Sensex Hits Weekly High as Oil Prices Ease, Nifty Rises Fourth Day

The BSE Sensex climbed 564.03 points to close at 74,858.99, its highest level in more than a week. The rise was backed by falling crude oil prices, fresh foreign fund inflows and gains in global equities. The NSE Nifty logged its fourth straight session of gains, up 67.90 points to finish at 23,414.30. UltraTech Cement led the Sensex movers, jumping 4.11%, while HCL Technologies, Eternal, Titan, ITC and Tech Mahindra also posted notable gains. Bharti Airtel, Power Grid Corp., Infosys and Adani Ports lagged behind. MarketSmith India suggested buying DEE Development Engineers Ltd at ₹682 and Aegis Logistics Ltd at ₹1,479. Nifty 50 opened at 23,330.20, slipped to a low of 23,314.80, rallied to a high of 23,466.80 and closed at 23,429.00, up 82.60 points or 0.35%. Trading volume reached 207.36 million shares. The index stayed below its 21‑, 50‑, 100‑ and 200‑day moving averages, indicating a weak broader trend. RSI rose to 37.54, still below the neutral 50 mark, and MACD remained negative at –244.93, suggesting bearish momentum despite a shrinking histogram. Immediate support lies at 23,315, with further cushions at 23,200 and 23,050‑23,100. Resistance sits around 23,465‑23,500 and the 21‑day average at 23,771. Nifty Bank opened at 56,361.90, fell to 56,269.55, climbed to 56,668.20 and settled at 56,494.90, gaining 136.20 points or 0.24%. RSI improved to 44.62 but stayed under 50, and MACD stayed below zero at –330.92. Support levels are near 56,270 and 56,000, while resistance clusters around 56,530‑56,670 and 57,000. MarketSmith India is a stock‑research platform that follows the CAN SLIM methodology founded by William J. O’Neil. All recommendations reflect individual analysts’ views and not Mint’s endorsement.