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Market Report

Thursday, 14-Dec-2017

NSE

  • The BSE Sensex added 193.66 points to close at 33,246.70 today, up +0.59 per cent, and the Nifty50 closed the day at 10,252.10 today, up 59.15 points or +0.58 per cent, with 40 constituents ending in green and only 8 closing in the red (2 unchanged). The session was marked by high volatility, as BSE benchmark Sensex gyrated in a wide 435-point range.

  • After staging a remarkable recovery from the day's low, the benchmark indices snapped a two-session losing run, with the Nifty again rising above the 10,250 mark today. The benchmark indices ended higher as investors waited for early forecasts on the winner of a key state election, with sentiment also muted as inflation ticked higher and industrial output weakened. The Nifty volatility index, a barometer of investor fear, hit its highest level today since Feb 1. Overseas, The US Federal Reserve raised interest rates for a third time this year on Wednesday, but left its rate outlook unchanged.

  • The Nifty witnessed another high swing day, as it fell down towards 10,141, but managed to recover from the lows and headed towards 10,276. It continued with its lower high lower low formation for the third consecutive session, but formed a Bullish Hammer candle on daily chart. With the Nifty ending above the 50-DMA, the support zone of 10,180-10,200 will continue to provide strong supports, while on the upside, the NSE benchmark has to hold above 10,300-10,330 zones to witness an upmove towards fresh lifetime high above 10,490. Going in to trade tomorrow, some follow-through of short covering, which led to today's recovery, might continue.

  • After market hours: With all exit polls predicting a 108+ seat count for the BJP in Gujarat assembly elections, markets are expected to zoom upwards tomorrow. The ruling BJP is expected to win comfortably in both Gujarat and Himachal Pradesh assembly elections when results are declared on Monday, Dec 18.

NIFTY 3-Month

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