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Market Report

Thursday, 19-Jan-2017

NSE

  • The 30-share Sensex settled up 50.96 points, or +0.19 per cent, higher at 27,308.60 today. The gauge had climbed 22 points yesterday. The 50-share Nifty too rose 18.10 points, or +0.22 per cent, to close at 8,435.10 today after moving between 8,445.15 and 8,404.05. Over the past five sessions, the BSE Sensex has not moved even 50 points on either side, in the absense of macro cues.

  • The benchmark indices today settled higher thanks to gains in index heavyweight stocks such as ITC, Tata Motors and Infosys even as Asian markets ended lower after Fed Chair Janet Yellen signalled at future rate hikes in US. Bringing up the second day of gains, equities showed signs of consolidation despite a favourable start to the earnings season, as investors tried to strike a fine balance between new policies of US President-elect Donald Trump and the domestic budget, which is a few days away.

  • The Nifty50 rose for the second straight session today but could not get past the crucial resistance range between 8,440 and 8,480 levels, forming a candlestick pattern similar to 'Small Bullish' candle on the daily charts. The 50-pack index turned choppy after opening on a firm note. But the sentiment soon turned positive as the index remained in the positive terrain till the end. Momentum traders should continue with optimistic stance as long as the support range between 8,397 and 8,370 levels remains unbroken.

NIFTY 3-Month

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