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Market Report

Tuesday, 04-July-2017

NSE

  • A day after the indices gained +1 per cent, the BSE Sensex lost 11.83 points, or -0.04 per cent, to end the day at 31,209.79 today. Earlier, the 30-share pack opened at 31,331 against the previous close of 31,221. The Nifty50 closed the session 1.70 points, or -0.02 per cent, down at 9,613.30 today. Our market ended flat today amid profit booking but 65 stocks were at 52-week highs at the NSE.

  • Snapping a three-day winning streak, the domestic equity market ended flat today with a negative bias. After rallying in morning trade, the domestic equity indices lost momentum on fresh geopolitical tensions and profit booking in some of recent outperformers such as ITC. Emerging stocks fell and a negative trend was seen in Asian and European markets after North Korea fired a missile that landed in Japanese waters, deepening concerns over the isolated nation's nuclear capabilities. The development had a bearing on domestic stocks too, causing the indices to pare all the gains they had garnered in morning trade.

  • The Nifty50 index opened in the positive today but failed to surpass the 9,650 mark and witnessed a decline of 50 points from the opening level. The index formed a bearish candle as it closed on a flat to negative note, but it still made higher highs and higher lows from last two sessions. The Nifty50 today saw strong resistance at the upper end of the price band 9,610-9,650, but defended the psychological mark at 9,600 on a closing basis. Now, it has to hold above the 9,560-9,580 zone to witness an upward move towards the 9,650 and 9,700 levels, while on the downside, support exists at 9,520 and 9,480 levels. The momentum remains on the positive side, said experts.

NIFTY 3-Month

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