POST-MARKET SUMMARY 21 December 2023

On December 21, despite an initial dip amid mixed global cues, the benchmark indices gradually recovered from losses and ended the day in positive territory. The Nifty Small cap 100 stood out as the most significant gainer among the broader market indices, showing a 1.94% increase. All sectors concluded the day with gains. Nifty Media led the way with the most substantial increase at 2.49%, followed by Nifty Oil & Gas, Nifty PSU Bank, and Nifty Metal, each recording gains of more than 1%.

NIFTY:  The index opened 117 points lower at 21,033 and made a high of 21,288 before closing at 21,255. Nifty has formed a strong bullish candle in today's trade. Its immediate resistance level is now placed at 21,350 while immediate support is at 21,180.

BANK NIFTY: The index opened 273 points lower at 47,172 and closed at 47,840. Bank Nifty has formed a long bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 48,070 while support is at 47,600.

Stocks in Spotlight

▪  IRCTC: Stock surged 6.6% with strong trade volumes on December 21. 3 crore shares exchanged hands compared to a monthly average of 80 lakh. The stock has been gaining after the company announced plans to expand in non-railway catering in India.

▪  Allcargo Logistics: Stock went up 4.9% after the company announced January 2 as the record date for a 3:1 bonus issue.

▪  Suzlon Energy: Stock rallied 4.5% after the company bagged a repeat order for the development of a 193.2 MW wind power project from the KP Group.

Global News 

▪  The dollar was steady while sterling recouped losses on Thursday in holiday-thinned trade ahead of the last major data release of the year in Friday’s US inflation figures.

▪  Most Asia-Pacific markets fell on Thursday after Wall Street dropped overnight, while investors awaited gross domestic product reading and inflation numbers from the US.

▪  Gold prices crept higher on Thursday but traded in a relatively tight range as investors looked to US economic data for further clarity on the Federal Reserve’s next monetary move.

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