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Market Report

Friday, 16-Dec-2016


  • The 30-share Sensex closed 29.51 points, or -0.11 per cent, down at 26,489.56 today, while the 50-share Nifty index settled 14.15 points, or -0.17 per cent, down at 8,139.45 today. Benchmark equity indices Sensex and Nifty swung between gains and losses today and ended marginally in the red amid brisk selling in healthcare, FMCG, energy and metal stocks on mixed Asian cues.

  • The benchmark indices ended the today's session lower as markets looked to settle down after the US Federal Reserve on Wednesday issued an outlook that was more hawkish than expected. Global markets remained on the sideways today, and the BSE Sensex crawled in a 140-point range, as traders went light on their bets, waiting in the wings to first get more clarity on dollar movement.

  • The Nifty50 broke below its crucial psychological support level at 8,150 today and formed a 'Bearish Belt Hold' pattern on the daily candlestick charts for the third time this week. The Nifty50 opened with slight upside but failed to hold above the 8,150 level and drifted steadily towards its intraday low of 8,127. It witnessed sustained selling pressure for most part of the session. If it stays below the 8,150 level, chances of a further decline cannot be ruled out.

NIFTY 3-Month

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