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Market Report

Thursday, 26-May-2016

NSE

  • The S&P BSE Sensex surged as much as 485.51 points to blow past the key psychological level at 26,000 and end at 26,366.68 today with a rise of 485.51 points, or +1.88 per cent. The Nifty settled at 8,069.65 today, up 134.75 points or +1.70 per cent. The Nifty made a high of 8,083.00 and a low of 7,948.50 in intraday trade today. Yesterday, the Nifty had gone up +2.40 per cent or 186.05 points, scoring its biggest intraday percentage gain since february 15th.

  • With the BSE benchmark Sensex reclaiming the 26,000 mark and Nifty50 crossing of the crucial hurdle at 8,000 for the first time since November 5, 2015 on the day of F&O expiry, Dalal Street reflected investors' bullish bias on the market. While hope of an above-normal monsoon this year has kept the sentiment upbeat, crude prices rose near the $50 a barrel mark during the day, lifting investor sentiment.

  • Equity markets the world over seem to be in a happy state of mind for now. European markets opened firm, following a bailout deal on a contingency fiscal mechanism for Greece. US Dow futures were hinting at a good start to the US market later in the day.

  • Experts expect further upside in the market. Nifty50 getting past the 7,980-8,000 levels suggests we should head towards 8,150, possibly 8,240 in June. The index still remains positively biased, though it might take a breather after having seen two days of rally, said Mitesh Thacker.

NIFTY 3-Month

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