Mumbai, Benchmark equity indices ended little changed on Monday, recovering from their intra-day lows as gains in information technology stocks helped offset weakness in FMCG and metal shares.<\/p>\n\n\n\n
The Sensex closed 47.01 points, or 0.06 per cent, higher at 77,616.40, while the Nifty edged up 4.10 points, or 0.02 per cent, to settle at 24,211.<\/p>\n\n\n\n
Commenting on Nifty technical outlook, experts said that the 24,300\u201324,400 region now stands as the immediate resistance zone, with the upper end of this band closely aligned with the 200-day Exponential Moving Average (EMA), making it a crucial hurdle for the index.<\/p>\n\n\n\n
\u201cA sustained breakout above this band would reinforce bullish momentum and could pave the way for an advance towards the 24,500\u201324,600 region,\u201d an analyst stated.<\/p>\n\n\n\n
\u201cOn the downside, the 24,000 psychological level continues to serve as a crucial support zone and will be key to sustaining the broader recovery trend,\u201d the analyst stated.<\/p>\n\n\n\n
The recovery was led by buying in frontline IT stocks, with Tata Consultancy Services (TCS), HCLTech and Tech Mahindra emerging as the top gainers in the Nifty index.<\/p>\n\n\n\n
The broader market also ended on a positive note, though gains remained marginal. The Nifty MidCap index rose 0.01 per cent, while the Nifty SmallCap index advanced 0.03 per cent.<\/p>\n\n\n\n
Among sectoral indices, the Nifty IT index outperformed the market, supported by gains in major technology stocks.<\/p>\n\n\n\n
In contrast, the Nifty FMCG and Nifty Metal indices were the biggest laggards.<\/p>\n\n\n\n
Despite a subdued finish, the benchmark indices managed to recover from the day’s lows as late-session buying in IT stocks helped keep the market in positive territory.<\/p>\n\n\n\n
Meanwhile, Rupee traded weaker by around 0.26 per cent to 95.60, as a more than 4 per cent surge in crude oil prices increased concerns over India’s import bill and weighed on the domestic currency.<\/p>\n\n\n\n
\u201cTechnically, the rupee is expected to trade in the 95.20\u201396.00 range in the near term,” as per the analyst.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mumbai, Benchmark equity indices ended little changed on Monday, recovering from their intra-day lows as gains in information technology stocks helped offset weakness in FMCG and metal shares. The Sensex […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,20],"tags":[],"class_list":["post-3109","post","type-post","status-publish","format-standard","hentry","category-business","category-display","has_no_thumb"],"_links":{"self":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/3109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3109"}],"version-history":[{"count":1,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/3109\/revisions"}],"predecessor-version":[{"id":3110,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/3109\/revisions\/3110"}],"wp:attachment":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}