POST-MARKET SUMMARY 28 July 2023
Post-market report and news around trending stocks.
On July 28, the Indian equity indices started the August series on a negative note, extending losses for the second consecutive session. The market experienced selling pressure in the IT, banking, and oil & gas sectors. The day began on a flat note amid mixed global cues and witnessed increased selling activity as it progressed.
NIFTY: The index opened flat at 19,659 and made a high of 19,695 before closing at 19,646. Nifty has formed a Doji kind of candlestick pattern on the daily chart, indicating indecisiveness among bulls and bears about the future market trend. Its immediate resistance level is now placed at 19,720 while immediate support is at 19,520.
BANK NIFTY: The index opened 119 points lower at 45,560 and closed at 45,468. Bank Nifty has formed a small bearish candlestick pattern with long upper and lower shadows on the daily chart. Its immediate resistance level is now placed at 45,650 while support is at 45,200.
Stocks in Spotlight
▪ Intellect Design Arena Ltd: Stock jumped 20% after reporting a strong set of numbers for the June quarter. Revenue was up 18% YoY at Rs 639 crore.
▪ Indiabulls Housing Finance Ltd: Stock surged over 6.5% after its board approved raising up to Rs 35,000 crore. The company said it will seek shareholders’ approval for the fundraise, which will happen through the issue of NCDs and/or bonds.
▪ Railtel Corporation of India Ltd: Stock fell nearly 6% after the company reported a 16% contraction in the EBITDA margin during the June quarter.
Global News
▪ On Friday, gold prices remained close to their two-week lows as the dollar and bond yields gained strength due to robust US economic data in a high-interest rate setting. Consequently, the non-interest-bearing metal was pulled towards its most significant weekly decline in five weeks.
▪ Japan’s Nikkei 225 slid as much as 2.4% on Friday after the Bank of Japan adjusted its stance on its yield curve control policy.
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.