POST-MARKET SUMMARY 03 October 2023

After an extended weekend, Indian equity benchmarks concluded the trading day on October 3 with losses, influenced by weak global cues and extensive selling. The top-performing sectors were PSU Banking and Media, while Energy and Auto sectors underperformed. Mid-cap and Small-cap indices outperformed the benchmark indices, as most of the correction was observed in heavyweight stocks.

NIFTY: The index opened 16 points lower at 19,622 and made a high of 19,623 before closing at 19,528. Nifty has formed a bearish candlestick pattern with a minor lower shadow on the daily chart. Its immediate resistance level is now placed at 19,700 while immediate support is at 19,450.

BANK NIFTY: The index opened 23 points lower at 44,561 and closed at 44,399. Bank Nifty has formed a bearish candlestick pattern with a long lower shadow on the daily chart. Its immediate resistance level is now placed at 44,700 while support is at 44,200.

Stocks in Spotlight

▪  Dhanlaxmi Bank:  Stock surged over 10% after the company reported strong numbers for Q2. Total deposits rose 8.2% YoY to Rs 13,789 crore while gross advances were up 13.2% YoY at Rs 10,312 cror

▪  Kalpataru Projects:  Stock climbed nearly 3% after the company bagged new orders worth Rs 1,016 cr for transmission and distribution projects in India as well as overseas.

▪ RVNL:  Stock gained 1.8% after the company emerged as the lowest bidder for Himachal Pradesh State Electricity Board’s power distribution infrastructure development project worth Rs 1,098 crore.

Global News

▪  Stoxx 600 index traded 0.5% lower after a brief spell in the green, with a mixed performance on the sectoral front. Utilities fell 2.7% while banks rose 0.14%.

▪  Hong Kong stocks led Asia-Pacific markets lower on Tuesday, in their return from a National Day holiday on Monday.

▪  Oil prices slipped further on Tuesday, after falling to a three-week low in the previous session, on a stronger US dollar, a darkening global macroeconomic outlook and mixed supply signals.

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.