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Market Report

Wednesday, 27-July-2016

NSE

  • Sensex ended the day +0.17 per cent, or 47.81 points higher at 28,024.33 today. The 50-share Nifty50 shut shop at 8,615.80 today, up 0.29 per cent or 25.15 points.

  • The S&P BSE Sensex still ended above the 28,000 mark. The NSE's Nifty50 rose above the psychological level of 8,550 to hit a fresh 52-week high at 8,665 after reclaiming the 8,650 level but slipped to end the day only marginally above the 8,600 mark in the absence of follow-up buying, a day ahead of the expiry of July series F&O contracts.

  • An early surge on Dalal Street lost momentum midway through to end on a muted note on Wednesday, as if to suggest the domestic equity market was confused. Reports of a huge monetary stimulus package from the Bank of Japan triggered a big rally in the market, lifting the benchmark Sensex by 234 points midway through. But the 30-stock pack lost momentum after a 300-point swing after tighter regulatory curbs made the Chinese market crack.

  • The Nifty50 moved in a 100-point range throughout the trading session on Wednesday and formed a 'Spinning Top' on the daily candlestick charts. A 'Spinning Top' is a neutral chart pattern, but investors should remain cautious as the market is still awaiting triggers for a decisive breakout.

NIFTY 3-Month

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