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Market Report

Wednesday, 20-Sept-2017


  • Equity benchmarks BSE Sensex and NSE Nifty traded in a tight range all through and closed flat today. The 30-share Sensex closed 1.86 points, or -0.01 per cent, down at 32,400.51 today, while the 50-share Nifty settled 6.40 points, or -0.06 per cent, down at 10,141.15 today. As many as 31 stocks in Nifty closed in red. Fear gauge India VIX, which suggests volatility in the market over next 30 days, rose 1.46 per cent to 11.63.

  • The benchmark indices settled the day flat today as investors remained on the sidelines ahead of the outcome of US Federal Reserve's policy meeting, which will conclude later in the day. At home, telecom stocks hogged limelight after the Telecom Regulatory Authority of India (TRAI) cut termination charge for all mobile to mobile calls to 6 paise per minute from 14 paise effective October 1. Bharti Airtel ended flat, while Idea Cellular dipped over 3% at close. Reliance Industries, meanwhile, hit a record high as a cut in mobile interconnect fee is seen benefiting the company's telecom unit Reliance Jio.

  • The Nifty50 index traded in an extremely thin range today to end flat ahead of the Fed policy outcome later in the day. In the process, the index formed a Harami candle on the daily chart. It has been consolidating for the past few days and the range is getting thinner. Analysts said the index needs break out of the 10,130-10,180 range, before one can confirm the underlying trend. The Fed policy outcome later in the day may help it breach this range on either side, they said. The index faces support at the 10,080 level.

NIFTY 3-Month

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