Stock Market Today, June 17 Highlights: Indian stock markets continued their winning streak for the fourth consecutive day on Wednesday, with Sensex and Nifty closing in the green territory, supported by a significant fall in crude oil prices following a peace deal between the US and Iran and easing FII outflows. Analysts flag oil as a key positive, while monsoon concerns remain a near-term risk for sentiment.
The 30-share BSE Sensex closed 347.14 points, or 0.45 per cent higher to settle at 77,155.62. During the day, it jumped 410.51 points, or 0.53 per cent, to 77,218.99.
The 50-share NSE Nifty rallied 96.55 points, or 0.40 per cent, to end at 24,085.70. Intraday, the benchmark advanced 119.05 points, or 0.49 per cent, to 24,108.20.
Sensex gainers and losers today
Stock Markets Today, June 17- Quick Highlights
Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, “The upside momentum with range bound action continued in the market on Wednesday and Nifty closed the day higher by 96 points. After opening higher, the Nifty continued with further upside within a narrow range for entire session.”
A small bullish candle was formed on the daily chart with minor upper and lower shadow. Technically, this market action signals range bound movement with positive bias around the crucial hurdle of 24100 levels (previous swing high of 26th May, he said.
“The underlying short-term trend of Nifty continues to be positive with range movement. A decisive move above 24100 could open more upside towards 24500 levels (200day EMA) in the near term. Immediate support is placed at 23900,” Shetti added.
