POST-MARKET SUMMARY 30th April 2024

On April 30, the market wiped out all intraday gains after hitting a fresh high, ultimately closing lower due to selling pressure in the IT, metal, media, and oil & gas sectors. By the session's end, the Sensex experienced a decline of 188.50 points or 0.25%, settling at 74,482.78, while the Nifty saw a drop of 38.60 points or 0.17%, closing at 22,604.80. Among sectors, IT, metal, media, and oil & gas observed declines of 0.4% to 1%, whereas auto, power, and realty registered gains of over 1% each. 

Also Read: Nifty Hits New High Before Settling Lower | Insights & Outlook

NIFTY:  The index opened 36 points higher at 22,679 and made a high of 22,783 before closing at 22,604. Nifty has formed a bearish candlestick pattern on the daily chart. Its immediate resistance level is now placed at 22,660 while immediate support is at 22,520.

BANK NIFTY: The index opened 53 points higher at 49,477 and closed at 49,396. Bank Nifty has formed a small-bodied bearish candlestick with long upper shadow on the daily chart. Its immediate resistance level is now placed at 49,600 while support is at 49,050.

Indices closing for 30th April 2024
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Jana Small Finance Bank: Stock hit 20% upper circuit as investors cheered the lender's plans to apply for a universal bank license by May-June 2025.

▪  Tata Chemicals:  Stock fell as much as 3%, bogged down by the company's weak earnings performance in the January-March quarter.

▪  SBFC Finance: Stock fell 5% after a block deal worth Rs 534 crore took place on the exchanges.

Global News

▪  Safe-haven gold was poised for a third consecutive monthly gain as geopolitical risks and central bank demand lifted bullion’s appeal, although prices fell on Tuesday as market focus shifted to the Federal Reserve’s policy meeting.

▪  European markets were lower on Tuesday as a flurry of earnings and key data points were released.

▪  The yen dropped against the dollar on Tuesday, giving up some of its sharp gains the previous day sparked by suspected intervention by Japanese authorities.


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