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Market Report

Tuesday, 20-Dec-2016


  • The S&P BSE Sensex closed 66.72 points, or -0.25 per cent, lower at 26,307.98 today, with IT behemoth TCS (up 2.20 per cent) emerging as the top gainer and PSU lender SBI (down 2.62 per cent) as the biggest laggard. The 30pack index, which opened at 26,374.59 against the previous close of 26,374.70, hit an intraday high of 26,435.56 and a low of 26,241.43. On similar lines, the broader Nifty50 of the National Stock Exchange closed in the red at 8,082.40 today, down 21.95 points, or -0.27 per cent.

  • Taking a cue from the lacklustre trade in global markets, domestic equities today ended in the negative territory for a fifth straight session. The assassination of Russian ambassador to Turkey and the terrorist attack in Germany where a truck rammed into people in the Christmas market weighed on equities across the globe. Investors are cautious about a Russian retaliation and this increase in geopolitical tension could see most of them remaining on the sidelines.

  • The Nifty50 slipped below its crucial psychological support level of 8,100 today, but managed to recoup some of the intraday losses. It formed a 'Small Bearish' candle for a second day in a row, which also looked like a 'spinning top' kind of formation on the daily candlestick charts. The way the index managed to bounce back from its intraday low suggests that there could be some technical pullback as long as the Nifty50 trades above the 8,056 level on a closing basis, experts said.

  • The index is likely to trade in a range ahead of the expiry of December F&O series wherein the 8,056 level will act as a strong base and the 8,200-8,300 range might act as crucial resistance.

NIFTY 3-Month

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