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Market Report

Friday, 17-Jan-2020

NSE

  • The 30-share Sensex closed 0.03 per cent or 12.81 points higher at 41,945.37 today, while the 50-share Nifty closed 0.03 per cent or 3.15 points lower at 12,352.35 today. Earlier in the day, Sensex hit a record high of 42,063.93 as it advanced as much as 0.31 per cent or 131.37 points. Nifty had risen as much as 0.24 per cent or 29.95 points to 12,385.45 today, just 3.60 points less than its all time high. In the Sensex stocks, 17 closed higher and 13 closed in the red. For the Nifty, 21 stocks advanced, 28 closed with losses and 1 remained unchanged. Midcap and smallcaps stocks continued to outperform the headline index. BSE Midcap and BSE Smallcap rose 0.50 per cent and 0.41 per cent, respectively.

  • Our market closed so flat today that one index closed in the green while the other closed in the red. Nifty50 traded in a 64-point range on Friday to eventually close just above the 12,350 mark. Nifty's immediate support at 12,280 level stays intact, said analysts, who felt the momentum on the index is fading through it is yet to show any weakness. Though the index is trading near its resistance level, we are not seeing any noticeable weakness in prices.

  • Nifty50 opened with a marginal loss and moved up in initial trade on Friday. However, it failed to cross yesterday's high at 12,389 and remained in a narrow range for the entire second half of the session. In the process, the index formed a small bullish candle on the daily chart with an upper shadow. The market will remain positive as long as the index sustains above its immediate support in the 11,280-12,293 range. Nifty's major resistance is placed in the 12,400-12,450 zone.

NIFTY 3-Month

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