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Market Report

Thursday, 25-Aug-2016

NSE

  • The 30-share Sensex of the Bombay Stock Exchange opened at 28,103 against its previous close of 28,059, hit an intraday high of 28,154 and a low of 27,843 before closing at 27,835.91 today, down 224.03 points, or -0.80 per cent. On similar lines, the broader Nifty50 index of the National Stock Exchange lost 58.10 points, or -0.67 per cent, and fell below the crucial psychological level of 8,600 to end the day at 8,592.20 today.

  • Dalal Street witnessed another cautious trading session today, but things went haywire in the last hour of trade and the benchmark indices fell sharply, tracking weak opening in European markets. Investors turned jittery on the expiry of August series F&O contracts even as they awaited Fed Chair Janet Yellen's speech at Jackson Hole, scheduled for Friday.

  • The Nifty50 pared gains on Thursday and slipped below the crucial support level at 8,600 in the last one hour of trade. In the process, the index formed a 'Large Bearish' candle and a 'Bearish Engulfing' pattern on the daily candlestick charts. This candlestick pattern suggests the bears were able to regain control on the market after rangebound activity in the last few sessions. It usually marks the end of an upward trend but as long as the Nifty50 stays above the 8,540 level, chances of a recovery will remain alive as today's fall can be one off due to F&O expiry, say experts.

NIFTY 3-Month

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