Post-Market Analysis

Date: 20th March 2024

1. Overview:

Indices:

● Indian benchmark indices had climbed down from their intraday

highs, but still ended the day in positive territory on Wednesday
ahead of the US Federal Reserve's interest rate decision and
commentary regarding when it might start cutting rates.
● Sensex, which had opened marginally higher at 72,036.86,
climbed to a high of 72,402.67 in intraday trades, pared some
gains later. At close, Sensex was up 140.80 points, or 0.20%, at
72,152.85.
● The broader market ended the day on a mixed note, with the
BSE MidCap index closing up 0.05%, and the BSE SmallCap
index down 0.14%.
● Across sectors, the Oil & Gas index closed with the highest
gains, up 1.29%, followed by the Realty index, which was up
0.62%.
 ● NIFTY

The Nifty 50 closed the day at up (0.17%) in comparison with its

previous close. It has touched an intraday low of 21710.2 and high of
21930.9
Nifty 50 futures are at 21915.55 (0.13%) with an open interest change
of 0.28% which indicates Continuation of bullish trend in near future

● We saw a range bound market in today's session

● Nifty might test the next support at 21717
● Resistance at 21912 and 21979
● Support at 21826 and 21770
 ● BANK NIFTY

The Bank Nifty closed the day at up (0.0%) in comparison with its
previous close. It has touched an intraday low of 45828.8 and high of
46655.55

Bank Nifty futures are at 46456.9 (0.02%) with an open interest

change of 4.68% which indicates Continuation of bullish trend in near
future

● The market saw small reversal to the upside

● Bank nifty reversed from the support of 45919
● Resistance at 46708 and 46861
● Support at 46330 and 46066
2. Top gainers and losers

Company Current % Gain

INDUS TOWERS 250.70 5.23

Eicher Motors 3,873.60 4.22

Maruti Suzuki 11,941.15 2.97

Cummins 2,793.80 2.87

NMDC 205.80 2.7

Company Current % Loss

Tata Chemicals 1,031.30 -7.99

Hindustan Aeron 2,980.50 -2.56

Astral Ltd 1,904.85 -2.4

Page Industries 33,233.85 -2.35

Aditya Birla F 202.15 -2.2

3. SECTORS

● Most sectoral indices ended with losses today, with Nifty Metal
(down 0.79 per cent) as the top loser.

● Nifty Bank slipped 0.16 per cent while the Private Bank index fell
0.29 per cent. Nifty PSU Bank ended with a mild gain of 0.05 per
cent.

● Among the gainers, Nifty Oil & Gas (up 1.29 per cent) stood at
the top, followed by Nifty Realty (up 0.62 per cent).
● The market mood index is at 37.17 up from 35.95 indicating less
fear among the traders and the investors.
4. IPO

● SRM Contractors Ltd

Open Date 26 Mar, 2024
Close Date 28 Mar, 2024
Lot Size 70
Minimum Investment ₹14,700.00
Issue Price ₹ 200 - ₹ 210
Listing Date 03 Apr, 2024
Listing On BSE,NSE

Issue Size ₹ 130.20 Cr

Face Value ₹ 10
 Total Shares Offered 6,200,000
Offered To Public 2,170,000
Retail Max (Shares/Amount) 910/₹191,100

Important Dates

26 Mar 2024 - Opening date

28 Mar 2024 - Closing date
01 Apr 2024 - Basis of Allotment
02 Apr 2024 - Initiation of Refunds
02 Apr 2024 - Credit of Shares
03 Apr 2024 - Listing date

5. Top Gainers & Losers

● Eicher Motors | CMP Rs 3,875 | Shares of Eicher Motors surged

4 percent after brokerage UBS upgraded its rating to "buy" with a
35 percent upside, citing the company's new launches and
lackluster performance of its peers.
● Aurobindo Pharma | CMP Rs 1,017.4 | The Aurobindo Pharma
stock gained 2.7 percent after the company received US Food &
Drug Administration (USFDA) approval for a nasal spray.
● Shakti Pumps | CMP Rs 1,319 | The Shakti Pumps stock fell
nearly 4 percent after the water pump company opened qualified
institutional placement (QIP) to raise up to Rs 200 crore. The
floor price for the issue has been fixed at Rs 1,272.09, a 5
percent discount to the previous day's closing price.
● Maruti Suzuki | CMP Rs 11,925.25 | Shares of Maruti Suzuki
zoomed 2.83 percent with strong volumes as the stock crossed
the Rs 12,000-mark in the session. Eleven lakh shares changed
hands compared to the monthly average of 5 lakh. CLSA
recently said Maruti will maintain its top position in the CNG PV
segment with a 72 percent share.
● Cyient | CMP Rs 2,010 | The Cyient stock gained 1.77 percent
after brokerage JP Morgan initiated coverage with an
'overweight’ call with a target price of Rs 2,600, implying an
upside of around 31 percent.
● Syrma SGS Technology | CMP Rs 482.15 | Shares of Syrma
SGS Technology jumped 1.62 percent after Jefferies issued a
"buy" rating on the stock with a target price of Rs 640 a share.

● 6. Key takeaways

● The market closed with moderate gains on March 20 after a

choppy session, as investors remained cautious ahead of the
Federal Open Market Committee (FOMC) meeting outcome.
● The market failed to hold on to the opening gains and gyrated
between gains and losses throughout the day but buying in auto
and energy names helped the benchmark indices close higher.
● At close, the Sensex was up 89.64 points or 0.12 percent at
72,101.69, and the Nifty was up 21.60 points or 0.10 percent at
21,839.10.
● Top gainers on the Nifty included Eicher Motors, Maruti Suzuki,
Power Grid Corporation, Nestle India and ONGC, while losers
were Tata Steel, Tata Consumer Products, Tata Motors, Axis
Bank and Cipla.
 ● Among sectors, auto, FMCG, realty, oil & gas, power were up
0.5-1 percent each, while the metal index was down nearly a
percent.

NDEX PRICES CHANGE CHANGE%

Sensex 72,101.69 89.64 +0.12%

Nifty 50 21,839.10 21.65 +0.10%

Nifty Bank 46,310.90 -73.90 -0.16%

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