POST-MARKET SUMMARY 19th September 2024

On September 19, the Indian markets resumed their rally, closing higher after hitting record highs, driven by positive global cues following a 50 basis point cut by the United States Federal Reserve. Also read: US Fed Cuts Interest Rates by 50 bps: Analysing the Impact on Indian Markets

The Sensex climbed 236.57 points to settle at an all-time high of 83,184.80, while the Nifty gained 38.25 points to close at 25,415.80. Among sectors, Nifty Media, Oil & Gas, Metal, and PSU Bank were the worst performers, falling up to 2.45%.

NIFTY:  The index opened 110 points higher at 25,487 and made a high of 25,611 before closing at 25,415. Nifty has formed a Shooting Star candlestick pattern on the daily chart. Its immediate resistance level is now placed at 25,500 while immediate support is at 25,320.

BANK NIFTY: The index opened 179 points higher at 52,929 and closed at 53,037. Bank Nifty, too, has formed a Shooting Star like candlestick pattern on the daily chart. Its major resistance level is now placed at 53,300 while major support is at 52,800.

Stocks in Spotlight

▪  IREDA: Stock rose over 1% after DIPAM granted approval to IREDA to raise up to Rs 4,500 crore in a fresh equity share issue through a Qualified Institutional Placement (QIP).

▪  DCX Systems: Stock gained 1.7% after the company announced it has received an export order worth Rs 154.80 crore from Israel's Elta System.

▪  Vodafone Idea: Stock plunged 19% as the Supreme Court rejected telecommunication companies' plea for re-computation of adjusted gross revenue (AGR) dues.

Global News

▪  Gold prices climbed over 1% on Thursday after hitting a record high in the previous session, as the U.S. Federal Reserve embarked on its rate easing cycle.

▪  The U.S. dollar slipped on Thursday after the Federal Reserve cut its interest rate by 50 basis points and revised its monetary policy outlook, with sterling, the Australian dollar and the Norwegian crown outperforming their peers.

▪  Oil prices fell in Asian trading on Thursday after a larger-than-expected Federal Reserve interest rate cut sparked concerns about the U.S. economy.

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.