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Market Report

Tuesday, 05-Sept-2017

NSE

  • Dalal Street investors were a relieved lot on Tuesday after domestic market recovered Monday's losses. BSE Sensex added 107.30 points or +0.34 per cent to end at 31,809.55 today while the 50-share Nifty reclaimed the 9,950 mark, closing the day 39.35 points or +0.40 higher at 9,952.20 today, with 31 constituents ending in the green and 20 in the red.

  • Benchmark indices ended higher even as the Street remained cautious amid lingering concerns about the escalating North Korea crisis. However, North Korean tension appeared a bit contained as stocks across the globe showed signs of recovery. Sentiment was also hampered locally, after activity in India's dominant services sector contracted for a second straight month in August on disruptions caused by GST hurt new orders.

  • The Nifty50 managed to hold above the 9,900 level and reclaimed the 9,950 mark today and in the process made a 'Harami' candle on the daily chart. The index traded inside the trading range of the last session. In a two-candlestick bullish Harami, the pattern often indicates that the bearish trend may be reversing. It stabilised after a sharp drop on Monday, but the index needs to hold above 9,928 to head towards multiple hurdles at 9,980 and 10,020 levels. On the downside, the index has support at 9,880 and then 9,850 levels.

NIFTY 3-Month

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