Notification
No new Notification messages
Zinka Logistics Solutions IPO is Open!
Apply for the Zinka Logistics Solutions IPO through UPI in just minutes.
Q2 FY'24-25 Results of Top Companies
Reliance, TCS, HDFC Bank & more: Explore key financial highlights from India's top quarterly results.
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 | Nifty Hints At Negative Opening Amid Global Profit Booking

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

0:00 / 0:00

Synopsis:

Today’s share market features how Global profit booking pressures Nifty’s opening. Quality Investment Holdings, Tata Chemicals, EMS, and Federal Bank announce key deals. FIIs sell ₹3,024.31 crore equities; DIIs buy ₹1,854.46 crore.

Latest Market News

1 . Quality Investment Holdings PCC to sell stake in #PNBHousing. Offer price at ₹939.3; discount of 4.25% to the closing price at NSE, sources on PNB Housing Finance.

2 . TataChemicals: Arm Tata Chemicals Europe to invest ₹655 cr to build a Sodium Bicarbonate plant in Northwich, UK.

3 . EMS gets LoA in JV for the work valuing ₹681.5 cr (74% Share) from Kolkata Municipal Corporation.

4 . FederalBank raises ₹1,500 crore in maiden infra bond issuance.

5 . FIIs Net Sell (Provisional Cash segment) ₹3,024.31 Cr In Equities while DIIs Net Buy ₹ 1,854.46 Cr In Equities yesterday.

TATA CHEMICALS LTD

Trade

1058.5517.40 (1.67 %)

Updated - 14 November 2024
1066.95day high
DAY HIGH
1041.05day low
DAY LOW
588233
VOLUME (BSE)

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

US Share Market News

  1. Performance Overview:

    • The quarterly corporate earnings season is beginning to ebb, although several firms are still due to unveil their latest results.

    • Treasury yields jumped on Tuesday, with yields on the 10-year Treasury yield rising 9  basis points as investors grow wary ahead of key consumer price index inflation data due on Wednesday.  

  2. Sector-Specific Movements:

    • The S&P 500 closes lower on Tuesday, taking a breather from its recent strong up move, pressured by a surge in Treasury yields just a day ahead of fresh inflation data.  

    • The Dow Jones Industrial Average fell 382 points, or 0.6%, the S&P 500 index fell 0.3%, and the NASDAQ Composite fell 0.1%.

    •  Inflation is expected to have remained steady in October from the prior month amid continued resilience in the US economy, but any signs of elevated inflation could potentially delay the Federal Reserve’s plans to cut interest rates further. The Fed cut rates by 25 basis points last week, and reiterated that it would maintain a data-driven approach to further easing. 

    • Recent signs of sticky inflation spurred some doubts over just how much further interest rates will fall. Traders were seen pricing in a 70.7% chance for another 25 bps cut in December, and a 29.3% chance rates will remain unchanged, CME Fedwatch showed.

  3. Economic Indicators:

  • Beyond the CPI data, focus this week is also on addresses from a slew of Fed officials for more insight into the central bank’s plans for rates.

Other Asset Classes

  1. Treasury Yields:

    • The 10-year Treasury yield rose by more than 09 basis points to 4.426%.

  2. Currency:

    • The U.S. dollar rose to a four-month high against major peers on Tuesday, while bitcoin pared recent gains from a record rally buoyed by tariff expectations from the incoming Donald Trump administration.

    • Bitcoin dropped from a new all-time peak of $89,982 and was last down 1.2% to $86,945.

    • The U.S. dollar index, which measures the currency against six peers rose 0.4% to 105.96..

  3. Commodities:

    • Oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed OPEC’s latest downward revision for demand growth, a stronger U.S. dollar and disappointment over China’s latest stimulus plan. Brent futures rose 6 cents to close at $71.89 a barrel.

    • Gold prices fell Tuesday, pressured by a climbing Treasury yield and a stronger dollar a day ahead of fresh inflation data. Spot gold fell 0.8% to $2,599.56 an ounce.

Asian Markets

  1. General Trends:

    • Asia-Pacific stock markets opened lower Wednesday, tracking losses on Wall Street as the U.S. postelection rally stalled.

  2. Specific Index Performance:

    • Japan’s Nikkei 225 was trading down 0.5% at open, while the Topix declined 0.3%.

    • South Korea’s Kospi fell 1.1%, while the Kosdaq Index was down 1.4%.

India Market Outlook

  1. GIFT Nifty Projection:

    • Gifts Nifty suggests a negative opening for the Indian market amid profit booking in the global equity market. The nifty spot is likely to extend a corrective decline in the range of 23700-24050.

  2. Market in Previous Session:

    • Benchmark indices after a positive start on Tuesday slipped into negative territory by afternoon, as a steep drop in auto, Banking and FMCG stocks dampened market sentiment. This downturn comes ahead of the October Consumer Price Index data points. Market sentiment turned cautious, with heavy foreign investor outflows, high valuations, and weak Q2 earnings pressuring the indexes.  

    • The Sensex was down 820.97 points or 1.03 per cent at 78,675.18, and the Nifty was down 257.80 points or 1.07 per cent at 23,883.50. About 1155 shares advanced, 2641 shares declined, and 93 shares unchanged

    • Bank Nifty also witnessed a sharp decline and closed the session down by 1.4%. The broader market extended decline as the Nifty midcap and small-cap index closed sharply lower by 1.3% and 1.5% respectively.

  3. Nifty Short-Term Outlook:

    • The index extended decline for the fourth consecutive session and closed firmly below the 24000 level. Nifty formed a sizable bear candle with a lower high and lower low signalling corrective bias. 

    • Nifty in the last two weeks is broadly consolidating in the range of 24,500-23,800. Index during last week reacted lower from the upper band of the range (24,500) and is currently approaching the lower band of the range.

    • Index sustaining above last week's low on a closing basis (23,816) will be crucial for any pullback to materialize. Failure to do so will lead to an extension of decline towards 23,550 levels.

    • The index needs to start forming higher highs and higher lows in the daily chart on a sustained basis to signal a pause in the current corrective trend.   

  4. Intraday Levels:

    • Nifty: Intraday resistance is at 24,110 followed by 24,380 levels. Conversely, downside support is located at 23,750, followed by 23,572.

    • Bank Nifty: Intraday resistance is positioned at 51,435, followed by 51,590, while downside support is found at 50,700, followed by 50,280.

Derivative Market Analysis

  1. Nifty:

    • The highest call OI is observed at the 24,500 level, with significant call writing dominance above the 24,000 level. This suggests a limited upside with stiff resistance at the 24,000 level.

    • Major put writing is noted at the 23,000 level, followed by 23,500, indicating that 23,500 will act as crucial support. The unwinding of positions by put writers suggests caution regarding further correction.

    • According to the option chain analysis, the immediate range for Nifty is between 23,500 and 24,000. A breakout or breakdown from either side of this range may trigger a directional move.

    • The Nifty put-call ratio has declined by 0.19 and is now positioned at 0.72.

  2. Bank Nifty:

    • The major put OI is noted at the 50,000 level, while the immediate put OI is positioned at 51,000, which will serve as crucial support for the weekly expiry.

    • On the other hand, substantial call OI is observed at 52,500, with immediate call OI positioned at 51,500, which will act as resistance.

    • According to the option chain analysis, the deciding range for Bank Nifty is between 51,000 and 51,500, and it is likely to consolidate within this range.

    • The Bank Nifty put-call ratio has declined by 0.27 and is now positioned at 0.59.

    • The maximum pain level for the weekly expiry is 51,500.

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

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

8 Lacs + Users

icon-with-text

4.8+ App Rating

icon-with-text

4 Languages

icon-with-text

₹5000+ Cr MTF Book

icon-with-text