POST-MARKET SUMMARY 26 June 2023
On June 26, the Nifty remained rangebound within a range of 50-60 points. The domestic market sentiment was negatively affected by weak cues from Asian and European markets. In a session marked by selective buying in important sectoral stocks, the benchmark indices concluded with a mixed performance, remaining within a restricted trading range.
NIFTY: The index opened 17 points higher at 18,682 and made a high of 18,722 before closing at 18,691. Nifty has formed a Doji candlestick on the daily chart, indicating a tug-of-war between the bulls and the bears. Its immediate resistance level is now placed at 18,800 while support is at 18,600.
BANK NIFTY: The index opened 92 points higher at 43,714 and closed at 43,641. Bank Nifty has formed a small bearish candle on the daily chart. Its immediate resistance level is now placed at 43,800 while support is at 43,500.
Stocks in Spotlight
▪ Eros International: Stock fell 8.7% after SEBI barred the company, its MD and CEO from trading in the stock markets.
▪ Parag Milk: Stock gained 14% as veteran investor Nikhil Vora upped his stake in the company.
▪ Capacite Infraprojects: Stock jumped 6.7% after the company received a Rs 452.50-crore order for the construction of residential and commercial towers in the National Capital Region.
Global News
▪ Asia-Pacific markets started the final week of June on a mixed note, after the US markets snapped a multi-week winning streak on Friday.
▪ Tesla shares slipped 1.9% after Goldman Sachs became the latest Wall Street bank to downgrade the electric vehicle maker to 'neutral' from 'buy'.
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