Sensex, Nifty recover from day’s lows to end flat; IT stocks shine

MUMBAI: Indian equity benchmarks erased most of their intra-day losses to end marginally higher on Monday, aided by strong buying in information technology stocks even as investors continued to track developments in West Asia.

The benchmark Nifty closed 6.45 points, or 0.03 per cent, higher at 23,649.95, while the Sensex gained 77.05 points, or 0.10 per cent, to settle at 75,315.04. Both indices had traded in negative territory for most of the session before recovering in late trade.

Commenting on Nifty technical outlook, market experts said that the 23,700 level now stands as an immediate resistance area, while a sustained breakout above this region could strengthen recovery momentum toward the broader 23,900–24,000 zone.

"On the downside, the 23,300 region continues to remain a strong base support area," an analyst stated.

Buying in heavyweight IT counters supported the rebound, with Tech Mahindra, Infosys and Bharti Airtel emerging as the top gainers on the Nifty index. The Nifty IT index surged more than 2 per cent, outperforming all other sectoral gauges.