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Market Report

Friday, 17-Mar-2017


  • After surpassing the psychological level of 9,200 for the first time ever in early trade, the Nifty50 pared initial gains amid profit booking and closed 6.35 points, or +0.07 per cent, higher at 9,160.05 on Friday. Overall, the market breadth remained in favour of the bears with 36 shares of the Nifty50 index closing in the red. The BSE Sensex closed 63.14 points, or +0.21 per cent, up at 29,648.99 on Friday.

  • The Nifty index rose 64.70 points to record a new intraday high at 9,218.40, surpassing its previous all-time high of 9,158 hit yesterday, post US Federal Reserve maintained an accommodative stance. Benchmark indices settled the day marginally high with Nifty50 index hitting another fresh closing of 9,160.05 even as markets pared gains in the later half of the day on profit booking. Rupee also eased after hitting a 17-month high on Thursday and was trading at 65.55 from its close of 65.42.

  • The Nifty50 on Friday could only manage to end flat in a session that saw the NSE barometer conquering the 9,200 level for the first time ever. This suggested that Dalal Street traders chose to book profit at higher levels. The index made a bear candle on intraday basis and suggested continued indecisiveness among traders. Analysts warn near-term corrections are inevitable given that shares have turned more expensive. However, a sustained trade beyond the 8,950 level may extend the bull run to levels of 9,225-9,575 in the coming trading sessions. Alternately, a failure to hold support levels of 8,950 can trigger corrections dragging the Index lower to levels of 8,720-8,570, say experts.

  • Point to note: FPIs have re-started their buying spree with full force. They have made purchases of upwards of Rs 15,000 crore this month. See our 'Market Statistics' page.

NIFTY 3-Month

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