On June 20, the Indian equity market closed on a positive note amid volatility, with the Nifty finishing above 23,550. Top Gainer: HINDALCO | Top Loser: HEROMOTOCO

Liquide Post-Market Summary 20th June 2024

On June 20, the Indian equity market closed on a positive note amid volatility, with the Nifty finishing above 23,550. Selling was seen in the auto, pharma, and PSU banks stocks, while buying was seen in the metal, capital goods, realty, and oil & gas sectors.

The broader market spectrum maintained a bullish stance, with the advance-decline ratio favouring the bulls. Meanwhile, the India VIX, the fear gauge, fell 2.68% to 13.34 levels, after rising in the previous couple of sessions.

NIFTY:  The index opened 70 points higher at 23,586 and made a high of 23,624 before closing at 23,567. Nifty has formed a small-bodied bearish candlestick pattern with a long lower shadow on the daily chart. Its immediate resistance level is now placed at 23,625 while immediate support is at 23,530.

BANK NIFTY: The index opened 314 points higher at 51,712 and closed at 51,783. Bank Nifty has formed a small bullish candle with a long lower shadow on the daily timeframe. Its immediate resistance level is now placed at 51,950 while support is at 51,600.

Indices closing for 20th June 2024
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  NIACL: Stock jumped 6% after the firm appointed Girija Subramanian as Chairperson cum Managing Director (CMD) of the company.

▪  Sun Pharma: Stocks slipped 1.8% after it received a warning letter from United States Food & Drug Administration (USFDA) for current Good Manufacturing Practice (cGMP) violations at its Dadra facility.

▪  BSE: Stock fell 2.4% after a news report said that the government is mulling changes that could eventually mean higher taxation on Futures & Options (F&O) transactions.

Global News

▪  European stocks were higher on Thursday afternoon as investors reacted to policy rate decisions from three central banks.

▪  Gold prices hit a two-week high on Thursday, after recent weak U.S. economic data raised market expectations of interest rate cuts from the Federal Reserve later this year, while uncertainty surrounding multiple elections globally also lent support.

▪  The dollar climbed on Thursday, while the Swiss franc and pound dipped as a busy day of central bank meetings kept currency traders alert.

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.