After four days of decline, the Indian equity market experienced an exceptionally tumultuous session on Monday. The benchmark indices made a flat, favourably biassed settlement. Until the index closes firmly above 19,800 on the higher side, range-bound trading is anticipated to continue, and a definitive break of the 19,600-19,500 zone might trigger additional market corrections, according to experts.
The BSE Sensex increased 15 points to 66,024, the Nifty50 increased 0.2 points to 19,674.50, the Nifty Midcap 100 index increased 0.66 percent, and the Nifty Smallcap 100 index increased 0.04 percent. The NSE’s market breadth was marginally in favour of bears, with 963 shares increasing and 1,099 declining. The Nifty Bank index gained 154 points to reach 44,766 on the sectoral front, breaking a four-day losing trend, while the Nifty IT index lost 258 points.
Although encouraging signs from US counterparts are present, this morning’s global cues are largely mixed as Asian markets continue to decline. Wall Street ended in the black after snapping a four-day losing trend. In the meantime, the Gift Nifty suggests that the Indian market will open slowly.