POST-MARKET SUMMARY 29 November 2023

On November 29, Indian equity benchmarks continued their upward momentum for the second consecutive day, as the Nifty crossed the 20,000 mark after a span of over two months. Top Gainer: Axis Bank | Top Loser: Adani Enterprise

Liquide Post-Market Summary 29th November 2023

On November 29, Indian equity benchmarks continued their upward momentum for the second consecutive day, as the Nifty crossed the 20,000 mark after a span of over two months. This surge was fuelled by positive global cues and substantial buying in heavyweight stocks. Barring realty, all other sectoral indices closed in the positive territory, with auto, bank, information technology, and oil & gas each gaining 1%. 

NIFTY:  The index opened 87 points higher at 19,976 and made a high of 20,104 before closing at 20,096. Nifty has formed a long-bodied bullish candlestick pattern. Its immediate resistance level is now placed at 20,135 while immediate support is at 20,000. 

BANK NIFTY: The index opened 201 points higher at 44,081 and closed at 44,566. Bank Nifty has formed a strong bullish candlestick pattern on the daily scale. Its immediate resistance level is now placed at 44,700 while support is at 44,400.

Indices closing for 29th November 2023
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Tata Motors:  Stock rose 2% as the market expects strong listing for Tata Technologies, which will be listed on November 30.

▪  BHEL:  Stock surged over 5% rallying for the fifth consecutive session after the Defence Ministry sealed a deal with the company to procure 16 upgraded super rapid gun mount (SRGM) and accessories for the Indian Navy.

▪  R R KabelStock slipped 1.22% on reports of income-tax searches at its offices across the country emerged. 

Global News

▪  Gold prices touched a nearly seven-month high on Wednesday propelled by an extended decline in the US dollar and bond yields as investors grew confident that the Federal Reserve would likely cut rates by the first half of next year.

▪  Asia-Pacific markets were trading lower on Wednesday, led by Hong Kong markets, while China’s benchmark index closed at its lowest level in over a month.

▪  European stocks moved higher after a negative start to the week, with Autos up 2%.

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