Overview
- Nifty closed at 26,033.75, snapping a four-day losing streak after profit-taking pulled the index off its intraday highs.
- Analysts highlight 25,900–26,200 as the key near-term range, with a strong resistance cluster around 26,100–26,200.
- Bank Nifty is consolidating with support near 59,000, resistance around 59,800, and a base seen forming in the 58,500–60,100 zone.
- Foreign institutional investors were net sellers by Rs 3,206.92 crore for a fifth straight session, while the rupee slipped to a fresh low of 90.43 against the dollar.
- IT outperformed with a 1.41% rise on Federal Reserve rate-cut hopes and currency tailwinds, as midcap and smallcap indices underperformed.