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Market Report

Tuesday, 31-May-2016


  • The S&P BSE Sensex ended down 57.64 points, or -0.22 per cent, at 26,667.96 today and the Nifty50 settled 18.40 points, or -0.22 per cent, lower at 8,160.10 today. In the broader market, the BSE Midcap and Smallcap indices ended down 0.1%-0.3% each.

  • Markets snapped five-day winning streak, amid a volatile trading session, with Sun Pharma leading the decline after its fourth quarter earnings missed street estimates and weak annual sales guidance. Benchmark share indices had surged nearly +6% in the previous five session with the Sensex adding nearly 1,500 points on expectation of above normal monsoon, positive earnings surprises and buying support from domestic institutions.

  • The S&P BSE sensex opened a good 100 points higher while the broader Nifty50 reclaimed the coveted 8,200 mark in opening trade. But the market slipped into the negative zone soon after and traded with losses through the day.

  • The Nifty50 might have ended on a muted note on Tuesday, but the moving averages formed an important and a rare pattern on the daily charts, known as a 'Golden Cross', after 30 months. A Golden Cross occurs when the short-term moving average, such as the 50-day exponential moving average (EMA) of the underlying index, crosses the long-term moving average, such as the 200-DMA. The last time a Golden Cross was visible on the daily charts of Nifty50 in October 2013. The index saw a 50 per cent rally from that level and hit a fresh record high of 9,119.

  • After market hours: India's GDP grows +7.9% in March quarter; +7.6% in 2015-16. Pro-growth policies of the Modi government have helped gross domestic product grow. This will bring cheer in the market tomorrow.

NIFTY 3-Month

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