BAJAJ BROKING
October 08, 2024
4 mins read
Today’s share market features how Lemon Tree Hotels signs a license agreement for a 54-room hotel in Udaipur. Bharat Electronics secures ₹500 cr in orders. Ola Electric receives a show-cause notice. Zodiac Energy bags a ₹154.27 cr solar project. Brent crude rises to $80 per barrel.
1. Lemon Tree Hotels signs a license agreement for a 54-room hotel in Udaipur, Rajasthan.
2. Bharat Electronics has secured additional orders worth more than ₹500 cr since September 11, 2024.
3. OlaElectric confirms receipt of show cause notice from the Central Consumer Protection Authority for alleged violation of consumer rights, misleading advertisement and unfair trade practices.
4. Zodiac Energy bags order ₹154.27 Cr from Ahmedabad Municipal Corporation (AMC) for design, supply, installation, testing, and commissioning of grid-tied 30MW ground-mounted solar projects in the state of Gujarat including erection, operation & maintenance for 5 years.
5. Brent crude rises to 80/bbl for the first time since August.
6. HEG say they have bought 8.23% shares of their competitor Graftech International for ₹248 cr.
7. FIIs net sell ₹8,293.41 crore while DIIs net buy ₹13,245.12 crore in equities yesterday.
US Share Market News
Performance Overview:
The S&P 500 slipped lower on Monday, pressured by a rise in Treasury yields after last week's blowout jobs report dented hopes for a jumbo Fed rate cut next month.
the S&P 500 down nearly 1% to 5,695.94 points. The NASDAQ Composite fell 1.2% to 17,926.04 points, while the Dow Jones Industrial Average fell 0.9% to 41,954.24 points. Risk sentiment was dented by fears of an escalation in the Middle East conflict.
Sector-Specific Movements:
Friday’s bumper payrolls reading, while indicating some resilience in the U.S. economy, saw traders drastically scale back expectations for rate cuts by the Fed.
Traders are pricing in an 80.9% chance the Fed will cut rates by 25 basis points in November and a 19.1% chance the central bank will not cut rates at all, CME Fedwatch showed.
The minutes of the Fed's September meeting due Wednesday are likely to provide further clues on rate cuts. The Fed had cut rates by 50 bps during the meeting and marked the start of an easing cycle.
Economic Indicators:
Consumer price index inflation data for September is also due later this week and is likely to factor into expectations for the path of U.S. interest rates.
The third-quarter earnings season is set to start this week, with major banks JPMorgan Chase, Wells Fargo, and Bank of New York Mellon set to report quarterly earnings on Friday.
Other Asset Classes
Treasury Yields:
The 10-year Treasury yield, a benchmark for mortgages and car loans, jumped back above 4% on Monday amid stronger labour market readings and despite the start of a Federal Reserve rate-cutting campaign last month. The 10-year yield was up more than 4 basis points to 4.024%, its highest since early August.
Currency:
The U.S. dollar hovered near a seven-week high on Monday as investors reassessed their positions following Friday’s strong U.S. jobs data and amid rising tensions in the Middle East. The dollar index was flat at 102.53.
Commodities:
U.S. crude oil jumped more than 3% on Monday amid geo-political conflict in the Middle East.
Brent December contract: $80.93 per barrel, up 3.69%.
Gold prices eased on Monday as the U.S. dollar held strong and recent employment data prompted investors to scale back expectations of a big rate cut from the Federal Reserve in November. Spot gold fell 0.4% to $2,640.74 per ounce.
Asian Markets
General Trends:
Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan and as mainland Chinese markets return to trade.
Specific Index Performance:
Chinese investors are looking for more policy direction from China’s top economic planning body on Tuesday when mainland markets return from a week-long holiday.
Economists and traders are closely watching for additional policy measures as Beijing has signalled a sense of urgency in bringing its economy back on track to hit the annual growth target of “around 5%.”
Before the week-long holiday, authorities unveiled a flurry of stimulus policies, including interest rate cuts, lower cash reserve requirements at banks, looser property purchase rules and liquidity support for stock markets.
Chinese major indexes have surged over 25% as investors cheer on the barrage of stimulus measures.
The benchmark Nikkei 225 slipped 0.75% after the release, while the Topix was down 0.88%. South Korea’s Kospi was 0.61% lower.
India Market Outlook
GIFT Nifty Projection:
Gift Nifty suggests a negative opening for the Indian market amid a soft global market. Nifty spot to trade in the range of 24550-25000. Volatility will remain high on account of Geo-political tension and state election result outcome.
Market in Previous Session:
Benchmark indices started the week on a negative note as they declined for the sixth straight session. Nifty started the session on a positive note but failed to sustain at higher levels as it gave up its gains and closed firmly below the 25000 level.
The Sensex was down 638 points or 0.78% at 81,050, and the Nifty was down 218 points or 0.87% at 24,795.80. The Sensex had hit an intraday low of 80726.06 while the Nifty 50 had slipped to 24694.35.
Bank Nifty witnessed extreme volatility and closed the session down by 1.6%. Financial, Media, Metals and Oil & Gas stocks were major draggers. While IT stocks managed to close in the green. The broader market took a beating in yesterday's session, with the Nifty midcap and small-cap indices shedding 2% and 2.64% respectively.
Nifty Short-Term Outlook:
Index has formed a sizable bear candle which maintained a lower high and lower low signalling the continuation of the corrective decline. Index on expected lines extended declines tested last month's low (24753) and closed below the 50-day EMA.
Bias continues to remain down and a follow-through weakness below Monday’s low (24694) will signal an extension of the decline towards 24550 and 24350 levels in the coming sessions.
Nifty needs to start forming higher highs and higher lows in the daily chart to signal a pause in the current corrective trend, failure to do so will keep the bias down. Short-term support is placed at 24350 levels being the confluence of the 100-day EMA and the 80% retracement of the previous up move (23894-26277).
Intraday Levels:
Nifty: Intraday resistance is at 25,000 followed by 25,140 levels. Conversely, downside support is located at 24,660, followed by 24,550.
Bank Nifty: Intraday resistance is positioned at 50,770, followed by 51,050, while downside support is found at 50,000, followed by 49,650.
Derivative Market Analysis
Nifty:
The highest call OI is positioned at 25500 followed by the 25000 level, whereas the highest put OI is positioned at 24000 followed by the 24500 level.
Call OI addition was seen across strikes between 24800 and 25100 indicating stiff resistance at higher levels. Put unwinding at the 25000 level is a positive data point for the index.
According to option chain analysis, a broader range for Nifty is 24500 and 25200.
The Nifty put-call ratio decreased by 0.02 and is now positioned at 0.67.
Bank Nifty:
The highest call OI is positioned at 53000 followed by the 52000 level, whereas the highest put OI is positioned at 50000 followed by the 50500 level.
Call OI addition was seen across strikes between 51000 and 52000 indicating stiff resistance at higher levels. Put unwinding at the 51000 level is a positive data point for the index.
According to option chain analysis, the straddle formation at 51000 remains a crucial level to watch for. If it sustains above 51000, an index can march towards 51500. If it breaks then the index can touch 50500.
The Nifty put-call ratio decreased by 0.03 and is now positioned at 0.56.
Micap Nifty:
For the weekly expiry, the highest call OI has been seen at the 24000 level. Immediate call OI buildup is seen at 23800 which will act as a resistance level.
The highest put OI has been noted at the 23000 level which will serve as support.
According to option chain analysis, Fin Nifty is likely to trade between the 23000 and 23800 levels.
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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.
Investing in the stock market offers the potential for long-term wealth growth, dividend income, portfolio diversification, and ownership stakes in successful companies.
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.
Important factors to consider include investment goals, risk tolerance, time horizon, market research, diversification, and staying informed about economic and market trends.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Linking your Demat account with Aadhaar enhances security by preventing unauthorised access and reducing fraud risk. It simplifies verification processes, making your account more compliant with regulatory standards and ensuring a safer, more transparent investment experience.
To link your Demat account with Aadhaar, you need your Aadhaar card, PAN card, and Demat account details. These documents confirm your identity and help ensure regulatory compliance, making the linking process secure and straightforward.
To link your Demat account with Aadhaar online, log into your brokerage account, find the “Link Aadhaar” option, and enter your Aadhaar details as prompted. Ensure that all information is accurate before submitting to avoid processing issues.
Yes, linking a Demat account with Aadhaar can be done through a mobile app. This option provides convenience, allowing users to complete the Aadhaar linking process directly on their devices, often with step-by-step guidance.
If your Aadhaar details don’t match your Demat account, update your Aadhaar or Demat account information to align. Contact your brokerage’s support if issues persist, as accurate information is crucial for successful linking and compliance.
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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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