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Market Report

Tuesday, 18-Apr-2017


  • The 30-share Sensex pack shed -0.32 per cent, or 94.56 points, to close at 29,319.10 today, while the 50-share NSE Nifty50 closed -0.37 per cent, or 34.15 points, down at 9,105.15 today, as lower opening in European stocks pulled the benchmarks off their day's highs.

  • The domestic equity market closed in the red for a fourth straight session today after benchmark indices gave up all of the morning gains due to profit booking at higher levels and disappointing monsoon forecast by the IMD. The sentiment also turned weak ahead of TCS Q4 earnings, scheduled to be released after market hours, and selling by the FIIs.

  • Traders booked profit in banking stocks after Nifty PSU Bank index hit its 52-week high on expectations of robust March quarter earnings. The Bank Nifty opened in the positive and registered a record life-time high of 21,947, but lost all the gains in the second half of the session and closed with marginal losses.

  • The Nifty50 index opened in the positive but failed to surpass the immediate hurdle at 9,218 and corrected sharply towards the 9,100 level. It negated the effect of previous day's Doji candle and formed a strong Bearish Candle on the daily chart by closing below its 13-day EMA. The index continued its losing streak for the fourth consecutive session and now if it holds below the 9,165 level, it may drag the index towards the 9,020-9,000 zone. On the upside, hurdles are seen at 9,191 and 9,218 levels, say experts.

NIFTY 3-Month

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