Benchmark indices Sensex and Nifty delivered a decent recovery to end the session with a slight gain on Thursday. The market started the session under pressure amid weak global cues, elevated crude oil prices, persistent selling by foreign institutional investors (FIIs) and continuous geopolitical tensions in the Middle East. However, the profit booking stopped, allowing both the Nifty and Sensex to recover sharply from the day’s lows. The 30-share BSE Sensex gained 13.84 points or 0.02 per cent, to settle at 74,360.01. The 50-share NSE Nifty added 10.95 points, or 0.05 per cent to end at 23,416.55. During the day, the BSE hit a high of 74,544.24 and a low of 73,807.30, gyrating 736.94 points.
“On the downside, 23,300โ23,350 continues to act as immediate support, followed by the stronger 23,150โ23,200 demand zone, which has attracted buying interest repeatedly over the last few sessions. A breakdown below this region could trigger fresh selling pressure towards the 23,000 psychological support level, which also remains a major put base,” Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth.
Biggest gainers and losers
Titan, Eternal, ITC, Tech Mahindra and State Bank of India were among the top gainers of the Sensex 30 pack, with Titan adding 3.34 per cent.ย Infosys, Bajaj Finserv, UltraTech Cement, HCL Tech and Adani Ports were among the laggards, withย Infosys losing 1.76 per cent.
“The rebound once again highlighted the market’s ability to attract buying interest whenever valuations become attractive near critical support zones,” Hariprasad K said.
While large-cap stocks remained subdued, small- and mid-cap stocks saw a surge today. The Nifty Midcap 100 and Nifty Smallcap 100 indices both closed with gains of 0.5 per cent each.
Asian markets today
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended lower.
Markets in Europe were trading mostly higher.ย US markets ended lower on Wednesday. On Wednesday, the Sensex dropped 303.67 points, or 0.41 per cent, to settle at 74,346.17. The Nifty declined 77.95 points, or 0.33 per cent, to end at 23,405.60.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)