IntradayTrade dot Net dot IN
Market Report

Tuesday, 02-May-2017

NSE

  • The S&P BSE Sensex, which had reclaimed the 30,000 mark in opening trade, rallied as much as 150 points but by the end of the session the 30-pack index gave all the gains and closed just 2.78 points, or +0.01 per cent, higher at 29,921.18 today. The headline index hit an intraday high and low of 30,069 and 29,804, respectively. NSE's 50-share Nifty index ended above the 9,300 level at 9,313.80, up 9.75 points, or +0.10 per cent, with 24 constituents ending the day in the green.

  • The domestic stock market slumped today after giving up all the morning gains after investors curbed risk appetite as the domestic equity market ruled near record high, amid heavy selling on the pharma and utilities counters. In a choppy session, the Nifty settling above the 9,300 mark ahead of US Federal Reserve's policy decision due tomorrow. Fed is expected to hold interest rates steady at its meeting this week as it pauses to parse more economic data but may hint it is on track for an increase in June.

  • The Nifty50 gave up all the gains of the day to close flat today. In the process, the index formed a 'Hammer' pattern on the daily chart. During the day, the index failed to cross the 9,350 level and corrected towards the recent low of 9,270, before buying on declines took it back into the consolidation zone of the last three sessions. Now, if the Nifty50 slips and sustains below 9,280, then it may correct towards 9,230 and 9,191 levels, while on the upside multiple hurdles are seen at 9,350 and 9,380 to start the next leg of rally.

NIFTY 3-Month

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