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Market Report

Thursday, 11-Jan-2018

NSE

  • The domestic equity market benchmarks Nifty50 and Sensex witnessed record closing highs today, backed by gains in heavyweights ahead of the announcement of key corporate results. The Nifty50 index closed 19.00 points, or 0.18 per cent, up at 10,651.20 today, while 30-share Sensex settled 70.42 points, or 0.20 per cent, up at 34,503.49 today. Out of total 50 stocks in the Nifty50 index, 24 closed the day in the green, while 26 closed in the red. As many as 144 stocks hit fresh 52-week highs on NSE, compared with 9 stocks that hit fresh 52-week lows today.

  • After taking a breather for a day, the bulls returned to lift the benchmark indices to new peaks today. The S&P BSE Sensex settled at a fresh lifetime high of 34,503 and the Nifty50 index closed above the 10,650 level for the first time as investors remained optimistic ahead of key corporate earnings later this week and the federal budget next month. The New Year rally in Asian shares ran out of steam today as concerns about the US administration's protectionist stance hit Wall Street while US bonds were dented by speculation China may curtail buying.

  • The Nifty50 hit a record high today and signed off the session above the 10,650 level for the first time ever. In the process, the index made a small bullish candle on the daily chart. This is a Hanging Man candle for the third consecutive day. This was the third day when the index traded in a 50-point range between 10,620 and 10,670 levels. The index is likely to consolidate further unless it decisively breaks above the 10,660 level. Any sustainable move above the 10,660 level can make the Nifty50 rally towards 10,690, 10,720 levels. On the downside, an immediate intraday support stands at around 10,630 and 10,550 level.

  • After market hours: Tata Consultancy Services, the country's largest IT firm, today reported 1.3 per cent quarter-on-quarter (QoQ) rise in net profit at Rs 6,531 crore for the quarter ended December 31, 2017. It had posted net profit of Rs 6,446 crore in the sequential quarter ended September 30, 2017. This quarter's TCS results are as per market expectations.

NIFTY 3-Month

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