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Market Report

Monday, 16-Jan-2017

NSE

  • The 30-share index closed 50.11 points, or +0.18 per cent, up at 27,288.17 today, while the 50-share Nifty settled 12.45 points, or +0.15 per cent, higher at 8412.80 today. 33 stocks advanced from the Nifty50 index, while 18 stocks ended in the red.

  • The domestic equity market settled in the green today with marginal gains on account of some buying in frontline bluechip counters. Among the sector-related stocks, metals, gems and jewellery as well as fertilisers stood among the top gainers, while glass, rubber, petroleum and engineering sector-related stocks remained among top losers.

  • Mixed macroeconomic data precluded the emergence of a trend in the market today. Inflation based on wholesale price index (WPI) rose 3.39 per cent in December 2016 from 3.15 per cent in November 2016. On the other hand, India's exports rose 5.72 per cent to $23.88 billion and imports rose 0.46 per cent to $34.25 billion in December 2016 over December 2015.The trade deficit declined by 9.9 per cent on a year-on-year basis to $10.37 billion in December 2016.

  • Nifty50 today saw a lacklustre trading with the index trading in a narrow 50-point range throughout the session. It finally ended up forming a small bull candle on the daily chart. While, the upside looks limited, the index is likely to trade with a positive bias going ahead. The index will face resistance at 8,447, which is its 100-day simple moving average (SMA). Momentum indicator has weakened a bit but MACD is still throwing strong signals.

NIFTY 3-Month

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