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Market Report

Monday, 09-Oct-2017

NSE

  • The domestic equity market ended flat with a positive bias after a choppy session today ahead of June-September quarterly results. The BSE Sensex ended the day at 31,846.89, up 32.67 points or +0.10 per cent while the Nifty50 ended at 9,988.75, up 9.05 points or +0.09 per cent after testing the 10,000-mark in intraday trade. Tweaks in GST structure caused a few scrips to hit their upper circuits during the day.

  • In a choppy session, benchmark indices end flat today but continued a steady recovery from recent losses, with consumer sector leading the way, but gains were capped as corporate results kick off later this week. Sentiment turned cautious as earnings season for the July-September quarter kicks off this week with over 30 companies scheduled to report their Q2 numbers. These include, TCS, Reliance Industries, South India Bank, IndusInd Bank, Cyient, and Bajaj Corporation, among others.

  • The Nifty50 today failed to close above 10,000, and ended near its opening level, thus forming an indecisive 'Doji' pattern on the daily chart. Bears are now fighting to retain the 10k mark after the sharp bounce back of 328 points in last seven sessions from the support of 9,685. The index failed to give a decisive break out after Friday's rally, even as it continued to make higher highs-higher lows formation for a sixth consecutive session. The index would now find immediate hurdle at 10,015 level, while a close below 9,959 could trigger a profit booking short-term sell-off towards 9,880 then 9,850 levels.

NIFTY 3-Month

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