POST-MARKET SUMMARY 1st March 2024

On March 1, Indian equity benchmarks, namely the Sensex and the Nifty, soared to fresh record highs buoyed by robust GDP data, strong auto sales figures, and US inflation numbers meeting expectations, which kept hopes alive for a potential rate cut. Top Gainer: TATASTEEL | Top Loser: DRREDDY

Liquide Post-Market Summary 1st March 2024

On March 1, Indian equity benchmarks, namely the Sensex and the Nifty, soared to fresh record highs buoyed by robust GDP data, strong auto sales figures, and US inflation numbers meeting expectations, which kept hopes alive for a potential rate cut. Across sectors, the metal index surged by 4%, while auto, bank, capital goods, and oil & gas saw gains of 2% each. However, the healthcare index dipped by 1%, and the Information Technology index slipped by 0.5%. 

NIFTY:  The index opened 66 points higher at 22,048 and made a high of 22,353 before closing at 22,338. Nifty has formed a long bullish candlestick on the daily chart. Its immediate resistance level is now placed at 22,380 while immediate support is at 22,275. 

BANK NIFTY: The index opened 98 points higher at 46,218 and closed at 47,286. Bank Nifty has formed a robust bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 47,360 while support is at 47,000.

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

Stocks in Spotlight

▪  ICICI Bank:  Stock surged 3.12% after the private lender increased its stake in ICICI Lombard General Insurance via an open market transaction, the second such purchase in a week.

▪  Tata Investment Corporaton: Stock rallied 5% a day after the Union Cabinet approved three semiconductor plant proposals, two of which would be set up by Tata group.

▪  Suven Pharma: Stock gained 12.49% a day after the firm announced a scheme of amalgamation for a merger with Cohance Lifesciences.

Global News

▪  The pan-European Stoxx 600 provisionally ended the session up 0.6%. Tech stocks led gains, adding 1.6%, while insurance fell 0.7%.

▪  Gold started March on a positive note, with prices rising to a four-week high on Friday after data showing signs of abating inflation hardened expectations of a U.S. rate cut by June.

▪  The yen slipped against the dollar on Friday after Bank of Japan governor Kazuo Ueda said it was too soon to declare victory on pulling inflation up to a desired level.


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.