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Market Report

Tuesday, 10-Oct-2017


  • The domestic benchmark indices ended higher today, taking their winning streak to a third straight session after a day of observing rangebound volatility. The BSE Sensex ended the day at 31,924.41, up 77.52 points or +0.24 per cent while the Nifty50 ended firmly above the 10,000 mark at 10,016.95, up 20.20 points or +0.28 per cent, with 29 constituents ending in the green and 19 in the red. India Vix dipped 2.3 per cent while advance decline ratio stood at 3:2.

  • The benchmark indices settled higher today, with Infosys gaining after its shareholders approved a buyback plan while Lupin rose after winning US approval for its hypertension drug. However, broader gains were limited as investors hedged their bets before corporate results kick in this week. Software bellwether Tata Consultancy Services reports on Thursday and index heavyweight Reliance Industries on Friday. The July-September earnings will be viewed as a gauge to determine whether the current high valuations hold ground after a record-setting rally this year.

  • The Nifty50 today traded in a narrow range and made 'Doji' pattern for a second successive session, as investors turned indecisive at higher levels. The index though continued making higher highs higher lows formation for a seventh session and settled above the 10,000 mark for the first time since September 21. It has closed above its 61.80 per cent retracement of the entire down leg from 10,178 to 9,687 and thus making the way to head towards new high territory. Now it has to continue the formation of higher lows to extend the move towards 10,080 then 10,150 zones, while on the downside support is seen at 9,980 and then 9,950 level.

NIFTY 3-Month

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