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Market Report

Tuesday, 27-June-2017


  • The 50-stock index closed 63.55 points, or -0.66 per cent, down at 9,511.40 today. The 30-share BSE Sensex settled 179.96 points, or -0.58 per cent, down at 30,958.25 today. The NSE Nifty50 fell below the 9,500-level during intraday trade, the first time in 22 sessions.

  • The Nifty50 slipped for the fifth straight session today as the domestic equity market took a hit following a report that the Reserve Bank of India has demanded higher provisioning for loans submitted under the insolvency process. The BSE benchmark Sensex slipped 180 points to close below 31k, while the NSE barometer Nifty50 ended a tad above the psychological mark of 9,500 amid data suggesting weak rollovers to June series futures and options contracts that expires on Thursday. Subdued cues from European markets further weighed on market sentiment.

  • The Nifty50 index today broke out of the consolidation band between 9,560 and 9,700 levels on the downside and corrected towards the 9,473 mark. It formed a Bearish Candle on the daily chart and broke the support trend line by connecting its swing lows at 9,075, 9,341 and 9,580 levels. Taking its losing streak to the fifth consecutive session, the Nifty50 lost 200 points from its all-time high of 9,709 level hit on June 6. Today's intraday low of 9,473 was lowest in 22 sessions. Experts do not rule out the possibility of further correction. If the index holds below the 9,560 mark, weakness could prevail towards 9,480 and 9,450 levels, while on the upside, the 9,580-9,600 range is likely to act as a strong barrier on the immediate basis.

NIFTY 3-Month

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