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Market Report

Wednesday, 31-Jan-2018

NSE

  • The 30-share BSE Sensex index remained in the negative zone for the major part of the session and lost 68.71 points, or 0.19 per cent to finish at 35,965.02 today. Intra-day, it shuttled between 35,818.41 and 36,050.69. The broad-based NSE Nifty hit a low of 10,979.30 intra-day, but managed to end above the 11,000-level at 11,027.70 today, down 21.95 points, or 0.20 per cent, with 28 constituents ending in the red, 21 in the green and 1 unchanged.

  • Selloff continued on Dalal Street for the second day in a row on Wednesday, as investors developed cold feet on the eve of the Union Budget 2018-19. Weak global cues were another major factor that dragged the market lower.

  • The Nifty50 formed a small-bodied candle and closed near its opening level after moving in a range of 80 points in Wednesday's session. The index fell to 10,980 level, but managed to recover from the lows, which indicated that the decline got bought into. The bulls are not losing their grip, while the bears are putting pressure at higher levels. It requires Nifty to hold above 11,111 decisively to extend its upward move towards 11,250, while a slip below 10,980 could attract selling pressure towards the 10,880 level.

NIFTY 3-Month

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