The Nifty50 closed 15.15 points, or +0.15 per cent, up at 10,298.75 today, while the 30-share Sensex ended today's session 17.10 points, or +0.05 per cent, up at 33,360.90. Among the 51 stocks in the Nifty50 index, 27 ended the day in the green, while 22 settled in the red. The Nifty50 held on to the 10,250 level throughout the session to eventually closed the day marginally in the positive.
Domestic equity market logged marginal gain today, despite Friday's euphoria, which was triggered by Moody's upgrade of India's sovereign credit rating. Today, Investors booked profit in PSU banks, IT, cement and pharma stocks amid subdued Asian cues. However, the equity benchmarks managed to end in the green zone, underpinned by mild bouts of buying in metal, FMCG and auto stocks. Investors have been hopeful that a new US tax bill under debate in Congress will boost corporate earnings and further fuel the stock market's record-setting run in the USA.
The Nifty50 formed a small bullish candle on the daily chart today, after remaining choppy for most of the session. While the advance-decline ratio remained in favour of the bulls, the index fell just short of closing above the 10,300 mark. Analysts see the index targeting the 10,350 level or beyond in the short run, as long as it holds on to the 10,250 level on a closing basis. Going ahead, the 10,344 -10,368 range remains an immediate hurdle; whereas any move below the 10,250 mark would drag the index towards sub-10,200 levels.