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Market Report

Tuesday, 22-Dec-2015

NSE

  • The S&P BSE Sensex plummeted 145.25 points, or -0.56 per cent, to close the day at 25,590.65 while the 50-stock barometer Nifty50 ended at 7,786.10 points, down 48.35 points, or -0.62 per cent.

  • Markets closed the session on a weak note weighed down by software technology shares on the back of sharp increase in US visa fees. Tracking weak cues from European markets, our market erased most of today's morning gains, as selling pressure on FMCG and IT counters weighed heavy on the benchmark indices. Investor sentiment was also affected by skittish trade seen in other Asian and European markets.

  • It is now very clear that the 7,850 level on Nifty50 has acted as some kind of resistance in last four sessions, said Sandeep Wagle. Till that is broken out, a fresh move towards 7,950 will be difficult to achieve but the positive thing is that in the last four days, twice we have made a bottom at 7,730-7,740. We did not see the index go anywhere. We are running into a holiday-truncated week with another two days of trading left. I do not see it break the 7,850 level. I do not see it break 7,730-7,740 levels on the downside either. I would play individual stocks and less volumes means that you will not get clear and concise moves, so best avoid it is what I would say, he adds.

NIFTY 3-Month

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