Post-market report and news around trending stocks.

Liquide Post-Market Summary 9th August 2023

On August 9, the benchmark indices ended on a positive note amid a volatile session. Buying was seen across various sectors, except for realty and banking. The trading day began on a flat note amid mixed global cues. Although the market initially turned negative, but as the day unfolded, a surge of buying activity in the final hours not only erased the earlier losses but also pushed the market to close higher than the previous session.

NIFTY: The index opened flat at 19,578 and made a high of 19,645 before closing at 19,632. Nifty has formed a bullish candlestick pattern with a long lower shadow on the daily chart, indicating buying interest at lower levels. Its immediate resistance level is now placed at 19,700 while immediate support is at 19,450.

BANK NIFTY:  The index opened flat at 44,973 and closed at 44,880. Bank Nifty has formed a small bodied bearish candlestick pattern with a long lower shadow on the daily chart. Its immediate resistance level is now placed at 45,150 while support is at 44,500.

Indices closing for 9th August 2023
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Kalyan Jewellers Ltd:   Stock traded nearly 3% higher to hit a 52-week high of Rs 189 after the southern gold-ornament maker reported a 33% YoY rise in net profit at Rs 144 crore for the June quarter.

▪  Ideaforge Technology Ltd:   Stock plunged 6% after its quarterly net profit slumped 54% YoY to Rs 18.86 crore and revenue from operations slipped 2% to Rs 97 crore.

▪  Mishra Dhatu Nigam Ltd:   Stock tanked 7% as market participants fretted over contraction in margins. Operating margin came in at 22.13% in the June quarter as against 28.73% last fiscal.

Global News

▪  European Stoxx 600 index was up 0.8% by early afternoon, with oil & gas stocks adding 2% to lead gains as almost all sectors traded higher except travel and leisure, which slid 0.2%.

▪  Stocks in China and Hong Kong fell on Wednesday as China’s consumer prices slipped into the negative territory in July, for the first time in 28 months.

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