POST-MARKET SUMMARY 25th October 2024

On October 25, Indian markets extended their fall for a fifth consecutive session, with the Nifty breaking below 24,100 intraday amid widespread sectoral selling, except for FMCG. At close, the Sensex was down 662.87 points, or 0.83%, to 79,402.29, while the Nifty fell 218.60 points, or 0.90%, to 24,180.80.

Despite mixed global cues, the indices opened positively but quickly erased gains within the first hour, turning red. Losses deepened as the day progressed, with the Nifty slipping below 24,100. Among sectors, all indices ended in the red except FMCG, which rose 0.5%, while auto, capital goods, metal, oil & gas, power, telecom, and media fell 1-2%.

NIFTY: The index opened flat at 24,418 and made a high of 24,440 before closing at 24,180. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 24,270 while immediate support is at 24,100.

BANK NIFTY: The index opened 162 points lower at 51,369 and closed at 50,787. Bank Nifty has formed a long bearish candlestick pattern with long lower shadow on the daily chart. Its major resistance level is now placed at 51,000 while major support is at 50,400.

Stocks in Spotlight

▪  Bikaji Foods: Stock surged over 10% intraday after the company reported robust second quarter earnings.

▪  DCB Bank: Stock ended 6% higher after it reported a 23% year-on-year rise in net profit to Rs 155 crore for the second quarter.

▪  IndusInd Bank: Stock tanked nearly 20% after it reported a significant 39% drop in its consolidated net profit for the second quarter to Rs 1,331 crore.

Global News 

▪  Gold prices fell on Friday as some investors booked profit after its recent rally where it hit a record high, although ongoing tensions in the Middle East helped limit the decline.

▪  The dollar was set for a fourth weekly gain on Friday, as an uncertain backdrop for markets sent the yen near three-month lows ahead of an election in Japan over the weekend that could complicate the Bank of Japan’s (BOJ) plans to normalize rates.

▪  Oil prices were heading for a weekly gain of more than 2%, with Friday’s prices were little changed on the day as traders were kept on edge by simmering tensions in the Middle East ahead of a planned resumption in Gaza ceasefire talks in the coming days.

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.