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Market Report

Wednesday, 17-Jan-2018

NSE

  • The 30-share Sensex jumped 310.77 points, or 0.89 per cent, to end at a new peak of 35,081.82, breaking its previous record of 34,843.51 reached on January 15. Intra-day, it climbed to 35,118.61, bettering its previous intra-day high of 34,963.69 reached on January 15. It took 17 sessions for the index to scale the 35,000 mark from 34,000 level reached on December 26. The broader Nifty surged 88.10 points, or 0.82 per cent, to close at a new peak of 10,788.55, breaking its previous record of 10,741.55 hit on January 15. It also touched an intra-day record of 10,803, surpassing its previous high of 10,782.65 hit on January 15, with 38 constituents closing in the green and 12 in the red.

  • The benchmark index BSE Sensex broke free and crossed the magical figure of 35,000 for the first time ever as fiscal deficit worries eased, and there were expectations of big changes in the Goods and Services Tax at the GST council's next meet tomorrow. The broader Nifty too ended at a fresh life-time high on unabated buying by participants. Brokers said sentiment got a lift after the government today lowered the additional borrowing requirement for the current fiscal to Rs 20,000 crore from Rs 50,000 crore estimated earlier.

  • Nifty50 broke the strong resistance zone of 10,750-10,780 levels to hit the psychologically important 10,800-mark briefly today. The index made a 'Bullish Engulfing' pattern on the daily chart and nullified the consolidation of last two sessions. Experts believe further buying may open up way for the 11,000-mark if the index sustains 10,800. Downside support exists at 10,760 and at 10,650 levels.

NIFTY 3-Month

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