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Market Report

Thursday, 25-May-2017

NSE

  • The BSE Sensex ended the day 448.39 points, or +1.48 per cent, higher at 30,750.03 today. Nifty50 gained 149.20 points, or +1.59 per cent, to settle at 9,509.75 today. For the Sensex, this is a life-time closing high. It also hit a life-time intraday high of 30793.43 today. The Nifty had last made life time highs of 9525.75 (closing) and 9532.60 (intraday) a few days ago on 17-May-2017.

  • The S&P BSE Sensex ended at record closing high today as traders seemed to have covered most of their short positions as the May series of derivative contracts expired today. World stocks hitting their record highs after the US Federal Reserve signalled a more cautious approach to future rate hikes, also contributed to the gains. Yesterday's good monsoon forecast has given good results today.

  • The Nifty50 soared nearly 150 points today to close above the crucial level of 9,500. In the process, the index formed a long bullish candle called 'Long White Day' on the daily candlestick charts. This signals that the market witnessed sustained buying interest from the bulls for most part of the day mostly led by short covering. The index has almost engulfed the price consolidation of last five sessions and negated the formation of lower highs of last three sessions. Now, it has to hold above the 9,450 level to witness any upmove towards 9,550 and 9,600 levels, while on the downside supports exist 9,420 and 9,380 levels.

NIFTY 3-Month

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