POST-MARKET SUMMARY 1st February 2024

On February 1, the Indian equity benchmarks ended with little change in a volatile session after Finance Minister Nirmala Sitharaman presented the in-line Interim Budget with no big announcements. Top Gainer: MARUTI | Top Loser: GRASIM

Liquide Post-Market Summary 1st February 2024

On February 1, the Indian equity benchmarks ended with little change in a volatile session after Finance Minister Nirmala Sitharaman presented the in-line Interim Budget with no big announcements. A mixed trend was seen on the sectoral front, with auto, bank, FMCG and power adding 0.2-0.8%, while capital goods, metal and realty were down a percent each. PSU Bank was the best-performing sector, gaining over 3%. 

NIFTY:  The index opened 55 points higher at 21,780 and made a high of 21,832 before closing at 21,697. Nifty has formed a bearish candlestick on the daily chart. Its immediate resistance level is now placed at 21,835 while immediate support is at 21,650. 

BANK NIFTY: The index opened 168 points higher at 46,164 and closed at 46,188. Bank Nifty has formed a Doji candlestick on the daily chart. Its immediate resistance level is now placed at 46,300 while support is at 45,650.

Indices closing for 1st February 2024
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Indian Overseas Bank:  Stock gained 6% along with other PSU banks after the government announced lower than expected borrowing program in the budget.

▪  Paytm: Stock fell 20% and got locked in the lower circuit after RBI imposed major restrictions on the company's lending business, which also includes a prohibition on accepting fresh deposits and doing credit transactions after February 29.

▪  PB Fintech: Stock fell 1% after a block deal where 2.44 crore shares of the company changed hands on the stock exchanges.

Global News 

▪  Gold prices oscillated on Thursday, weighed by a stronger dollar after the Federal Reserve resisted the idea of a rate cut in March, but bullion held its ground as investors continued to cling to the hope that interest rates would be trimmed later this year.

▪  The dollar hovered close to the highest level in seven weeks against the euro on Thursday.

▪  Global oil prices climbed in early trade on Thursday, supported by signals from the U.S. Federal Reserve on a possible start to rate cuts and as China unveiled new support measures for its embattled property market.


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