POST-MARKET SUMMARY 19 January 2024

On January 19, the benchmark indices snapped their three-day losing streak, concluding the day on a positive note fueled by favorable global cues and widespread buying across sectors. The Nifty witnessed a gap-up start and maintained a rangebound movement throughout the session. Barring Media, Private Bank, all other sectoral indices closed in positive territory, with auto, capital goods, information technology, FMCG, metal, oil & gas, and power registering gains of 1-2% each.

NIFTY:  The index opened 153 points higher at 21,615 and made a high of 21,670 before closing at 21,622. Nifty has formed a Doji candlestick on the daily chart. Its immediate resistance level is now placed at 21,670 while immediate support is at 21,575.

BANK NIFTY: The index opened 390 points higher at 46,103 and closed at 45,701. Bank Nifty has formed a bearish candlestick on the daily chart. Its immediate resistance level is now placed at 46,200 while support is at 45,500.

Stocks in Spotlight

▪  Poonawalla Fincorp:  Stock gained 2.8% after the company posted a 76% growth in profit in Q3 on the back of better asset quality and interest income.

▪  Indiamart : Stock surged 5.9% after the company’s topline grew 21% YoY to Rs 305 crore while profit came in at Rs 77 crore on lower employee costs.

▪  Home First Finance: Stock gained 2.2% after the NBFC’s net profit grew 34.2% growth to Rs 79 crore.

Global News

▪  Gold drifted higher on Friday buoyed by a weaker US dollar, but was set to log its biggest weekly decline in six after the Federal Reserve countered wider market expectations of an early interest rate cut.

▪  Oil was flat, but headed for a weekly gain, as traders assess Middle East tensions and oil output disruptions caused by cold weather in the US, the world’s biggest producer, along with concerns about the health of the Chinese and global economy.

▪  The dollar was on track to rise for the week on Friday, adding to solid gains so far this year, as the US economy and pushback from central bankers has caused traders to dial down expectations of swift falls in interest rates.

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.