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Market Report

Friday, 03-Feb-2017

NSE

  • After a rally of over 550 points in last two sessions, the benchmark BSE Sensex ended a volatile trading session on a flat note today. The index settled 13.91 points, or +0.05 per cent, higher at 28,240.52 today. The Nifty50 closed at 8,740.95 today, up 6.70 points, or +0.08 per cent, from its previous close.

  • Domestic equity benchmarks BSE Sensex and NSE Nifty ended flat in a lacklustre trading session today, as investors turned cautious and preferred to stay on the sidelines ahead of the RBI's money policy review next week. But the indices ended the second straight week with gains after the Union Budget, aimed at accelerating economic growth, boosted sentiment.

  • BSE, the first-ever listing of a stock exchange in India, made a spectacular debut today, with the scrip registering 33 per cent listing gains amid high turnover. The stock settled the day at Rs 1,070.55, up 33 per cent from the issue price of Rs 806 apiece.

  • The Nifty50 inched up for the third consecutive day today. However, the quantum of gains narrowed each day, a situation generally observed when the index is close to its top. The index formed a 'Hanging Man'-like pattern on the daily chart, suggesting a possible pause in the momentum in the near future. The momentum has slightly weakened on the MACD indicator also, while the relative strength index or RSI is near the overbought territory. The index needs to break above the 8,757 mark to confirm a rising pattern. A fall below the 8,700 level, on the other hand, may send the index tumbling, say experts.

NIFTY 3-Month

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