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Market Report

Friday, 12-May-2017

NSE

  • The Nifty50 index of the National Stock Exchange lost 21.50 points, or -0.23 per cent, to close at 9,400.90 today, with 32 constituents ending the day in the red. The S&P BSE Sensex shed 62.83 points, or -0.21 per cent, to close at 30,188.15 today snapping a four-day winning streak, as investors turned cautious ahead of inflation data and booked profits in recent outperformers.

  • Both Sensex and Nifty hit record highs in the previous two sessions, and were up more than +1 per cent for the week. This is a second consecutive week of gains for the indices.

  • Consumer price inflation (CPI) is expected to have eased to a three-month low of 3.49% in April from 3.81% the previous month, according to Reuters poll. The government will also unveil the new series of Index of Industrial Production (IIP) as well as Wholesale Price Index (WPI), with 2011-12 as the base year, later today.

  • The Nifty50 index opened in the positive zone today but failed to hold its opening gains and corrected towards the 9,372 level. However it witnessed a recovery of 30 points from the day's low and finally managed to close above the psychological mark of 9,400 level. The index made a 'Bearish' candle on the daily chart, but showed a keen recovery from its 5-day exponential moving average (EMA) of 9,372. The Nifty50 has to continue to hold above the 9,380 level to witness any fresh upward move towards 9,450 and 9,500 levels, while on the downside, a break below the support zone can drag the index towards the 9,320 mark.

NIFTY 3-Month

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