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Market Report

Thursday, 13-Apr-2017


  • The BSE Sensex slipped for the second straight session and closed 182.03 points, or -0.61 per cent, down at 29,461.45 today. The Nifty50 settled 52.65 points, or -0.57 per cent, down at 9,150.80 today. Indian Market will remain closed tomorrow on account of Good Friday.

  • The benchmark indices today settled the holiday-truncated week lower after index heavyweight Infosys' revenue guidance and plan to distribute cash to shareholders fell short of expectations, raising concerns at the start of the March quarter earnings. The geopolitical worries, after the United States launched cruise missiles against an air base in Syria last week and fears of a new weapons test by North Korea, also contributed to the losses. Investors also took cues from the index of industrial production (IIP) data, which contracted in February and consumer price index (CPI)-based inflation data, which edged up in March.

  • The Nifty50 slipped over 0.50 per cent in today's trade following weak Asian cues, tepid macroeconomic data and lower-than-expected financial results of IT bellwether Infosys. The Nifty50 formed a bearish pattern on the daily chart, which resembled a 'Bearish Belt Hold' pattern, whereas the weekly charts showed a small bear candle suggesting narrow movement throughout the week. Now, short-term weakness may persist in the market as long as it remains below the 9,191-9,218 zone.

NIFTY 3-Month

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