POST-MARKET SUMMARY 8th April 2024

On April 8th, both the benchmark Nifty 50 and the 30-stock Sensex commenced trading with gains and maintained momentum to achieve new record highs. This upward trajectory was supported by positive signals from global markets, along with a rally in prominent auto stocks and select heavyweights such as Reliance Industries. Additionally, the Nifty Bank index reached unprecedented levels, surpassing the 48,700-mark for the first time, driven by renewed investor confidence amid expectations of political stability surrounding the forthcoming Lok Sabha Elections in 2024. In terms of sectoral performance, auto, energy, infrastructure, metal, and real estate saw gains of 1-2%, while PSU banks, information technology, and media indices experienced declines of 0.5-1%.

NIFTY:  The index opened 65 points higher at 22,578 and made a high of 22,697 before closing at 22,666. Nifty has formed a bullish candle on the daily chart. Its immediate resistance level is now placed at 22,700 while immediate support is at 22,620.

BANK NIFTY: The index opened 93 points higher at 48,586 and closed at 48,581. Bank Nifty has formed a Doji candlestick pattern on the daily chart. Its immediate resistance level is now placed at 48,700 while support is at 48,400.

Indices closing for 8th April 2024
Major Market Indices data
FII/DII Data
Nifty Gainers & Losers

Stocks in Spotlight

▪  Godrej Properties:  Stock surged 3% after the company announced it sold homes worth over Rs 3,000 crore in Gurugram.

▪  Nykaa:  Stock zoomed over 6% after the company stated that it anticipates a "high twenties" on-year growth in revenue during the March quarter.

▪  Bandhan Bank: Stock fell more than 6% after chief executive officer and managing director Chandra Shekhar Ghosh announced his decision to step down.

Global News

▪  U.S. Treasury yields were higher on Monday as investors digested Friday’s jobs report and looked ahead to key data slated for the week that could provide hints about the outlook for interest rates.

▪  The dollar rose slightly on Monday as investors looked ahead to U.S. inflation data later this week, while the yen slipped close to 34-year lows as traders remained on alert for any potential action in Tokyo to support the weakening currency.

▪  Gold prices rose on Monday to hit a record peak for the seventh consecutive session, a move that analysts anticipate could be driven by strong official sector demand from Asia, despite traditional headwinds from a stronger U.S. dollar and elevated interest rates.


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.