IntradayTrade dot Net dot IN
Market Report

Monday, 03-July-2017


  • The S&P BSE Sensex jumped 300.01 points, or +0.97 per cent, today to settle at 31,221.62, with FMCG major ITC being the top index gainer, and NTPC the worst laggard. The 30-share pack opened with a 235-point gap up at 31,156 against the previous close of 30,921, and witnessed a 151-point swing in intraday trade. NSE's Nifty50 zoomed 94.10 points, or +0.99 per cent, to close above the crucial level of 9,600, at 9,615.00 today, with 36 constituents ending in the green and 14 in the red.

  • Data showed every two out of three BSE stocks that traded for the day ended higher, as investors welcomed the GST on an optimistic note, even though some analysts said the tax overhaul is going to hurt India Inc's earnings in the short term. Extending gains for the third straight session, the benchmark indices rose nearly +1% as consumer goods makers such as ITC surged on hopes the newly implemented Goods and Services Tax would reduce retail prices and boost sales.

  • The Nifty50 index opened in the positive today and witnessed sustained buying interest till the end of session. It has formed a bullish candle, after the hammer candle formed on last Friday. Traders greeted GST with optimism, shrugging off concerns over short-term disruption in corporate earnings. With a strong 100-point surge, the Nifty50 closed above multiple short-term averages, including the five-day, 13-day and 20-day EMAs. Analysts said this might be early sign of a bigger rally in the making after a 17-session phase of consolidation. If the index gets past the 9,700 level in next four sessions, a bigger rally can be expected, initially towards the 9,900 level, say experts.

NIFTY 3-Month

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