POST-MARKET SUMMARY 31st May 2024

On 31st May, the market experienced extreme volatility ahead of the GDP data announcement later today and the Lok Sabha general election 'Exit Poll' on June 1. Top Gainer: ADANIENT | Top Loser: DIVISLAB

Liquide Post-Market Summary 31st May 2024

On 31st May, the market experienced extreme volatility ahead of the GDP data announcement later today and the Lok Sabha general election 'Exit Poll' on June 1. Despite mixed global cues, the market opened positively, with Nifty starting the June F&O series above 22,550. It witnessed rangebound movement but ended higher, snapping a five-day losing streak.

Among sectors, metal, power, telecom, and realty were up 1-2%, while media, FMCG, healthcare, and information technology indices were down 0.3-1%.

NIFTY:  The index opened 80 points higher at 22,568 and made a high of 22,653 before closing at 22,530. Nifty has formed a bearish candlestick pattern on the daily chart, with long upper and lower shadows. Its immediate resistance level is now placed at 22,650 while immediate support is at 22,470.

BANK NIFTY: The index opened 213 points higher at 48,895 and closed at 48,983. Bank Nifty has formed a small bullish candlestick pattern on the daily chart, with a long lower shadow. Its immediate resistance level is now placed at 49,200 while support is at 48,500.

Indices closing for 31st May 2024
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Sunteck Realty: Stock gained nearly 3%, after the company released its Q4 results but ended the day lower as investors rushed to book profits.

▪  Welspun Corp: Stock tanked 9% after the firm's guidance for FY25 fell under the Street's expectations.

▪  Persistent Systems: Stock fell over 3% after the information technology major Salesforce lowered its guidance for FY25.

Global News

▪  European stocks moved higher on Friday afternoon as investors digested fresh euro zone inflation data and its implications for next week’s European Central Bank rate decision.

▪  Gold prices were set for a fourth straight monthly gain, even as the market struggled for momentum on Friday ahead of a key U.S. inflation reading that could provide more indications on how the Federal Reserve might proceed with rate cuts later this year.

▪  The dollar slid on Friday as traders await key inflation data after a downward revision to first-quarter U.S. economic growth suggested the Federal Reserve could still be on track to cut interest rates this year.


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.