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Market Report

Thursday, 17-Aug-2017


  • Extending the rally for a third straight session, benchmark NSE Nifty index settled the volatile trading session 6.85 points, or +0.07 per cent, higher at 9,904.15 today. The BSE Sensex settled 24.57 points, or +0.08 per cent, up at 31,795.46 today. With a rise of nearly +5 per cent, IT major Infosys topped the list of gainers in the Nifty50 pack.

  • After starting on a positive note, domestic equity indices succumbed to volatile trade today, restricting the headline indices to close the session flat. Although investor sentiment turned bullish on the back of easing tensions between the US and North Korea and positive global cues, heavy selling on select bluechip counters such as pharma, auto and banking stocks capped gains. The broader Nifty50 index of the NSE closed above the crucial psychological level of 9,900, with 19 constituents in the green and 32 in the red.

  • The Nifty50 opened in the positive but failed to hold its gains and saw seesaw trading today, as the index could not cross the crucial resistance at 9,940 level but managed to settle above the 9,900 mark. It closed in the positive for the third consecutive session. The index formed a Spinning Top Pattern on the daily chart, which indicated that the bears were not in a mood to give up so easily. The 9,930-9,950 range now poses the upside hurdle, while a close below 9,880 may trigger profit booking, analysts said.

NIFTY 3-Month

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