POST-MARKET SUMMARY 01 December 2023

On December 1, the Indian equity indices commenced the new series on a robust note, with the Nifty50 index reaching a new all-time high. Investors expressed optimism following higher-than-anticipated GDP data and engaged in buying across various sectors. With the exception of the Auto sector, all other sectoral indices closed in the green, with Capital Goods, FMCG, Metal, Power, and Realty up by 1-1.5% each. 

NIFTY:  The index opened 61 points higher at 20,194 and made a high of 20,291 before closing at 20,267. Nifty has formed a bullish candlestick pattern on the daily chart with higher highs and higher lows for four days in a row. Its immediate resistance level is now placed at 20,300 while immediate support is at 20,200. 

BANK NIFTY: The index opened 99 points higher at 44,580 and closed at 44,814. Bank Nifty continued its higher highs and higher lows formation for six days forming a bullish candlestick pattern with a minor upper shadow on the daily scale. Its immediate resistance level is now placed at 45,000 while support is at 44,700.

Stocks in Spotlight 

▪  Dixon Technologies:  Stock rallied more than 8% after the launch of a smartphone manufacturing plant in Noida.

▪  PFC:  Stock surged over 9% following an announcement that its wholly owned subsidiary, PFC Consulting, had set up a special purpose vehicle (SPV) - Paradeep Transmission.

▪  Whirlpool India:  Stock fell nearly 10% after its holding company sold up to 24% stake in the firm.

Global News 

▪  Gold prices were set for a third straight weekly gain after data showing easing inflation raised expectations that the US Federal Reserve would soon start cutting interest rates, with Chair Jerome Powell’s speech later on Friday in focus.

▪  Consequently, the dollar edged lower on Friday, while the euro rebounded slightly after steep overnight losses.

▪  Oil prices were down on Friday following a 2% drop on Thursday, with the market seemingly unconvinced that the latest round of production cuts by the OPEC+ coalition will be able to lift prices out of their recent slump.

This document has been issued by Liquide Solutions Private Limited for information purposes only and should not be construed as

i) an offer or recommendation to buy or sell securities, commodities, currencies or other investments referred to herein; or

ii) an offer to sell or a solicitation or an offer for the purchase of any of the baskets of Liquide Solutions; or

iii) investment research or investment advice. It does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. Investors should seek personal and independent advice regarding the appropriateness of investing in any of the funds, securities, other investment, or investment strategies that may have been discussed or referred to herein and should understand that the views regarding future prospects may or may not be realized. In no event shall Liquide Life Private Limited and/or its affiliates or any of their directors, trustees, officers and employees be liable for any direct, indirect, special, incidental or consequential damages arising out of the use of information/opinion herein.

With Liquide, you can explore stocks, trade securely in your own broker account, and receive expert-recommended trade setups. Stay updated with real-time tracking, market commentary, and AI-powered insights from LiMo, our intelligent bot. Whether you're a seasoned investor or a newbie, Liquide provides the tools you need to discover your next big investment opportunity. Download the app now from Google Play Store and Apple App Store to revolutionize your investment journey. Don't miss out on the chance to level up your investing game with Liquide.