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.
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.