IntradayTrade dot Net dot IN
Market Report

Tuesday, 17-Nov-2015


  • The S&P BSE Sensex ended the day with a gain of 104.37 points, or +0.41 per cent, at 25,864.47 while the 50-stock barometer Nifty50 closed at 7,837.55, up 30.95 points, or +0.40 per cent. GAIL and ITC were the top gainers on the BSE benchmark.

  • The domestic market displayed strength for the second consecutive session today, tracking strength seen in European and other Asian markets on the back of a rally in the US market in overnight trade. Still caution prevailed in our markets after disappointing corporate earnings for the July-September quarter. The upside was capped due to selling pressure seen among select IT stocks. Foreign institutional investors (FIIs) have been net sellers of equities worth $506.37 million so far this month.

  • Nifty likely to consolidate, but banks may lift index to 7,950, said Mitesh Thacker. Around 7,850-7,870, there is some kind of supply zone on Nifty50's intraday charts. There is a chance that we might actually break beyond that level if the banks start regaining momentum. That is one of the outperforming sectors in the short term. If that were to happen, I would believe that the bounceback would get extended by about 100 points. So on the upside, we might rise to about 7,950-7,980, he says.

  • Market may remain flat with negative bias, says Sudip Bandyopadhyay. Unfortunately, the market does not have too many positive triggers. That will make the market move in a range. There though remains a lot of company-specific news flows. So that will let the market move. Otherwise, there are absolutely no triggers. The market will surely wait for the US Fed policy action scheduled for next month. But till then, the market is going to be flat with maybe a mild negative bias, he says.

NIFTY 3-Month

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