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Market Report

Thursday, 29-June-2017

NSE

  • The 30-share Sensex pack closed the session at 30,857.52 today, up 23.20 points, or +0.08 per cent, with Axis Bank being the top gainer and Kotak Mahindra Bank the worst laggard. NSE's Nifty reclaimed the crucial level of 9,500 today and ended 12.85 points, or +0.14 per cent, higher at 9,504.10, with 25 constituents ending in the green and 26 in the red.

  • The benchmark indices pared most of intraday gains to close flat with the S&P BSE Sensex unable to hold its crucial 31,000-mark after witnessing a good 303-point swing, while the Nifty50 settled the June F&O series just a tad above 9,500 to close marginally higher, the first in seven sessions, as investors squared off positions after seeing decent initial gains on firm Asian stocks.

  • Resistance at the day's high point of 9,575 pulled down the Nifty50 today, as the index managed to close slightly higher for the first time in seven sessions amid strong volatility as the June series futures and options contracts expired. The index formed a candlestick pattern called 'Inverted Hammer' on the daily chart, suggesting scepticism among investors over market strength, as it failed to hold the gains and corrected sharply towards the 9,500 mark. If it sustains below the recent swing low of 9,480, fresh selling could drag the index towards 9,450 and 9,420 levels. On the upside, the index has a strong hurdle in the 9,560-9,580 zone.

NIFTY 3-Month

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