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Market Report

Wednesday, 12-Apr-2017

NSE

  • The 30-share BSE Sensex closed 144.87 points, or -0.49 per cent, down at 29,643.48 today, while the 50-share NSE Nifty index settled 33.55 points, or -0.36 per cent, down at 9,203.45 today.

  • In a choppy trade, benchmark indices settled the day lower as investors stayed cautious ahead of the start of the March-quarter earnings season. Globally, the sentiment was also hit by the ongoing geopolitical concerns. After hitting a record high of 9,273.90 points last week, the broader NSE index has fallen about 0.9% as investors wait for corporate results, with Infosys due tomorrow. Street is also looking forward to a set of economic data like industrial production (IIP) for February and CPI inflation for March due later today.

  • Nifty50 formed a 'Bearish' candle today but the intraday fall was mostly bought into. While the index breached its five-day exponential moving average (EMA) and made a new swing low of 9,161.80, it respected its 13-day EMA to settle above the 9,200-mark. Follow up buying in the next immediate trading session shall confirm the reversal from 9,161 levels. In any case, the index now needs to sustain above 9,191, failing to which can open doors for a selling spree towards 9,133 and 9,090. Levels around 9,250 and 9,280 will be short term resistance levels, say experts.

NIFTY 3-Month

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