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Market Report

Wednesday, 07-June-2017


  • The BSE Sensex closed 80.72 points, or +0.26 per cent, higher at 31,271.28 today, while NSE's Nifty50 index settled 26.75 points, or +0.28 per cent, up at 9,663.90 today. Rate-sensitive auto, banking and real estate stocks settled the day in the green.

  • The benchmark indices ended marginally higher after the RBI kept the repurchase (repo) rate unchanged at 6.25%, while lowering projections for inflation and striking a less hawkish tone in its second bi-monthly monetary policy for financial year 2017-18. Market sentiment was positive in response to the IMD upgrading the South-West monsoon forecast to 98% of long term averages from 96% projected earlier. RBI's unchanged stance of key rates fell in-line with the market expectation and hence failed to trigger any directional move.

  • The Nifty50 index formed an Inside Bar and a Doji candle on the daily chart today as it traded inside the trading range of last session and finally closed near its opening level. It respected the previous day's low of 9,630 and now, it has to continue to hold above 9,650 to extend the up move towards 9,700 and 9,750 levels, while going below 9,635 could lead to a decline towards 9,580 and 9,550 levels due to profit booking. The index has been respecting the 9,630-9,635 zone since last four sessions, hence this level becomes critical to keep the short-term positive trend of the market intact, say experts.

NIFTY 3-Month

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