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Market Report

Tuesday, 24-Oct-2017

NSE

  • Equity benchmarks Nifty and Sensex closed today's session in the positive zone, extending the gains for the second consecutive session. The 30-share Sensex closed 100.62 points, or +0.31 per cent, up at 32,607.34 today, while the 50-share Nifty index closed 22.85 points, or +0.22 per cent, up at 10,207.70 with as many as 29 stocks in the Nifty index closing in the green.

  • Benchmark indices ended higher ahead of October F&O expiry and Infosys results. Better-than-expected financial numbers of some heavyweights, amid a rally in banking counters after reports that the government is set to announce Rs 35,000-crore fund infusion into ailing PSUs with immediate effect, lifted benchmark equity indices for a second straight session today. Infosys, the country's second-largest software services firm, is scheduled to report its September quarter numbers today post market hours.

  • The Nifty50 consolidated in a narrow range to end a tad above the 10,200 mark today, forming a candlestick pattern similar to the Doji Cross on the daily chart. The index has been finding strong resistance around the 10,240-50 range and analysts believe it needs to take out this range for the Nifty50 to see any sustainable move towards the 10,290-10,320 range in the short term. The bullish gap area between 10,120 and 10,105 formed on October 13 is likely to act as support zone for the Nifty50 in any minor corrective action in the near term.

NIFTY 3-Month

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