Stock Market Close: Sensex falls 151 pts, Nifty ends at 23,162 as US-Iran conflict deepens – Delhi News Daily

IT stocks also lagged amid concerns that stronger US inflation could delay interest rate cuts and keep global financial conditions tight. Global cues remained mixed, with major central banks continuing to signal a hawkish stance. The expected ECB rate hike has further heightened concerns around liquidity tightening and its potential impact on emerging market flows.

View by: Vinod Nair, head of research, Geojit Investments 

Stock Market LIVE Updates: The 23,250–23,300 zone continues to act as the immediate resistance area, where repeated selling pressure has emerged over the last few sessions. Above this, the falling trendline resistance near 23,600 remains the next major hurdle for the bulls. A decisive breakout above these levels would be required to improve the near-term outlook and signal a meaningful recovery in momentum.

On the downside, 23,070 remains the immediate support level. A breach below this zone could extend the ongoing corrective phase towards the 23,000 psychological mark, followed by the 22,850–22,900 region, which coincides with the lower boundary of the current declining channel and may attract fresh buying interest.

Momentum indicators continue to reflect weakness, with the daily RSI hovering around 38. While this suggests the bearish undertone remains intact, the index is gradually approaching oversold territory, increasing the possibility of intermittent short-covering rallies and temporary relief bounces.