Mumbai, July 13 (ANI): India’s benchmark stock indices recovered from early losses to end marginally higher Monday, supported by gains in information technology stocks.
The BSE Sensex closed at 77,616.40, up 47.01 points, or 0.06%, while the NSE Nifty 50 settled at 24,211, gaining 4.10 points, or 0.02%.
Both benchmark indices remained above key support levels, suggesting the broader market trend stayed positive despite limited movement during the session.
Investor sentiment remained cautious amid geopolitical tensions between the United States and Iran, which pushed crude oil prices higher.
On the BSE, top gainers included TCS, HCL Technologies, Infosys, NTPC, Kotak Mahindra Bank, Power Grid, ICICI Bank, and Bajaj Finance.
Major laggards included Tata Steel, Eternal, IndiGo, Adani Ports, Bharat Electronics (BEL), ITC, and Trent.
Most sectoral indices ended lower. Nifty Financial Services, Bank Nifty, Nifty Private Bank, Nifty PSU Bank, and Nifty Financial Services 25/50 declined by as much as 1%.
Nifty IT was the top-performing sector, rising more than 3%, while Nifty FMCG fell more than 1%. Nifty Media and Nifty MidSmall IT & Telecom also posted gains of more than 2% and 1%, respectively.
In the commodities market, Brent crude was trading at $77.33 per barrel at the time of reporting, while gold was trading at $4,072.34.
Commenting on the market, Riyank Arora, associate vice president for HNI and 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 in a narrow range while holding above the 50 EMA, indicating the broader short-term trend remains positive. The index is finding support near 24,100, with immediate resistance placed at 24,250. RSI is hovering around 54, suggesting neutral-to-positive momentum without any overbought signals. A decisive move above 24,250 could extend the uptrend, while a break below 24,100 may trigger profit booking.” (ANI)
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