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Market Report

Tuesday, 17-Mar-2015


  • The 30-share index closed at 28,736.38 today, up 298.67 points or +1.05 per cent. It touched a high of 28,784.35 and a low of 28,435.45 in trade today. The Nifty ended at 8,723.30 today, up 90.15 points or +1.04 per cent. It touched a high of 8,742.55 and a low of 8,630.80 in trade today.

  • Benchmark share indices snapped a two-day decline and ended over 1% higher, amid a choppy trading session, led by financials on expectations that weak US economic data may prompt the US Federal Reserve not to announce a hike in interest rates at its two-day policy meet which begins later today. Today, nifty saw a gap up opening on the back of positive cues from global markets but could not holds the high levels, as the gap was filled in afternoon trade. There was a good recovery late in the day due to CAD.

  • Meanwhile, Finance Minister Arun Jaitley told lawmakers on Tuesday that India's current account deficit (CAD) will "hopefully" be less than 1% of gross domestic product (GDP) in the fiscal year that begins in April which further buoyed the trading sentiments.

  • Short term and medium term bias are negative for the markets, said Mudit Goyal of Technical Analyst SMC Global Securities. Breakdown of 8610 can open the door for further downside upto 8500 levels, which is 100EMA on daily chart where the Nifty has formed the 'Head and Shoulder' pattern, which is bearish in nature, he says.

NIFTY 3-Month

(Data/Charts courtesy NSEI/Yahoo!/iCharts/The Economic Times)