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Market Report

Monday, 17-Apr-2017


  • The 30-share BSE Sensex closed 47.79 points, or -0.16 per cent, down at 29,413.66 today, while the 50-share NSE Nifty continued its losing streak for the third consecutive session and settled 11.50 points, or -0.13 per cent, down at 9,139.30 today. Through the day, the 50-stock index struggled below the 9,150 level, but did not break any important support level.

  • After moving in a narrow range all through the day, equity benchmarks Sensex and Nifty ended the day lower on weak Asian cues as geopolitical tensions over the long weekend gave rise to risk aversion in global markets. At home, investors geared for key quarterly earnings, with IT major TCS scheduled to report its March quarter earnings tomorrow. Also, India's wholesale prices rising lower-than-expected at 5.70% year-on-year in March, compared with a 0.45% fall a year ago, dragged down by easing fuel prices, affected the sentiment.

  • The Nifty50 traded in a narrow 40-point range today and formed the 'Doji' pattern on the daily chart, suggesting indecisiveness among market participants. The formation of this pattern after the recent profit booking, indicates that follow up selling is missing and decline is being bought into. Now it has to cross and hold above 9,165 to witness an upmove towards 9,218 and 9,250. The downside supports are seen at 9,090 and 9,050 levels, say experts.

NIFTY 3-Month

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