POST-MARKET SUMMARY 30 October 2023

On October 30, Indian indices registered their second consecutive session of gains. The market commenced with a lower opening due to mixed global cues, and initial hours saw a continuation of losses. However, a mid-session surge in buying, particularly in heavyweight stocks, as well as the oil & gas and real estate sectors, propelled the indices to close near their highest points of the day. 

NIFTY:  The index opened flat at 19,053 and made a high of 19,158 before closing at 19,140. Nifty has formed a bullish candlestick pattern with long lower shadow on the daily chart, indicating support-based buying. Its immediate resistance level is now placed at 19,200 while immediate support is at 19,100. 

BANK NIFTY: The index opened 61 points lower at 42,721 and closed at 43,039. Bank Nifty has formed a bullish candlestick pattern with long lower wick on the daily timeframe. Its immediate resistance level is now placed at 43,250 while support is at 42,800.

Indices closing for 30th October 2023
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪  BPCL:  Stock gained over 3% to Rs 346, snapping its five-day losing streak. The gains come after the company reported a consolidated net profit of Rs 8,501 crore in Q2 FY24.

▪  SBI Life Insurance Company Ltd:  Stock rose 1.8%, snapping a four-day losing streak. For Q2, it reported a net profit of Rs 380 crore, up 0.8% YoY.

▪  Piramal Pharma:  Stock surged over 3% after the company reported a 11% on-year growth in consolidated revenue and managed to report a net profit after a quarter of loss.

Global News

▪  European stock markets opened higher on Monday despite ongoing volatility in the Middle East, with investors keeping a close eye on the latest economic data out of Germany.

▪  Gold prices traded around the key $2,000 level on Monday, as investors positioned cautiously ahead of the US Federal Reserve’s policy meeting this week and haven demand due to the Middle East conflict provided a floor.

▪  Asia-Pacific markets started the week mixed ahead of key economic data from around the region.


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