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Market Report

Thursday, 13-July-2017

NSE

  • The 30-share BSE Sensex closed 232.56 points, or +0.73 per cent, up at 32,037.38 today, while NSE Nifty index settled 75.60 points, or +0.77 per cent, up at 9,891.70 today amid positive global cues and heavy buying in FMCG, bank and pharma stocks. The Nifty50 inched towards the 9,900 level with 37 constituents in the green and 13 in the red.

  • With the June CPI at 1.54%, its slowest pace in more than five years, heightened hopes of an interest rate cut by RBI at its upcoming monetary policy in August took benchmark index BSE Sensex above 32,000 for the first time ever today. Nifty50 also hit fresh record intraday lifetime high of 9,897.25 on the day. Investors, however, remain cautious ahead of June earnings result for TCS, kicking off the earnings season.

  • The Nifty50 continued its bounce and formed higher lows for the ninth consecutive session today. It opened the session with a gap up and formed a bullish candle on the daily chart. At no point did it fall below the 9,850 level. With this, the index has rallied almost 400 points over the past 10 sessions. Now, it has to hold above 9,850 to witness further rally towards 9,950-10,000 levels while on the downside supports are seen at 9,820 and then 9,750 mark. The Nifty50 is just a few points away from the five-digit 10,000 mark, while Sensex has already topped the 32,000 mark.

NIFTY 3-Month

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