On May 21, the Indian markets ended almost flat in a volatile session, with Nifty managing to hold above 22,500. Top Gainer: HINDALCO | Top Loser: NESTLEIND

Liquide Post-Market Summary 21st May 2024

On May 21, the Indian markets ended almost flat in a volatile session, with Nifty managing to hold above 22,500. The Indian indices opened marginally lower amid mixed global cues, with Nifty slipping below 22,500 to extend the losses in the first half. However, it recovered the losses in the second half amid buying seen in the metal, power, oil & gas, and PSU Banks.

Among sectors, the metal index was up 4%, the power index gained 2%, the PSU Bank index rose 1.5%, while FMCG was down 0.5%.

NIFTY:  The index opened 98 points lower at 22,404 and made a high of 22,591 before closing at 22,529. Nifty has formed a bullish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 22,600 while immediate support is at 22,440.

BANK NIFTY: The index opened 272 points lower at 47,927 and closed at 48,048. Bank Nifty has formed a bullish candlestick pattern with a long upper shadow on the daily chart. Its immediate resistance level is now placed at 48,250 while support is at 47,900.

Indices closing for 21st May 2024
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Delhivery: Stock slumped over 10% after the company slipped back into losses in the March quarter.

▪  Aptus Value Housing Finance: Stock tanked 5% after a large deal worth Rs 1,075 crore took place on the stock exchanges.

▪  Rail Vikas Nigam: Stock surged 15% after the company bagged an order worth Rs 148 crore from the South Eastern Railway.

Global News 

▪  The Stoxx 600 index was down 0.44% at 1 p.m. London time. Most sectors were in the red as banks fell 1%, while mining stocks rose 0.3%.

▪  The dollar struggled for direction on Tuesday as investors stuck to their views of the expected timing of Federal Reserve monetary easing this year.

▪  Hong Kong’s Hang Seng index led losses in Asia-Pacific markets on Tuesday, falling about 2% as basic material and industrials stocks fell.

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