POST-MARKET SUMMARY 29th January 2025
On January 29, the Indian benchmark indices extended their gaining momentum for the second consecutive session, with Nifty surpassing 23,150 amid broad-based buying across sectors. The rally was fuelled by strong global cues ahead of the US Federal Reserve’s rate decision later tonight.
Sectorally, media, capital goods, IT, metal, and realty surged 2-3%, while auto, banking, pharma, and oil & gas advanced 0.5-1.5%. The FMCG index declined 0.5%.
NIFTY: The index opened 69 points higher at 23,026 and made a high of 23,183 before closing at 23,163. Nifty has formed a bullish candlestick pattern on the daily chart. Its major resistance level is now placed at 23,220 while its immediate support is at 23,080.
BANK NIFTY: The index opened 131 points higher at 48,997 and closed at 49,165. Bank Nifty has formed a bullish candlestick pattern with a lower shadow on the daily chart. Its immediate resistance level is now placed around 49,280 while immediate support is around 48,850.
Stocks in Spotlight
▪ RailTel Corporation of India: Stock rebounded by over 4% after the company secured a significant order worth Rs 17 crore for IT infrastructure projects from M/s Navodaya Vidyalaya Samiti.
▪ TVS Motor: Stock jumped over 6% in early trade after reporting a 4.2% increase in net profit for the December quarter.
▪ KPIT Technologies: Stock surged over 8% after reporting a 20% rise in consolidated net profit for Q3FY25, amounting to Rs 187 crore.
Global News
▪ European markets edged higher on Wednesday as investors assessed a wave of corporate earnings reports.
▪ Japan and Australian stocks gained, tracking Wall Street’s rebound overnight, while several regional markets remained closed for the Lunar New Year holiday.
▪ The U.S. dollar held steady ahead of the Federal Reserve’s policy decision, with investors keen for signals on potential rate cuts, though no immediate policy change is expected.
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.