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Market Report

Friday, 16-Oct-2015


  • The S&P BSE Sensex opened flat but then had lost nearly 100 points before the late-session rally that helped it end the day 204.46 points, or +0.76 per cent, higher at 27,214.60 while the 50-stock barometer Nifty50 gained 58.65 points, or +0.72 per cent, to end the day at 8,238.15 amid firm global cues.

  • The domestic market staged a smart recovery on Friday after rangebound trading through the day. The rally helped the benchmark indices end the week with gains for the fourth consecutive week. The Sensex ended the week with gains of 136 points, or +0.5 per cent while the Nifty50 closed with gains of 48.3 points, or +0.6 per cent.

  • Nifty likely to meet resistance at 8,400, says Ashwani Gujral. The 200-day moving average for Nifty is placed at 8,400. That has a declining trend line of the the recent move from 9,200 to 7,500 level on the index. But FII flows are nothing to talk about and 8,400 on the index will need more money than what we have received. Friday saw a bit of short coverings. Let us see if we find follow through buying on Monday. But another 100-150 points is likely from here, he adds.

  • After market hours today: RIL results have beaten expectations of all analysts in the market and the Q2 numbers have come really good as the company surpassed Street expectations with its September quarter numbers today. Most experts tracking the stock expect a gap-up opening in the range on 2-5 per cent when the stock reopens for trading on Monday.

NIFTY 3-Month

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