Liquide Post-Market Summary 19 June 2023

The equity markets closed in the red on June 19, amid significant volatility due to a combination of weak global market conditions and selling pressure across various sectors. Although the Nifty hit record-high levels in early trade, profit-booking subsequently led to the erasure of the early gains, resulting in a finish near the day's lowest point.

NIFTY:  The index opened 47 points higher at 18,873 and made a high of 18,881 before closing at 18,755. Nifty has formed a Dark Cloud Cover pattern, which is a bearish sign. Its immediate resistance level is now placed at 18,900 while support is at 18,690.

BANK NIFTY:  The index opened 77 points higher at 44,015 and closed at 43,633. Bank Nifty has formed a Bearish candlestick and is trading below its 20 EMA on daily closing basis. Its immediate resistance level is now placed at 44,000 while support is at 43,250.

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

Stocks in Spotlight

Axiscades Technologies Ltd: Stock was locked in at 5% upper circuit after the technology firm’s board approved the acquisition of a German firm.

Shriram Finance Ltd: Stock surged over 5% after a large block deal took place on the exchanges. Around 99.2 lakh shares or a 2.65% stake in the company changed hands in the block deal window at Rs 1,401.15/share.

Asian Energy Services:  Stock scaled to 52-week high of Rs 131.80 after the company received a Letter of Award (LoA) from ONGC for 3D seismic data acquisition services in Gujarat.

Global News

▪  Gold prices dip on Monday as the US dollar strengthens. The decline came as investors evaluate the future trajectory of interest rates after looking at the US Federal's hawkish stance.

▪  Oil prices fall by more than $1, reversing the gains observed in the previous week. This downturn was primarily driven by concerns regarding China's economy, which outweighed the positive effects of output cuts by OPEC+

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