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Market Report

Wednesday, 14-June-2017


  • The S&P BSE Sensex closed the session 52.42 points, or +0.17 per cent, higher at 31,155.91 today. The broader Nifty50 of the National Stock Exchange closed 11.25 points, or +0.12 per cent, higher at 9,618.15 today. As many 28 stocks in the Nifty index ended the day in the green, while 23 settled in the red.

  • Benchmark indices ended moderately higher after a choppy session as data released by the commerce ministry showed that India's May wholesale inflation slipped to 2.17% as compared to 3.85% in April and -0.90% in the similar period of the previous year. Greater upside was capped and indices hovered in a small range throughout the day as market participants chose to stay on the sidelines and awaited the outcome of the crucial rate-setting meeting of the US Federal Reserve, and clarity on the Fed's future path for US policy.

  • The Nifty50 index today staged a smart recovered from the day's low and settled near the 9,620 level, thus forming a 'Long Lower Shadow' with a 'Spinning Top' on the daily candlestick charts. This shows indecision for both the bulls and the bears. The market did take support at its short-term 20-DMA level, which stood at 9,570 level. Now, the Nifty50 has to cross and hold above the 9,650 level to witness an upward move towards 9,700 and then 9,750, while holding below the 9,580 level could drag the index towards 9,550 and 9,530 levels.

NIFTY 3-Month

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