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Market Report

Thursday, 05-Jan-2017

NSE

  • Boosted by strong Asian cues, the 30-share Sensex closed 245.11 points, or +0.92 per cent, up at 26,878.24 today, while the 50-share NSE Nifty settled 83.30 points, or +1.02 per cent, up at 8,273.80 today. According to the market experts, sustained buying interest at attractive levels kept equities in the green zone throughout the day.

  • Benchmark indices settled the day higher tracking global markets cues on upbeat economic data and rise in oil prices as investors were optimistic ahead of corporate earnings and Union Budget 2017. Sensex hit its highest in nearly two months during the day, while the broader NSE Nifty hit a near one-month high led by gains in metal, oil & gas, banking and auto sectors.

  • The technical picture of the Nifty50 changed completely in one session. The index formed a solid Bull Candle and closed above its 50-days moving average placed at 8,209 but failed to cross its 200-day moving average. The Nifty50 opened positive and witnessed sustained buying interest till the end of the session. It managed to surpass the immediate hurdle placed at 8,230 and is now headed towards the 8,282 level. The index managed to surpass its crucial resistance levels of 8,200, 8,230 and 8,250 in a single session, supported by strong global cues. If the momentum sustains, the rally could extend by another 100-200 points, experts said.

NIFTY 3-Month

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