Latest After the Bell @ 4:00 PM – Monday, November 4th, 2024
Riddhi Siddhi Share Brokers Market Update
Nifty slides below the 24,000 mark despite positive Wall Street trends.
- NIFTY: -309, closes at 23,995
- Sensex: -942, closes at 78,782
- Bank Nifty: -447, closes at 51,227
Market Recap by Riddhi Siddhi Share Brokers
- Bears firmly control the market as Nifty fails to sustain last week’s positive momentum, ending below the psychological 24,000 mark. Wall Street’s upbeat cues offered no support to Indian indices.
- Bank Nifty also posts a lackluster close, continuing its downward trend.
- Market Breadth: Broadly bearish across the board, with all sectoral indices closing in red.
Riddhi Siddhi Share Brokers’ Stock Highlights
Top Gainers:
- M&M: +2.14%
- TECHM: +1.86%
- CIPLA: +1.57%
- SBIN: +1.10%
- DRREDDY: +0.82%
Top Losers:
- HEROMOTOCORP: -4.25%
- GRASIM: -3.96%
- BAJAJ AUTO: -3.46%
- ADANIPORTS: -3.26%
- BPCL: -3.05%
Key Market Indicators
- Advance-Decline Ratio: 08–42
- India VIX: 16.68 (+4.91%)
- NIFTY PCR (7th Nov): 0.62
- NIFTY PCR (28th Nov): 1.29
Other indices:
- Nifty MidCap 50: -0.96%, 15,499
- Nifty SmallCap: -2.04%, 18,412
- Nifty IT: -0.07%, 40,407
- USD/INR: +0.05%, at 84.18
Riddhi Siddhi Share Brokers’ Outlook for Tuesday’s Trade
Key Influences to Watch
- US Presidential Election: As US voters head to the polls on November 5, markets may react to election outcomes.
- FOMC Meeting Outcome: Scheduled for Thursday, November 7, could drive market volatility.
Technical View on Nifty:
The benchmark shows signs of weakness, with support expected around the 23,500 mark and major resistance near 24,500. Nifty’s 200 DMA stands at 23,457.
Riddhi Siddhi Share Brokers’ Stock Watchlist
Bullish Stocks (Short-Term)
- SBIN
- M&M
- SIEMENS
Bullish Stocks (Long-Term)
- NATIONALUM
- TEJAS NETWORKS
- NTPC
Bearish Stocks
- RELIANCE
- HEROMOTOCORP
- TITAN
Stocks to Avoid
- PEL
- INDIAMART
- ASIANPAINTS
Disclaimer by Riddhi Siddhi Share Brokers
The trading ideas, recommendations, and analyses provided here may not be suitable for all investors. This content is solely for educational purposes and does not constitute investment advice. Stock market investments carry risks, and investors should consult their financial advisor before making investment decisions. Riddhi Siddhi Share Brokers is registered Authorised Person but this does not guarantee performance or returns.