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Market Report

Wednesday, 25-Jan-2017

NSE

  • The 30-share BSE Sensex closed 332.56 points, or +1.21 per cent, higher at 27,708.14 today, while the Nifty50 index reclaimed the 8,600 mark for the first time since November 1 and closed at 8,602.75 today, up 126.95 points, or +1.50 per cent, higher than the previous close. The 50-share index opened at 8,499.45 and touched a high and low of 8,612.60 and 8,493.95, in trade today.

  • Equity benchmarks BSE Sensex and NSE Nifty surged over one per cent in today's trade on buying in frontline blue chip stocks amid firm global cues as the January series F&O contracts expired. Domestic equity benchmarks hit two-and-a-half-month highs during the day. Analysts who were bearish till a few days back are now seeing the market at new record highs this year. The market has seemingly recovered from the demonetisation gloom with Nifty50 ending above its crucial 8,600-mark for the first time since November 01.

  • Bulls dominated on Dalal Street today as the Nifty50 index, which saw a gap up opening, witnessed a strong rally throughout the day on F&O expiry. The benchmark index today formed a 'Long Bullish Candle' or 'Long White Day' kind of pattern on daily candlestick chart. Experts feel the Nifty50 will undergo some profit booking around 8,614 levels owing to huge gains witnessed in last three trading sessions besides being heading closure to budget event. Hence, short term traders can consider booking profits around said resistance points where as fresh buying can be initiated only on dip close to 8,500 levels with a stop below 8,460 for a target placed around 8,750.

NIFTY 3-Month

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