POST-MARKET SUMMARY 11th November 2024

On November 11, in a highly volatile session, Indian equity indices closed with minimal change. The Sensex gained 9.83 points or 0.01% to settle at 79,496.15, while the Nifty slipped 6.90 points or 0.03% to 24,141.30.

Amid mixed global cues, the indices opened slightly lower but managed to recover their losses within the first hour, extending gains as the day progressed. Sector-wise, the bank index rose by 0.6%, and the IT index increased by 1%, while auto, FMCG, healthcare, metals, oil & gas, and media sectors declined by 0.5-1%.

 NIFTY:  The index opened 61 points lower at 24,087 and made a high of 24,336 before closing at 24,141. Nifty has formed a bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 24,300 while immediate support is at 24,050.

 BANK NIFTY: The index opened flat at 51,562 and closed at 51,876. Bank Nifty has formed a bullish candlestick pattern on the daily chart. Its major resistance level is now placed at 52,080 while major support is at 51,680.

Stocks in Spotlight 

▪  C.E. Info Systems: Stock fell over 8% as Q2FY25 results showed an 8.2% drop in net profit to Rs 30.33 crore despite a 14% revenue increase to Rs 103.67 crore.

▪  Aarti Industries: Stock fell over 7% following disappointing Q2 earnings with a significant profit decline and margin contraction.

▪  Krishna Institute of Medical Sciences: Stock jumped 6% intraday on strong Q2 results, with net profit up 24% QoQ and 16.7% YoY, and revenue rising 13% QoQ and 19% YoY to Rs 777.3 crore.

Global News 

▪  European markets moved higher but Asian stocks fell as China’s stimulus package disappointed investors.

▪  The euro dropped to a 4.5-month low against the U.S. dollar as concerns grew among investors over potential U.S. tariffs, which could negatively impact the eurozone economy.

▪  Oil prices dropped on Monday as China’s stimulus plan fell short of investor expectations for fuel demand growth in the world’s second-largest oil consumer, while the U.S. dollar strengthened.

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