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Market Report

Monday, 19-Dec-2016

NSE

  • Equity benchmark Sensex ended the day at 26,374.70 today, down 114.86 points, or -0.43 per cent. The 30-share pack, which opened at 26,505 against the previous close of 26,489, hit an intraday high of 26,505 and a low of 26,340. On similar lines, the broader Nifty50 index of the NSE closed at 8,104.35 today, down 35.10 points, or -0.43 per cent.

  • The domestic equity market ended at a two-week closing low, with telecom and consumer durables stocks leading the fall. Lack of positive cues, a fall in the rupee against the dollar and fear of outflow of foreign portfolio investments (FII) hurt emerging markets, including India, today.

  • The Nifty50 came under pressure today and closed marginally above its crucial support level of 8,100. In the process, it formed a 'Small Bearish' candle on the daily candlestick chart, which suggests rangebound activity for the coming sessions as well. The index is likely to trade in a range ahead of the expiry of December series F&O contracts, wherein the 8,055 level will act as a strong base and the 8,200 level might act as a crucial resistance for the index.

  • With markets heading into year end holidays, and FIIs showing preference to stay in cash, stocks slipped, said Anand James of Geojit BNP Paribas. The market will now look forward to RBI's December 22 briefing on demonetisation and the GST Council meeting for fresh cues, said James.

NIFTY 3-Month

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