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Market Report

Wednesday, 18-Jan-2017

NSE

  • The 30-share BSE Sensex settled 21.98 points, or +0.08 per cent, up at 27,257.64 today, while the 50-share NSE Nifty ended 19.00 points, or +0.23 per cent, higher at 8,417.00 today. 26 stocks advanced in the Nifty50 index, while 25 stocks ended the day in red.

  • The Sensex and the Nifty opened the day on a fairly buoyant note, but profit booking in late afternoon trade pushed markets to give up a large part of its gains. The domestic equity markets today closed near the flat line with minor gains despite the Sensex surging by nearly 200 points in intraday trade. The momentum on D-Street has slowed down after recent rally from Brexit lows but the bias is still on the positive side.

  • The Nifty50, which kicked off to a flying start today, could not sustain gains at higher level -- precisely its 100-day SMA -- and eventually closed the day with modest gains. With this, the index formed a candlestick pattern similar to a 'Shooting Star'. Seen as the near-term hurdle, 8,440-8,460 range on the index needs to be taken out before expecting any sustained up move, experts said. On the lower side, players should continue to keep an optimistic stance as long as the intraday support of 8,370 remains intact on the index.

NIFTY 3-Month

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