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Market Report

Tuesday, 20-June-2017


  • The S&P BSE Sensex closed 14.04 points, or -0.04 per cent, lower at 31,297.53 today after rising as much as 81 points midway through the session, but pared the gains and slipped into negative territory. NSE's Nifty50 closed at 9,653.50 today, down 4.05 points, or -0.04 per cent, with 26 constituents ending in the green and 25 in the red.

  • Benchmark indices settled the day flat with Nifty50 trading near 9,650 amid lack of any strong global and domestic cues. Shares of IT companies rose following overnight rebound in US technology stocks, while banks fell after the Punjab state government waived farm loans. Gains were erased in the second half of trade as investors stayed on the sidelines after Finance Minister Arun Jaitley in a press conference today confirmed GST will be officially rolled out on the midnight of June 30.

  • Today appeared to be a day of consolidation for the benchmark equity indices, as the Nifty50 moved in an extremely narrow range of 33 points, failing to cross immediate hurdle at 9,680. The key takeaway from the session was that the 50-stock pack managed to hold on to the gains witnessed in the previous session. The Nifty index formed a small-bodied candle and witnessed consolidation for the most part of the session before finally closing on a flattish note near the 9,650 mark. Now, it has to hold above the 9,620 level to witness an upward move towards its lifetime high of 9,709 and 9,750 levels, while on the downside, supports are seen at 9,580 and 9,550 levels.

NIFTY 3-Month

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