POST-MARKET SUMMARY 29 September 2023

On September 29, the Indian market rebounded from its previous day's decline, supported by strong gains in the metals and pharmaceutical sectors. However, the fall in information technology stocks restrained overall market gains. The Indian markets will remain closed on Monday, October 2, to observe Gandhi Jayanti, commemorating the birth anniversary of Mahatma Gandhi.

NIFTY: The index opened 58 points higher at 19,581 and made a high of 19,726 before closing at 19,638. Nifty has formed a bullish candlestick pattern with a long upper shadow on the daily chart. Its immediate resistance level is now placed at 19,700 while immediate support is at 19,500.

BANK NIFTY: The index opened 145 points higher at 44,445 and closed at 44,584. Bank Nifty has formed a small-bodied bullish candlestick pattern with long upper shadow & small lower shadow on the daily scale. Its immediate resistance level is now placed at 44,700 while support is at 44,200.

Stocks in Spotlight

▪  NTPC Ltd: Stock gained nearly 4% after an 800-MW plant went on stream. The rise in stock price also followed a "buy" call from ICICI Securities with a target price of Rs 300.

▪  Dr Reddy Labs:  Stock gained over 3%, making it the second biggest gainer on the Nifty after the company incorporated a step-down wholly owned subsidiary.

▪ Hindalco Industries:  Stock closed 5% higher after more than 37 lakh shares changed hands on the stock exchanges.

Global News

▪  Asia-Pacific markets largely climbed in the final trading day of the week, with Hong Kong’s Hang Seng index leading gains in the region and rising 2.67% in its final hour of trade.

▪  Oil prices edged higher on Friday and were headed for a gain of more than 2% for the week, driven by tight US supply and expectations of strong fuel demand in China during the Golden Week holiday.

▪  The dollar continued to ease from a 10-month high on Friday but was still headed for its biggest quarterly gain in a year.

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.