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Market Report

Friday, 16-June-2017

NSE

  • The S&P BSE Sensex closed the session 19.33 points, or -0.06 per cent, down at 31,056.40 today. The broader Nifty50 of the NSE closed 10.00 points, or +0.10 per cent, higher at 9,588.05 today. The index opened at 9,595.45 and touched a high and low of 9,615.85 and 9,565.50, respectively.

  • Benchmark indices swung between gains and losses today to end the day flat amid lack of global as well as domestic cues. Nifty50 settled the week -0.8% lower, its first weekly loss in six weeks, breaking its longest gaining streak since late 2014 while Sensex ended the week -0.6% lower. Gains were capped by a sharp correction in pharma and IT stocks on worries over their earnings outlook.

  • The domestic equity market witnessed a decent start, but had a flat closing in today's session. So flat that one index closed in the red while the other closed in the green. The Nifty50 pack traded in a range through the day, which was smaller than that of Thursday's session. In the process, it formed an 'inside candle' on the daily chart. It failed to surpass the immediate hurdle at 9,620 and corrected towards the previous day's low of 9,560. Now, it has to cross and hold above 9,620 in order to witness a bounce back towards the next hurdle at 9,650 and 9,680 levels, while holding below 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)