POST-MARKET SUMMARY 9th April 2024

On April 9, the Sensex and the Nifty hit new all-time highs in opening trade. However, the benchmark indices couldn't maintain these gains due to profit-booking before the release of crucial inflation data for both India and the US. Regarding sectors, auto, capital goods, FMCG, energy, infrastructure, oil and gas, and pharmaceuticals saw declines ranging from 0.3% to 1%, while banking, metals, and real estate indices experienced gains of 0.3% to 1%.

NIFTY:  The index opened 99 points higher at 22,765 and made a high of 22,768 before closing at 22,642. Nifty has formed a bearish candle on the daily chart. Its immediate resistance level is now placed at 22,700 while immediate support is at 22,580.

BANK NIFTY: The index opened 229 points higher at 48,810 and closed at 48,730. Bank Nifty has formed a spinning top candlestick pattern on the daily chart. Its immediate resistance level is now placed at 48,950 while support is at 48,550.

Stocks in Spotlight

▪  Ajmera Realty:  Stock jumped over 5% after the realty player announced it sales crossed Rs 1,000 crore in FY24.

▪  Gland Pharma:  Stock declined more than 2% after a Rs 1,590- crore block deal.

▪  JTL Industries: Stock gained more than 2% after the company acquired a controlling stake of 67% in Nabha Steels & Metals, based in Punjab.

Global News

▪  Gold prices hit a record high for an eighth consecutive session on Tuesday with support from momentum-following funds and inflated geopolitical tensions.

▪  European markets were lower on Tuesday as investors look ahead to more key economic data this week, including U.S. inflation figures which will be released on Wednesday.

▪  The dollar struggled for direction on Tuesday as investors were cautious ahead of inflation data due on Wednesday, while U.S. Treasury yields rose with markets scaling back their bets on future Federal Reserve rate cuts.

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.