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Market Report

Tuesday, 14-June-2016

NSE

  • The BSE Sensex closed at 26,395.71 today, down 1.06 point or with zero per cent change, after falling for as much as 220.64 points intraday. The Nifty50 settled at 8,108.85 today, down 1.75 points or -0.02 per cent. Index heavyweights FMCG and banking stocks saved the day with a smart reversal late in the second half, like yesterday.

  • Markets finished flat amid a volatile trading session on the back of higher-than-expected consumer inflation and rise in the wholesale price index based inflation for the second straight month. US Fed and BOJ meets and the growing possibility that the UK might leave the European Union kept investors edgy throughout the session. Participants eagerly await the outcome of the US Fed's two-day meet scheduled to begin later today. The UK referendum is on June 23.

  • At home, the wholesale inflation was positive for the second straight month. The WPI inflation for the month of May was reported at 0.79 per cent as compared to 0.34 per cent in April. Reports of monsoon covering North-East India and hopes of a further push to the Goods and Services Tax bill by finance minister Arun Jaitley helped the market to bottle losses.

  • The Nifty50 showed a 'Hammer' formation on the Japanese candlestick charts for the second day in a row, suggesting that dips are getting bought into by smart investors, said Mazhar Mohammad of Chartview. This kind of price action augurs well for the bulls. The index is still trading inside the gap zone between 8,163 and 8,125 levels witnessed in last session. Hence, any close above this gap shall be considered as an initial sign of strength, he said.

NIFTY 3-Month

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