POST-MARKET SUMMARY 19 December 2023

On December 19, the Indian equity benchmarks surged to fresh highs amid a highly volatile session, recovering from some of the previous session’s losses to conclude with moderate gains. Top Gainer: COALINDIA | Top Loser: ADANIPORTS

Liquide Post-Market Summary 19th December 2023

On December 19, the Indian equity benchmarks surged to fresh highs amid a highly volatile session, recovering from some of the previous session’s losses to conclude with moderate gains. The sectoral performance exhibited a mixed trend, with the metal, pharma, oil & gas, power, and FMCG sectors registering gains ranging from 0.3% to 1%. Conversely, the auto, capital goods, realty, and information technology sectors witnessed declines of 0.3% to 0.8%. Looking at broader indices, the BSE small cap index reached a new peak of 42,544.95 before ending with minor gains, whereas the BSE Midcap index slipped 0.3%.

NIFTY:  The index opened 59 points higher at 21,477 and made a high of 21,505 before closing at 21,453. Nifty has formed a small-bodied bearish candlestick pattern with a long lower shadow indicating support-based buying at lower levels. Its immediate resistance level is now placed at 21,500 while immediate support is at 21,350.

BANK NIFTY: The index opened 73 points higher at 47,940 and closed at 47,870. Bank Nifty has formed a small-bodied bearish candle with a longer lower shadow on the daily time frame. Its immediate resistance level is now placed at 48,020 while support is at 47,620.

Indices closing for 19th December 2023
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Oil India:  Stock surged 7% after the government slashed the windfall tax and crude oil prices inched up in the international market.

▪  Biocon: Stock slipped 1.5% even after the company completed the transition of the acquired biosimilar business in around 120 countries across advanced and emerging markets.

▪  IDFC First BankStock jumped 3% after the Reserve Bank of India (RBI) approved the merger of IDFC and IDFC Financial Holding Company with itself.

Global News 

▪  Gold prices gained on Tuesday as investors looked ahead to US economic data that could provide further indications on the outlook for interest rates.

▪  The US dollar jumped against the yen after the Bank of Japan gave no sign that its ultra-loose monetary policy was set to end, but the dollar was broadly softer against other majors, weighed down by expectations for interest rate cuts next year.

▪  Japan’s Nikkei 225 index closed more than 1% higher after the country’s central bank left the main policy rate unchanged at its final meeting of the year.

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