POST-MARKET SUMMARY 12 December 2023

On December 12, the Indian benchmark indices halted a two-day winning streak, with the Nifty retracting from its record high as investors expressed concerns ahead of US inflation data and global central bank meetings. The market started the day slightly higher amid positive global cues, reaching a new high of 21,037.90. However, profit booking in the second half pulled the indices into the negative territory, finishing near the day's low. Except for the Metal sector, all other sectoral indices concluded in the red, with capital goods, oil & gas, power, and realty down by 1% each. 

NIFTY:  The index opened 21 points higher at 21,018 and made a high of 21,037 before closing at 20,906. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 20,950 while immediate support is at 20,850.

BANK NIFTY: The index opened 107 points higher at 47,421 and closed at 47,097. Bank Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 47,350 while support is at 46,800.

Stocks in Spotlight

▪ Hindalco:  Stock rose over 3% intraday after the company announced plans to set up a battery foil manufacturing plant in Odisha.

▪  Paytm:  Stock fell over 6% today. The stock has now fallen nearly 26% in the last 5 trading sessions after the company announced plans to trim small ticket post-paid loans.

▪  Torrent Pharma:  Stock slipped 2% after US FDA completed an inspection of the company’s oral-oncology manufacturing facility in Bileshwarpura, Gujarat. 

Global News 

▪  Gold prices recovered from a three-week low while US crude oil prices on Tuesday dropped more than 3% as traders worried that the Federal Reserve does not yet have inflation under control.

▪  The dollar pared losses in choppy trading that initially saw it move lower, after data showed that US consumer price inflation rose 0.1% in November.

▪  European markets ticked lower on Tuesday as global investors digested the latest US inflation reading.

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.