Post-market report and news around trending stocks.

Liquide Post-Market Summary 31st August 2023

The market again witnessed last-hour profit-booking, which erased all the intra-day gains and broke its three-day winning run-on August 31 in a volatile session amid the August F&O expiry. Markets traded volatile on the monthly expiry day and lost nearly half a percent, in continuation to Wednesday’s fall. Meanwhile, mixed moves continued the sectoral front wherein realty and IT edged higher while energy and FMCG witnessed pressure.

NIFTY: The index opened 28 points higher at 19,375 and made a high of 19,388 before closing at 19,253. Nifty has formed a bearish candlestick pattern on the daily chart with significantly higher volumes on expiry day. Its immediate resistance level is now placed at 19,500 while immediate support is at 19,200.

BANK NIFTY:  The index opened 33 points higher at 44,265 and closed at 43,989. Bank Nifty has formed a bearish candlestick pattern on the daily scale. Its immediate resistance level is now placed at 44,400 while support is at 43,600.

Indices closing for 31st August 2023
Major Market Indices data
Nifty Gainers & Losers

Stocks in Spotlight

Maruti Suzuki Ltd:  Stock closed over 2% higher after hitting a 52-week high of Rs 10,064 intraday ahead of the release of monthly sales figures. Investors also cheered global brokerage JP Morgan's analysis that placed India's leading automobile manufacturer on the positive catalyst watch.

Medplus Health Ltd:  Stock plunged nearly 9% after a block deal involving a 12.8% stake, worth Rs 1,319 crore, took place on the bourses.

Gallant Ispat Ltd:  Stock zoomed 7% after the company announced having received one out of the two railway rakes purchased from the East Coast Railway

Global News

▪  Asia-Pacific markets were mixed on Thursday as China’s factory activity contracted for a fifth straight month in August.

▪  Hong Kong’s Hang Seng index slid 0.55% in its final hour of trade, paring earlier gains. Mainland Chinese stocks were also in negative territory, with the CSI 300 index down 0.61% and closing at 3,765.27.

▪  Gold firmed near one-month highs on Thursday to cap this month’s losses as the odds of another US interest rate hike were trimmed by data earlier this week pointing to a slowing labor market, while traders keep their eyes on the upcoming inflation reading.

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