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Market Report

Wednesday, 07-Mar-2018

NSE

  • The 30-share Sensex tumbled by 284.11 points or 0.85% to end at 33,033.09 today, its lowest closing since 7 December. The index has now lost 1,412.66 points in six sessions. The broader NSE Nifty dipped below the 10,200-mark to finish at 10,154.20 today, down by 95.05 points, or 0.93%. All sectoral indices, barring FMCG and consumer durables, ended in the red. Of the 50 Nifty constituents, only 14 components managed to close in the green, while 36 settled in the red zone.

  • Benchmark indices reeled for the sixth straight session today, reflecting losses in overseas markets after the exit of a key White House economic adviser sparked fears of a global trade war. Markets across Asia and Europe slumped following the resignation of White House's top economic adviser Gary Cohn, reportedly over differences with US President Donald Trump on trade policy and protectionism.

  • The Nifty50 index opened flattish and witnessed sustained selling pressure throughout the day today. Recently, it had broken the swing low support at 10,276 after the consolidation of last 18 sessions and started the fresh decline. The index formed a Bearish Belt candle on the daily scale, which indicates that the bears are holding the grip on the market. The Nifty has seen a correction of around 1,000 points from the top of 11,171 and now immediate support exists near to 10,100 zones, which is the 200-EMA on daily scale. Were the index to break below 10,100, then 10,040 and 9,950 levels would look the next logical supports.

NIFTY 3-Month

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