POST-MARKET SUMMARY 25th November 2024

On November 25, the Indian equity market extended the previous session's rally, closing on a strong note as the BJP-led Mahayuti alliance secured a decisive mandate in the Maharashtra elections. Supported by positive global cues, the indices opened with a significant gap-up and continued to gain momentum in the first half of the session. However, profit-booking at higher levels trimmed some intraday gains before the market ended in positive territory. Among sectors, oil & gas, realty, capital goods, and PSU banks advanced by 2-4%.

 Also read: Beyond the Ballot: What Really Drove Today’s Stock Market Rally

NIFTY:  The index opened 346 points higher at 24,253 and made a high of 24,351 before closing at 24,221. Nifty has formed a small bearish candle with upper and lower shadows, resembling a “High Wave” kind of pattern on the daily chart. Its immediate resistance level is now placed at 24,350 while immediate support is at 24,180.

BANK NIFTY: The index opened 921 points higher at 52,046 and closed at 52,207. Bank Nifty has formed a bullish candlestick pattern with a lower shadow on the daily chart. Its immediate resistance level is now placed at 52,400 while immediate support is at 51,900.

Stocks in Spotlight

▪  Central Bank of India: Stock surged 9% after receiving RBI approval to enter the insurance sector through a joint venture with the Generali Group.

▪  Rail Vikas Nigam Ltd: Stock gained 4% after securing a letter of acceptance from Eastern Railway for an infrastructure project involving earthwork, bridge construction, and track laying.

▪  Zomato: Stock climbed over 3% following its inclusion in the 30-stock Sensex and approval for a Rs 8,500 crore Qualified Institutional Placement (QIP).

Global News

▪  Gold prices dropped 2% as investors booked profits after a five-session rally, while the appointment of the new U.S. Treasury Secretary curbed safe-haven demand.

▪  Oil prices stabilized on Monday after last week's 6% surge, as rising tensions between Western powers, Russia, and Iran fuelled concerns over potential supply disruptions.

▪  The dollar eased on Monday as the U.S. Treasury secretary pick reassured the bond market on fiscal discipline, lowering yields and reducing the currency’s rate advantage.

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.