POST-MARKET SUMMARY 23rd April 2024

On April 23, the Indian market wiped out most of the day's gains in last-hour selling, but managed to close with modest gains, marking the third consecutive session of increase. By close, the Sensex showed an uptick of 89.83 points, equivalent to 0.12%, reaching 73,738.45, while the Nifty rose by 31.60 points, or 0.14%, to 22,368. Sector-wise, healthcare, metal, oil & gas, and energy observed declines of 0.3-0.8%, whereas FMCG, power, IT, realty, and auto saw gains of 0.4-2%.

NIFTY:  The index opened 111 points higher at 22,447 and made a high of 22,447 before closing at 22,368. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 22,425 while immediate support is at 22,300.

BANK NIFTY: The index opened 375 points higher at 48,299 and closed at 47,970. Bank Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 48,150 while support is at 47,650.

Indices closing for 23rd April 2024
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Tejas Networks:  Stock jumped 20% and got locked in the upper circuit after the company reported strong Q4 earnings.

▪  Vodafone Idea: Stock rallied over 11% after the company's follow-on public offer (FPO) concluded with 6.36 times subscription.

▪  Hatsun Agro: Stock advanced over 8% after the Chennai-based company's net profit doubled on year to Rs 52 crore in the January-March quarter.

Global News

▪  Gold prices extended losses for a second day to hit a more than two-week low on Tuesday as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key U.S. economic data this week.

▪  A firm U.S. dollar had the yen locked near a fresh 34-year low on Tuesday, keeping investors on heightened intervention watch as they looked ahead to key U.S. inflation report and the Bank of Japan’s rate decision this week.

▪  The pan-European benchmark Stoxx 600 index was up 0.8% by 2:00 p.m. London time, with the majority of sectors trading in positive territory. Retail stocks led gains, rising 2%, while mining stocks fell 1.4%.


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