Sensex up 200 pts, Nifty above 26,100; IT, bank shares gain

Stock markets in India were stuggling to hold gains at higher levels, despite buying in global markets.

At 11:00 AM, the BSE Sensex index was at 85,375.97 levels, higher by 144.05 points ot 0.17 per cent, while the NSE Nifty50 traded at 26,110.8, up 42.65 points or 0.16 per cent..

Infosys, Tech Mahindra, HCL Tech, HDFC Bank, TCS, Maruti Suzuki, Titan Company, and Bajaj Finance were the top gainers, rising between 0.4 per cent and over 2 per cent on the Sensex today.

On the downside, Eternal, M&M, Power Grid, BEL, Tata Motors PV, Ultratech Cement, Bharti Airtel, and Kotak Bank were the top losers, down up to 1.2 per cent.

In the broader markets,the mid- and small-cap indices staged recovery. The Nifty MidCap index was up 0.14 per cent and the Nifty SmallCap index edged 0.13 per cent higher.

Market breadth was largely balanced with 1,299 declining stocks vs 1,214 advancing stocks on the NSE.

Among sectors, the Nifty IT index was leading the gains, advancing 1.5 per cent, followed by the Nifty PSU Bank index (up 0.7 per cent). On the contrary, the Nifty Realty index fell 0.2 per cent, and the Nifty India Defence index (down 1.3 per cent).

Nifty levels to watch

The key level to track today for Nifty is 26,200, which aligns with Fibonacci projections from the recent swing low, Ponmudi R, CEO of Enrich Money, said. “On the downside, 25,820 coinciding with the 20-day EMA emerges as the most critical support in the event of intraday corrective moves.”