Surpassing this level may trigger short covering.

    • The Nifty put-call ratio declined by 0.11 and is now positioned at 0.91.

  2. Bank Nifty:

    • Accumulation of both call and put OI is observed at the 52,000 level, suggesting a deciding level for the day and indicating a straddle formation.

    • The highest call OI is noted at the 53,000 level, followed by 52,500, which will act as resistance. On the downside, crucial support is noted at 51,500.

    • If the price surpasses and holds above 52,000, short covering could likely occur. Conversely, if the price breaches below 52,000, it may indicate a loss of momentum.

    • The Bank Nifty put-call ratio declined by 0.26 and is positioned at 1.08.

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

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

9 Lacs+ Users

icon-with-text

4.1+ App Rating

icon-with-text

4 Languages

icon-with-text

₹5100+ Cr MTF Book

icon-with-text