IntradayTrade dot Net dot IN
Market Report

Wednesday, 01-Nov-2017

NSE

  • Better-than-expected quarterly numbers from select heavyweights coupled with positive macroeconomic data, supported market sentiment today. As a result, the NSE Nifty index closed 105.20 points, or +1.02 per cent, up to close at 10440.50 today, while the BSE Sensex settled 387.14 points, or +1.17 per cent, higher at 33,600.27 today. As many as 29 stocks in Nifty index closed in the green. The NSE Nifty and BSE Sensex surpassing 10,400 and 33,600 for the first time ever.

  • The benchmark indices ended the day at record highs today after the index heavyweight Bharti Airtel hit its highest in nearly a decade post its September quarter numbers. In intraday trade, the Sensex soared over the 33,600-mark and clocked its all-time high figure of 33651.52, while the Nifty rallied to 10,451.65 during the day's trade, also its all-time high mark. Market mood remained buoyant on the back of India's jump on Ease of Doing Business list. India went up by 30 notches to 100 on the World Bank ranking, which was released on Tuesday.

  • The Nifty50 index opened with a gap up and made a new lifetime high today. It witnessed sustained buying interest till the end of the session and formed a bullish candle by closing with the decent gains of more than 100 points. It has broken out from its trading range of 10,300-10,400. Now, it has to continue to hold above 10,380 to extend its move towards 10,500 and then 10,550 levels, while on the downside supports are seen at 10,350 and then 10,300 levels. The index has been making higher tops and higher bottoms on the weekly chart. As long as it doesn't negate this formation, the index is likely to see a fresh bounce.

NIFTY 3-Month

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