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Market Report

Tuesday, 03-Jan-2017

NSE

  • The S&P BSE Sensex opened the day at 26,616.92 against the previous close of 26,595.45 before settling at 26,643.24 today, up 47.79 points, or +0.18 per cent. The benchmark index hit an intraday high of 26,724.40 and a low of 26,488.37. The broader Nifty50 of the NSE closed 12.75 points, or +0.16 per cent, higher at 8,192.25 today. The Nifty witnessed a 71-point movement during the session and settled the day just below the 8200-mark.

  • Recovering from yesterday's losses, the domestic equity market today ended in the green, tracking positive Asian cues and a rebound in domestic banking stocks on hopes of a pickup in credit growth following cuts in lending rates. However, the gains were capped by the fall in core sector growth for November which was released on Monday after the market hours. The growth rate stood at 4.9 per cent in November whereas it stood at 6.6 per cent in October 2016.

  • The Nifty50 witnessed volatile trading but ended near its opening level today, which resulted in a Doji pattern similar to a 'Long-Legged Doji' on the daily candlestick charts. The pattern is neutral and suggests uncertainty, which requires confirmation, and analysts said traders should wait for a breakout above the 8,275 level before creating fresh long positions while a break below the 8,139 level could change the trend favouring the bears, experts said.

NIFTY 3-Month

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