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Market Report

Wednesday, 22-Nov-2017


  • Equity benchmarks Nifty50 and Sensex ended up in the green today, extending the gains for the fifth straight session, thanks to a rally in PSBs, auto and FMCG stocks. The Nifty50 index closed 15.40 points, or +0.15 per cent, higher at 10,342.30 today, while the BSE Sensex ended today's session at 33,561.55, up 83.20 points, or +0.25 per cent. Among the 50 stocks in the Nifty50 index, 23 settled in the green, while 27 in the red.

  • Benchmark indices eased off early highs to marginally higher in lacklustre trade today. PSU banks jumped after the central cabinet approves amendment to the Insolvency and Bankruptcy Code to prevent wilful defaulters from bidding for stressed assets. The sentiment was also lifted as Asian shares gained to reach their highest in a decade as strong world growth and rising corporate profits lured hordes of investors into equities, while oil prices jumped closer to a recent 2-1/2 year high.

  • The Nifty50 index opened in the positive and remained rangebound for most part of the today's session. In the process, the index formed a Doji candle in the daily charts for the second session in a row. A strong hurdle around the 10,360 mark kept the upside limited, but the market did respect the support at 10,310. There is no sell signal on the lower timeframe charts. Now, if it manages to hold above 10,300, then it may head towards 10,400 and 10,450 levels, while on the downside, supports are seen at 10,250 and then 10,178 levels.

NIFTY 3-Month

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