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Market Report

Wednesday, 30-Aug-2017


  • The S&P BSE Sensex rallied 258.07 points or +0.82 per cent to close the session at 31,646.46 today. The broader Nifty50 index of the National Stock Exchange jumped 88.35 points or +0.90 per cent to close the session at 9,884.40 today with 38 constituents ending in the green, 11 in the red and two unchanged.

  • Staging a smart recovery, the domestic equity market today partly recovered yesterday's losses, as the BSE Sensex rose by 258 points while the NSE Nifty50 index reclaimed the 9,880 level, ahead of derivatives expiry of August series due tomorrow. Indian stocks yesterday had logged their biggest percentage single-day fall of the year, bogged down by fresh geopolitical tension on the Korean Peninsula and bad loan concerns.

  • The Nifty50 index opened in the positive today and closed just shy of the 9,900 mark, breaching many short-term resistance levels and moving averages. It formed a bullish candle on the daily chart as the bulls took the index above its 50-day EMA near the 9,880 level. It has managed to regain yesterday's losses, but overall it has been consolidating in the broader range between 9,750 and 9,944 levels over the past couple of sessions. Now if it sustains above 9,880, then it may rally towards 9,950 and then 10,020 levels, while on the downside, supports are seen at 9,820 and then 9,775 levels.

NIFTY 3-Month

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