Liquide Post-Market Summary 20 June 2023

On June 20, the Indian stock market ended in the green amid a volatile trading session. Benchmark indices opened flat but witnessed profit-booking as the day advanced, influenced by weak global cues. However, during the second half of the trading session, buying activity reversed the earlier losses, resulting in a positive close for the day.

NIFTY:  The index opened flat at 18,752 and made a high of 18,839 before closing at 18,816. Nifty has formed a bullish candle on the daily chart with a long lower shadow, which indicates a near-term uptrend. Its immediate resistance level is now placed at 18,900 while support is at 18,690.

BANK NIFTY:  The index opened 36 points lower at 43,597 and closed at 43,766. Bank Nifty has formed a bullish candlestick pattern after taking support at the recent low of around 43,400. Its immediate resistance level is now placed at 44,000 while support is at 43,250.

Indices closing for 20th June 2023
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

Thyrocare Technologies: Stock jumped nearly 7% after 29.11 lakh shares, representing 5.5% equity, changed hands on the BSE at an average price of Rs 488/share.

▪  Dynacons Systems & Solutions: Stock gained 5% after the company received a Rs 79.47-crore order from Union Bank of India.

Zee Entertainment Enterprises:  Stock fell over 6%, a day after the Securities Appellate Tribunal (SAT) adjourned the Zee plea against a Sebi order till June 26, delaying the entertainment major's merger with Sony Pictures Networks India.

Global News

▪  People's Bank of China cut key policy rates for the first time in 10 months.

▪  Investors exhibited caution on Tuesday, leading to a decline in European stock markets, amid concerns about the global economic outlook. Recent data from China has heightened apprehensions, further contributing to the cautious sentiment among investors.

▪  All eyes now on UK's upcoming inflation data and monetary policy announcement.

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