POST-MARKET SUMMARY 16 November 2023

On November 16, the Indian benchmark indices closed positively for the second day in a row, navigating through a volatile trading session. Despite a lower opening influenced by mixed global signals, the indices rebounded and surged throughout the day. However, a last-hour sell-off trimmed some of the gains. Among various sectors, information technology saw a substantial increase of almost 3%, with realty, oil & gas, and auto also marking gains of around 1% each. 

NIFTY:  The index opened flat at 19,674 and made a high of 19,875 before closing at 19,765. Nifty formed a bullish candlestick pattern with a long upper shadow and minor lower shadow on the daily charts. Its immediate resistance level is now placed at 19,850 while immediate support is at 19,700. 

 BANK NIFTY: The index opened 50 points higher at 44,251 and closed at 44,161. Bank Nifty has formed a bearish candlestick pattern on the daily scale making lower high lower low formation. Its immediate resistance level is now placed at 44,400 while support is at 44,000.

Indices closing for 16th November 2023
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪   Pennar Industries:  Stock surged 11.36% after the company said it bagged orders worth Rs 669 crore across its various business verticals.

▪   Suzlon Energy:  Stock gained 4.94% after the company said that one of its wind turbine series got a listing from the government, paving the way for its commercialisation.

▪   Paytm:  Stock slumped 1.64% as investors rushed to book profits after the stock gained almost 3% the previous day.

Global News

▪   European markets were lower on Thursday amid a cooling of the positive sentiment seen earlier in the week after the release of positive data from the U.S. and China.

▪   Hong Kong stocks led declines in the Asia-Pacific region on Thursday as Xpeng led electric vehicle stocks lower, while investors digested high-level discussions between the United States and China.

▪   Oil prices dropped on Thursday, extending losses from the previous session, as signals of higher supply from the United States met worries about lackluster energy demand from Asia.


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