Sensex Rises 564 Points to Close at 74,858.99
Indian benchmarks extended gains to four straight sessions despite Brent crude staying above $100.
Key points
- Sensex gained 564.03 points to close at 74,858.99, extending a four-day winning streak.
- Nifty 50 rose 67.90 points to 23,414.30, with GIFT Nifty signaling a gap-up opening.
- Brent crude staying above $100 and weak market breadth limited further upside momentum.
The Sensex advanced 564.03 points to close at 74,858.99 on Monday. This move marked the fourth consecutive session of gains for the benchmark.
The Nifty 50 index rose 67.90 points to end at 23,414.30. Traders are now watching for a gap-up opening based on GIFT Nifty levels.
Crude prices limit upside potential
Brent crude oil prices remained above the $100 mark during the session. This factor kept investor concerns elevated and limited overall market momentum.
Foreign fund inflows and easing crude prices supported the broader rally. Market breadth remained weak despite the gains in the indices.
Technical levels define the path
Analysts identify the 74,000 to 74,450 range as key support. Resistance sits between 75,000 and 75,500 for the Sensex.
The Nifty 50 holds support at 23,250 to 23,320. Immediate resistance is placed at 23,480 to 23,550.
Global cues support positive outlook
Asian markets opened higher on Tuesday following strong US futures data. This global tone suggests a positive start for Indian stocks.
The RSI indicator improved to 37.54 from oversold levels. India VIX declined to 11.22, reflecting subdued volatility in the market.
