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Market Report

Wednesday, 19-Apr-2017


  • Supported by the Met projection of a normal monsoon, the benchmark jumped back late today as investors preferred to buy select bluechip stocks. The 30-share Sensex closed 17.47 points, or +0.06 per cent, higher at 29,336.57 today. However, NSE Nifty index closed almost flat with a negative bias at 9,103.50, down 1.65 points, or -0.02 per cent.

  • Benchmark indices settled the day flat, swinging between gains and losses throughout the day, as investors remain cautious on muted corporate earnings. Globally, geopolitical tensions rising between US and North Korea and US President Donald Trump's call for reviewing H1-B visa programme kept the Street wary and uncertain.

  • The bulls fought hard today while growling bears showed signs of loosening their grip on the Nifty50, but the NSE benchmark failed to close in the positive terrain for the fifth session in a row. In the process, the index formed a Hammer-like pattern on the daily chart, suggesting that the bulls were committed to ensure that a bottom is made. It was evident that traders were respecting the 9,060 level as a key support for the Nifty50. Analysts said if the index manages to recover without triggering the 9,019 level, it could see a breakout after consolidating for a few sessions.

NIFTY 3-Month

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