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Market Report

Thursday, 30-Mar-2017

NSE

  • Extending its winning run for a third straight session, the Nifty50 index gained 29.95 points, or +0.33 per cent to end at 9,173.75 today, its fresh all-time closing high. Market sentiment turned buoyant after Lok Sabha approved four legislations to give shape to the historic GST amid short-covering in view of March series expiry. The BSE Sensex also settled 115.99 points, or +0.39 per cent, up at 29,647.42 today.

  • Real estate stocks remained top gainers today on news that the govt is pushing the states and UTs to consider rationalisation or waiver of stamp duty for affordable housing projects. These stocks jumped up to 9 per cent and were the top sectoral performers, as our market progressed led by sustained foreign fund inflows and supportive domestic cues.

  • The Nifty50 today settled at a record closing high of 9,173 on the day of March futures and options series expiry, and in doing so, it made a green real body for the third session in a row. The 14-RSI is in overbought territory, but the index is supporting its trend line and the positive bias is likely to sustain in the short term. Experts noted that the index made higher highs-higher lows for the past three trading sessions and was just half a per cent away from its life-time high of 9,218. The 9,200 level will now pose immediate resistance, while the 9,133-9,218 range would offer strong support to the index.

NIFTY 3-Month

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