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Market Report

Friday, 14-July-2017


  • The BSE Sensex closed at 32,020.75 today, 16.63 points, or -0.05 per cent, lower with NTPC being the top gainer and TCS the worst laggard. The 30-share pack, which opened at 32,099.93 against the previous close of 32,037.38, witnessed a 212-point swing during the day. On similar lines, NSE Nifty50 closed 5.35 points, or -0.05 per cent, lower at 9,886.35 today with 24 components in the green and 27 in the red.

  • Taking a breather from a record-breaking spree of four straight sessions, the domestic equity market today ended in the negative territory amid heavy selling in IT and auto stocks after muted Q1 earnings numbers by local software giants Infosys and TCS failed to enthuse investors. Our markets starting the day on a high, with th Nifty conquering the 9,900-mark for the first ever, and Sensex and Nifty50 hitting fresh record highs of 32,109 and 9,913 respectively at the start of the day. There was some recovery later in the day.

  • The Nifty50 today hit 9,900 level for the first ever. The index opened in the green at new record high of 9,913 today, but failed to drive its upmove and witnessed a decline of around 60 points from its opening levels. It filled the partial gap of 9,824-9,853 made on Thursday and recovered most of its losses to close near to the 9,900 zone. In the process, the index formed a pattern similar to 'Hanging Man' on the daily charts, suggesting exhaustion of the ongoing momentum. The intraday recovery from the day's low shall not be read as a positive sign, say experts. They expect the market to continue its correction for a couple of more trading sessions. Now the Nifty has to continue holding 9,850 zone to witness an up move towards 9,950-10,000 zone, while on the downside supports are seen at 9,820, then at 9,750.

NIFTY 3-Month

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