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Market Report

Wednesday, 05-July-2017

NSE

  • The BSE Sensex ended 35.77 points, or +0.11 per cent, higher at 31,245.56 today while the Nifty50 rose 24.30 points, or +0.25 per cent, to close at 9,637.60 today with 37 components ending in the green and 14 in the red. Earlier, Sensex had opened the day with a gap up at 31,272 against the previous close of 31,209 and witnessed a 106-point swing in intraday trade.

  • The domestic equity market ended flat for the second session in a row today after rangebound trading through the day, due to lack of any fresh triggers and selling on select counters, including IT. The market breadth remained positive. On BSE, 1,706 shares rose, while 968 shares fell. A total of 142 shares remained unchanged. There was positive trade in global markets after focus shifted from geopolitical tensions around North Korea to minutes from the US Federal Reserve's last policy meeting.

  • The Nifty50 today formed an 'inside bar' candle formation on the daily charts, as it traded inside the trading range of Tuesday's session. It managed to hold above the 9,600 level, but was unable to surpass the immediate hurdle at the 9,650 mark. It has finally seen the highest daily close in 10 sessions and a decisive move above the 9,650 mark could attract fresh buying interest towards a new high. Now, the index has to continue holding above the 9,600 level to extend its move towards its lifetime high of 9,709 and even higher. On the downside, the 9,580-9,560 zone is likely to act as a major support area.

NIFTY 3-Month

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