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Market Report

Tuesday, 19-Dec-2017

NSE

  • A day after the much anticipated victory for the ruling party BJP in Gujarat and Himachal Pradesh elections, benchmark indices ended on fresh record closing high levels, taking their winning streak to a fourth consecutive session. BSE Sensex added as many as 236.06 points or +0.70 per cent to close at 33,836.74 today, while the Nifty50 ended above 10,450, up 74.45 points or +0.72 per cent to close at 10,463.20 today.

  • Benchmark indices ended on closing high today as BJP's wins in key state elections continued to boost sentiment, raising hopes of continued reforms, with auto stocks leading the gains, while strength across Asian markets also lent support. Focus will now shifts to macros and earnings recovery now that the aseembly elections in Gujarat and Himachal Pradesh are out of the way.

  • The Nifty50 rallied for the fourth consecutive session today to settle at a record closing high. At no point during the session, did the index fall below the 10,400 mark. The 50-pack ended up forming a solid bull candle on the daily chart, and is just few points away from its lifetime high. The index is all set to head towards a higher territory, say experts. It needs to hold above the 10,380-10400 zone to extend its move towards the 10,550-10,600 region. Supports for the index are seen at 10,330 level.

NIFTY 3-Month

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