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Market Report

Tuesday, 11-Apr-2017


  • The benchmark equity indices snapped their three-day losing streak today amid select buying in IT, FMCG and banking stocks. The 30-share BSE Sensex closed 212.61 points, or +0.72 per cent, higher at 29,788.35 today, while the Nifty50 settled 55.55 points, or +0.61 per cent, up at 9,237.00 today. Among the 51 components in the Nifty index, 31 closed in the green. The Nifty Bank index hit a fresh all-time high during the session.

  • Snapping three-session long losing spree, the benchmark indices settled higher today as recent decliners such as IT stocks recovered, but overall sentiment was cautious ahead of the start of the earnings season and as globally geopolitical tensions grew in Middle East and the Korean Peninsula.

  • The Nifty50 rallied today after seeing strong support at its 13-day EMA to eventually settle around its day's high. The index formed a 'Bullish Engulfing' pattern on the daily chart, suggesting that it was a day that belonged to the bulls. The index has negated the formation of lower highs of last three sessions and it now requires to hold above the 9,250 level to witness a fresh bounce towards 9,280 and then 9,350 level, while on the downside, supports were seen 9,191 and 9,170, say experts.

NIFTY 3-Month

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