POST-MARKET SUMMARY 19th November 2024
On November 19, the Indian equity markets snapped a seven-day losing streak, ending higher in a volatile session. Sector-wise, media, auto, realty, IT, and Pharma rose by 0.5-2.5%.
Despite mixed global cues, the market opened on a positive note and extended gains through the day. However, in the final hour, the indices erased most of their intraday gains following reports of Ukraine's first ATACMS strike inside Russia.
In the primary market, the grey market premium (GMP) for the Rs 10,000 crore IPO of NTPC Green Energy Ltd dropped to 1%. Get exclusive insights and expert opinions on whether you should subscribe to the IPO here.
NIFTY: The index opened 76 points higher at 23,529 and made a high of 23,780 before closing at 23,518. Nifty has formed a ‘Gravestone Doji’ candlestick pattern on the daily chart. Its immediate resistance level is now placed at 23,600 while immediate support is at 23,450.
BANK NIFTY: The index opened 217 points higher at 50,580 and closed at 50,626. Bank Nifty has formed a ‘Doji’ candlestick pattern on the daily chart. Its immediate resistance level is now placed at 50,800 while immediate support is at 50,300.
Stocks in Spotlight
▪ GMR Airports: Stock jumped nearly 3% after the company reported handling over 1 crore passengers in October 2024, a 9.2% YoY increase driven by growth in both domestic and international traffic.
▪ Zee Entertainment Enterprises: Stock surged 6% after Punit Goenka stepped down as Managing Director while continuing as the company’s Chief Executive Officer.
▪ Akums Drugs: Stock jumped 5%, snapping a ten-day losing streak, following the company's exclusive master sales agreement with South Korea's Caregen Co Ltd, granting it exclusive rights to sell select Caregen nutraceutical products in India.
Global News
▪ European markets declined on Tuesday, hitting a three-month low amid renewed concerns over Russia.
▪ Gold climbed 1% on Tuesday, extending its rebound from a two-month low reached on Friday, as renewed escalation in the Russia-Ukraine war prompted investors to seek the safety of bullion.
▪ U.S. stock index futures declined as escalating Russia-Ukraine tensions dampened global risk appetite, driving investors toward safe-haven assets.
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