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Market Report

Thursday, 15-Sept-2016


  • The Sensex settled the day at 28,412.89 today, up 40.66 points, or +0.14 per cent. The Nifty50 edged up 15.95 points, or +0.18 per cent higher to end the day at 8,742.55 today. In the broader market, the BSE Midcap and Smallcap ended mixed. Market breadth ended positive with 1471 gainers and 1258 losers on the BSE.

  • After being rangebound for most part of the trading session benchmark share indices ended marginally higher amid a rally in late trades led by index heavyweight Reliance Industries. Domestic markets swung between gains and losses today, tracking muted regional stock markets, as concerns over the global central banks' ability to stimulate growth continued to hurt risk-appetite.

  • The Nifty50 recovered in the last hour of trade today to close 16 points higher from its previous close. In the process, the index formed a 'Dragonfly Doji' pattern on the daily candlestick charts. Such a pattern signals indecision among the traders, but it also points to the fact that the bulls managed to bring the index near its crucial level of 8,750. It has to reclaim this level for the bulls to sustain the momentum in Friday's session, experts said.

  • What we are seeing now is some amount of consolidation and a slightly range-bound market which should continue through the next trading session, on the back of uncertainties surrounding major central banks' moves, said Gaurang Shah of Geojit BNP Paribas.

NIFTY 3-Month

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