POST-MARKET SUMMARY 2nd September 2024

On September 2, the record run on Dalal Street continued with the Nifty ending higher for the 13th consecutive session, supported by gains in banking, FMCG, and IT stocks. All other sectoral indices ended in the red, with capital goods, metal, healthcare, telecom, and media down by 0.4-1.6%. At close, the Sensex was up 194.07 points or 0.24% at 82,559.84, while the Nifty rose 42.80 points or 0.17% to 25,278.70.

NIFTY:  The index opened 98 points higher at 25,333 and made a high of 25,333 before closing at 25,278. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 25,350 while immediate support is at 25,200.

BANK NIFTY: The index opened 228 points higher at 51,579 and closed at 51,439. Bank Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 51,600 while support is at 51,200.

Stocks in Spotlight

▪  HPCL: Stock gained over 2% due to falling Brent crude prices, which are anticipated to improve the company’s profit margins.

▪  Hero MotoCorp: Stock rose over 2% as investors rejoiced at the company's better-than-expected monthly sales number for August.

▪  Gujarat Gas: Stock soared over 11% after the company’s board approved a merger involving Gujarat State Petroleum Corporation, GSPC Energy, and Gujarat State Petronet.

Global News

▪  Gold prices dipped on Monday as the dollar strengthened, while investors awaited key U.S. jobs data to firm their bets on the size of Federal Reserve’s interest rate cut expected this month.

▪  European stock markets drifted lower on Monday, with sentiment hit by disappointing regional activity data as well as renewed political uncertainty.

▪  Asia-Pacific markets were mixed on Monday, with some major markets reversing losses as investors assessed China's business activity numbers released over the weekend, while awaiting a slew of data due later this week.

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.