The Nifty took a breather after hitting a record high of
9,218 in the earlier week and closed 0.56 percent bring down for the week
finished March 24, 2017. The S&P BSE Sensex ended 0.7 percent lower at
29,421.40 in the same period.
The S&P BSE
midcap index closed 0.3 percent lower, while the S&P BSE Smallcap index
ended 0.4 percent higher for the week ended March 24.
The market is consolidating in a narrow range close to
its critical support level, which still warrants some alert as a breakdown
could take the index towards even lower levels from here. However, a breakout,
could take the Nifty towards 9,218-9,250 level and beyond.
Sebi
bans RIL from equity derivatives
Come Monday morning, Reliance Industries (RIL), the
nation’s second most valued firm will be in focus after the Securities and
Exchange Board of India (SEBI) on Friday prohibited RIL and 12 others from
equity derivatives trading for one year and directed the firm to disgorge
nearly Rs 1,000 crore for alleged fraudulent trading in a 10-year-old case.
March
F&O expiry
Stock Future Tips The stock exchange is expected to stay volatile in front
of the expiry of March month’s contract as traders roll over their derivative
positions (Futures & Options (F&O)) segment from the near-month March
2017 series to April 2017 series.
