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Market Report

Wednesday, 30-Dec-2015

NSE

  • The S&P BSE Sensex remained rangebound through the day before closing at 25960.03, down 119.45 points or -0.46 per cent. Nifty50, the 50-stock barometer, ended 32.70 points, or -0.41 per cent, lower at 7,896.25 today.

  • A day ahead of the December series F&O expiry, domestic equity benchmarks remained rangebound on Wednesday, even as year end holiday mood slowed down activity on Dalal Street. Benchmark indices ended marginally lower amid profit taking in late trades weighed down by select index heavyweights. Weak cues from European as well as other Asian markets also weighed heavy on the day's proceedings.

  • US stock indexes were marginally lower today evening as Brent crude retreated to near 11-year low. Earlier today, The European markets traded weak as oil prices continued to slump throughout the day. Most other Asian markets traded mixed after Japan and China's benchmark share indices ended with marginal gains while almost all others ended red. Trading volumes are expected to remain thin on the last trading days of the year.

  • Market trend has become mildly bearish going by the last one hour of action, said Sandeep Wagle. 7,900 on the Nifty50 should not have been broken, but it has been broken by 5 points. The momentum on the upside has been lost, though, in that sense I would expect a 40-50 point correction in the Nifty. I do not expect anything beyond that, so 7,840-7,850 should hold on. On the upside, 7,920-7,930 will act as a resistance and I would talk of a expiry somewhere around 7,870-7,880, he says.

NIFTY 3-Month

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