Market wrap: RIL, Tata Steel, Infosys, ICICI Bank top gainers and losers on Nifty and Sensex on Monday

Buying interest extended to the broader markets, with the Nifty Smallcap 250 rising 1.35% and the Nifty Midcap 100 gaining more than 1%.

Among sectoral indices, the Nifty Oil & Gas emerged as the top performer, surging nearly 6%, while the Nifty Metal index rallied more than 3%. The Nifty Auto, Nifty PSU Bank, Nifty Consumer Durables and Nifty Realty indices, along with several others, advanced 1-2%.

However, select sectors bucked the broader market trend, with the Nifty Pharma, Nifty Private Bank and Nifty IT indices, among others, slipping into negative territory.

The overall market breadth remained firmly positive. On the NSE, 2,445 stocks advanced, compared with 1,164 declines, while 104 stocks remained unchanged.

Here are today’s top gainers on the Nifty

Technically, the Nifty closed firmly above its 50-day SMA and approached the 23,500 resistance area. The 23,250–23,350 band should now provide immediate support; holding it could open the way toward 23,600, while a break below 23,250 would weaken the breakout, according to Hariselvan Radhakrishnan, Founder & CEO of HST Wealth.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here