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Market Report

Monday, 21-Aug-2017

NSE

  • The S&P BSE Sensex lost 265.83 points, or -0.84 per cent, today to close the session at 31,258.85 today. The 30-share pack, which opened at 31,609 against the previous close of 31,524, witnessed a 421-point intraday swing during the session. The broader Nifty50 index of NSE shed 83.05 points, or -0.84 per cent, to slip below the crucial 9,800 level and close at 9,754.35 today with nine components ending in the green and 41 in the red.

  • The markets ended lower for the second straight session after index heavyweight Infosys shed as much as -5.4% following Friday's about -10% plunge after Vishal Sikka resigned as the chief executive and managing director on the back of a fall-out with the company's founders. Pharma, realty, auto and metal indices also added to the fall. Asian shares were also fragile as investors remained unconvinced about US President Donald Trump's ability to fulfill his economic agenda, even as the departure of his controversial policy strategist raised hopes of some progress.

  • The Nifty50 fell for second straight session today and tested several short-term moving averages, before barely avoiding a close below the 9,750 level. The index formed a Bearish Candle on the daily chart. Experts believe, were the index to hold above the 9,685 level, chances of it staying in a broader range of 9,700-10,000 level would rise. A break below this level may send the index tumbling towards the 9,500 level, they warned. The index now rules below its 50-day EMA of 9,790 and faces its 89-day EMA at around 9,607 level. Upside resistances have shifted lower to 9,820 and 9,850 levels.

NIFTY 3-Month

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