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Market Report

Wednesday, 15-Feb-2017

NSE

  • The 30-share BSE Sensex closed 183.75 points, or -0.65 per cent, down at 28,155.56 today, while the 50-share NSE Nifty index shed 67.60 points, or -0.77 per cent, to end at 8,724.70 today. This was the lowest level for both the indices since February 1. Among the Nifty 500 index, 405 stocks closed the day in red.

  • Benchmark equities slumped to two-week low on Wednesday after US Fed chair Janet Yellen hinted at rate hike in March's policy meet. Also, lower-than-expected third quarter earnings continued to dampen market sentiment today. Overall, brisk selling on the real estate, auto, healthcare and consumer durables counters dragged the market.

  • The Nifty50 failed to hold above its crucial psychological level of 8,800 today and formed a long bearish candle on the daily candlestick chart. The index closed below its opening level for the seventh consecutive day in a row, which suggests that the bulls are losing momentum and the bears are slowly making their way to get an upper hand on Dalal Street. However, it still can't be treated as a breakdown, because the Nifty50 respected its crucial support level of 8,720. A break below 8,720 this week can put further pressure on the bulls, which could take the index towards 8,650-8,620 levels, experts said.

NIFTY 3-Month

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