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Market Report

Tuesday, 03-Oct-2017

NSE

  • Opening after a gap of three days, the domestic equity market ended on a positive note today, extending its gaining streak for a third consecutive session. The BSE Sensex closed at 31,497.38 today, up 213.66 points or +0.68 percent. The Nifty50 ended the day 70.90 points or +0.72 per cent higher at 9,859.50 today, with 38 constituents ending in the green and 12 in the red.

  • Our markets extended gains for the third straight session today with the Nifty50 ending above 9,850 as automakers surged after posting strong monthly sales. Investors also keenly await the Reserve Bank of India's policy meeting on Wednesday, with the central bank expected to keep rates on hold despite a sharp slowdown in economic growth after inflation surged to a five-month high. Overseas, world shares hit their latest in a run of record highs today, with US markets posting yet another record closing.

  • The Nifty50 index opened in the positive but failed to surpass the 9,900 level and remained choppy in a 30-point range for most part of the day. It continued the bounceback move for three consecutive sessions after forming a short-term bottom near the 9,685 mark. Even after the recovery of last three sessions, the Nifty50 failed to surpass a big negative candle at 9,921 and 9,714 formed on September 27. Now, it has to continue to hold above the 9,820 level to extend the bounceback towards 9,900 and 9,928. On the downside, supports are seen at 9,777 and 9,720 levels. Any disappointment from RBI's money policy review may abort the pullback attempt by the index.

NIFTY 3-Month

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