Stock Market LIVE Updates: GIFT Nifty suggests a muted start; BEL, M&M, IRFC, Tata Motors in focus
Ajit Mishra – SVP, Research, Religare Broking
Markets started the week on a volatile note and ended almost unchanged, taking a breather after the recent slide. Following a flat start, the Nifty oscillated sharply on both sides before finally settling at 24,634.90. On the sectoral front, a mixed trend kept traders engaged, with realty, energy, and metal posting gains, while auto and FMCG ended muted. In line with the benchmark, the broader indices also closed on a flat note.
On one hand, the overhang of recent U.S. policy actions has eased slightly; however, persistent foreign fund outflows and caution ahead of the MPC meeting continue to weigh on sentiment.
We believe oversold positions may now lead to some consolidation in the Nifty, with strong support around the 24,400–24,500 zone and resistance placed at 24,800–25,000. In the meantime, participants should focus on selective stock opportunities aligned with sectoral trends while keeping position sizes under check.