POST-MARKET SUMMARY 15 November 2023

On November 15, the Indian benchmark indices rebounded from the losses of the previous session and closed in positive territory, supported by widespread buying across sectors. Buoyed by favourable global signals, the Indian indices opened higher and sustained the upward momentum throughout the day, with the Nifty approaching the 19,700 mark. All sectoral indices finished in positive territory, with gains of 1-3% in capital goods, auto, metal, information technology, oil & gas, and realty. 

NIFTY:  The index opened 208 points higher at 19,651 and made a high of 19,693 before closing at 19,675. Nifty has formed a bullish candlestick pattern, with a long lower shadow and upper minor shadow on the daily chart. Its immediate resistance level is now placed at 19,725 while immediate support is at 19,580. 

 BANK NIFTY: The index opened 507 points higher at 44,398 and closed at 44,201. Bank Nifty has formed a bearish candlestick pattern on the daily scale as the closing was lower than the opening level. Its immediate resistance level is now placed at 44,400 while support is at 44,050.

Stocks in Spotlight

▪  Natco Pharma:  Stock dived 4.44% despite the company’s quarterly net profit surge to Rs 369 crore against Rs 56.8 crore from the previous year.

▪  NMDC:  Stock slipped 2.88% even after company reported a 15.7% increase in consolidated net profit for the second quarter.

▪  Wipro:  Stock gained 2.57% after Designit Tokyo, a step-down subsidiary of Wipro, was voluntarily liquidated with effect from November 13.

 Global News

▪  Hong Kong stocks led Asia-Pacific markets higher on Wednesday after upbeat economic data from China.

▪  The pan-European Stoxx 600 was up 0.7% by early afternoon in London, with basic resources adding 2.5% to lead gains as most sectors and major bourses advanced.

▪  US wholesale prices fell 0.5% in October for biggest monthly drop since April 2020. This was against expectations for a 0.1% increase from the Dow Jones consensus.

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.