POST-MARKET SUMMARY 24th September 2024

On September 24, Indian equity indices failed to sustain record highs and ended flat, breaking their three-day winning streak after Sensex and Nifty crossed 85,000 and 26,000, respectively, during intraday trade. Top Gainer: TATASTEEL | Top Loser: SBILIFE

Liquide Post-Market Summary 24th September 2024

On September 24, Indian equity indices failed to sustain record highs and ended flat, breaking their three-day winning streak after Sensex and Nifty crossed 85,000 and 26,000, respectively, during intraday trade.

On the sectoral front, the metal index emerged as the top performer, advancing 3%. Also read: Why Are Metal Stocks Buzzing In Trade Today – Explained. The oil & gas index rose 0.6%, and the power index added 1.4%. Conversely, PSU Bank, FMCG, and telecom sectors declined by 0.5-1%.

NIFTY:  The index opened flat at 25,921 and made a high of 26,011 before closing at 25,940. Nifty has formed a small-bodied bullish candlestick pattern with a long upper shadow, resembling a Doji or Shooting Star pattern on the daily chart. Its immediate resistance level is now placed at 26,000 while immediate support is at 25,850.

BANK NIFTY: The index opened flat at 54,110 and closed at 53,968. Bank Nifty has formed a bearish candlestick pattern on the daily chart. Its major resistance level is now placed at 54,250 while major support is at 53,650.

Indices closing for 24th September 2024
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Reliance Power: Stock surged 5% to hit the upper circuit after the Anil Ambani-led company announced a preferential issue of 46.2 crore equity shares worth Rs 1,524.60 crore at Rs 33 per share, a 14% discount to the previous closing price.

▪  Firstsource Solutions: Stock rose more than 6% after the firm announced that it acquired UK-based Ascensos, a customer experience outsourcing partner for retail and eCommerce businesses, for £42 million.

▪  IEX: Stock tumbled 11.5%, retreating from its 52-week high after a news report suggested that the Centre is planning on implementing market coupling for power exchanges.

Global News 

▪  European stocks were higher on Tuesday, buoyed by China’s central bank monetary stimulus measures, and brushing off concerns over Europe’s growth outlook.

▪  Gold prices surged to a record high on Tuesday as a cocktail of factors, from hopes of further U.S. rate cuts and China stimulus measures to elevated Middle East tensions, lifted demand.

▪  Oil prices rose on Tuesday on concerns that the Middle East conflict could hit regional supply while another hurricane threatened supply in the United States, the world’s biggest crude producer.


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