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Market Report

Thursday, 07-Sept-2017

NSE

  • Domestic market ended flat today in a rangebound session. BSE Sensex closed at 31,662.74 today, up 0.77 points or 0.00 per cent while the 50-share Nifty ended at 9,929.90 today, up 13.70 points or +0.14 per cent, with 29 constituents ending in the green and 22 in the red. Despite opening in positive territory, markets traded on a decidedly volatile note today.

  • The markets ended flat amid mixed global cues tracking Asian markets after US President Donald Trump and congressional leaders agreed to raise the government debt limit until December, eliminating the risk of a government shutdown for now. Trump forged a surprising deal with Democrats in Congress, embracing his political adversaries and blindsiding fellow Republicans in a rare bipartisan accord.

  • The Nifty50 continued its lackadaisical price behaviour today as it moved in an extremely narrow range before signing off the day with a Spinning Top-like indecisive formation. The index opened in the positive and headed towards the 9,965 mark, but failed to hold its gains and corrected towards the 9,920 level. It has got stuck in the broader trading range between 9,850 and 9,980 levels for the last seven sessions. The index may continue to see lacklustre trade and the consolidation phase may extend going ahead, unless it sees a breakout of the 9,950-9,980 range decisively, experts said. On the downside, supports are seen at 9,880 and then 9,850 levels.

NIFTY 3-Month

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