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Market Report

Tuesday, 22-Aug-2017

NSE

  • The S&P BSE Sensex gained 33.00 points, or +0.11 per cent, during the day to close at 31,291.85 today. The Nifty50 index of the NSE closed at 9,765.55 today, up 11.20 points, or +0.11 per cent, with 29 components ending in the green and 22 in the red. It once again failed to breach the crucial 9,800 mark.

  • The benchmark indices ended marginally higher in a volatile trading session today as investors kept to the sidelines in the absence of clear triggers ahead of the Jackson Hole gathering of central bankers later this week. Among individual stocks, Infosys extended losses to a third session, falling as much as -1.53% after Vishal Sikka resigned as chief executive officer on Friday. The stock has lost -14.4% since Sikka's resignation by Monday's close.

  • The Nifty50 erased morning gains to settle marginally higher today but failed to hold above the 9,800 level and corrected towards the 9,750 mark. In the process, the index formed an 'Inside Bar' on the daily chart. The index closed below its 50-day EMA for last two consecutive sessions, which has a negative implication if followup selling continues. Analysts believe the index may face strong resistance in the 9,800-9,820 range, while a breach of the 9,700 level may trigger a selling spree. Supports are seen at strike prices 9,700 and 9,680.

NIFTY 3-Month

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