Indian benchmark equity indices recovered from early losses to end marginally higher on Monday, with the Sensex and Nifty posting modest gains despite cautious investor sentiment. The Sensex closed at 77,616.40, up 47.01 points or 0.06 per cent, while the Nifty settled 4.10 points, or 0.02 per cent, higher at 24,211.
Both benchmark indices continued to trade above their crucial support levels, signalling that the broader market trend remained positive despite the subdued movement during the session. Investor sentiment, however, stayed cautious amid escalating geopolitical tensions between the United States and Iran, which kept crude oil prices elevated.
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Among the top gainers on the BSE were TCS, HCL Technologies, Infosys, NTPC, Kotak Mahindra Bank, Power Grid Corporation, ICICI Bank and Bajaj Finance. On the losing side, Tata Steel, Eternal, IndiGo, Adani Ports, Bharat Electronics (BEL), ITC and Trent ended as the major laggards.
Most sectoral indices finished in negative territory. Nifty Financial Services, Bank Nifty, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services 25/50 declined by up to 1 per cent during the session.
Nifty IT emerged as the best-performing sector, gaining more than 3 per cent, supported by strong buying in technology stocks. In contrast, Nifty FMCG slipped over 1 per cent. Nifty Media and Nifty MidSmall IT & Telecom also ended in the green, advancing more than 2 per cent and 1 per cent, respectively.
In the commodities market, Brent crude was trading at USD 77.33 per barrel at the time of reporting, while gold was quoted at USD 4,072.34. Commenting on the day's trade, Riyank Arora, Associate Vice President – HNI & Derivatives at Hedged.in, said, "The market witnessed consolidation after the recent sharp upmove, which appears to be a healthy pause rather than a reversal. As long as benchmark indices continue to hold above their key support levels, the broader outlook remains constructive. Traders may continue to adopt a buy-on-dips strategy while maintaining disciplined risk management."
Market analyst Vipin Dixena said, "Nifty is consolidating within a narrow range while holding above its 50-day Exponential Moving Average (EMA), indicating that the broader short-term trend remains positive. The index is finding support around the 24,100 level, while immediate resistance is placed near 24,250.
The Relative Strength Index (RSI) is hovering around 54, suggesting neutral-to-positive momentum without entering overbought territory. A decisive breakout above 24,250 could extend the ongoing uptrend, whereas a fall below 24,100 may lead to profit booking."
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