The market holiday comes after a weak session on Friday, when domestic benchmark indices ended lower despite recovering sharply from their intraday lows.
The 30-share BSE Sensex pack declined 120.83 points or 0.16 per cent to close at 74,781.76, while the NSE Nifty index fell 79.70 points or 0.34 per cent to settle at 23,398.10.
Sensex recovered 621.60 points from its intraday low of 74,160.16, while Nifty rebounded 166.70 points from its day’s low of 23,231.40.
Among Nifty constituents, Dr Reddy’s Laboratories Ltd and HDFC Bank Ltd were the top gainers, while JSW Steel Ltd and Hindalco Industries Ltd were the biggest laggards.
Sectorally, Nifty Realty and Nifty Metal remained under pressure, while Nifty IT and Nifty Private Bank provided support to the broader market.
Nifty outlook
SBI Securities’ Shah said the 23,250–23,230 zone could act as a crucial support area, coinciding with Friday’s low. According to Shah, a sustained break below 23,230 could increase selling pressure towards 23,080.
On the upside, the 23,600–23,620 zone is likely to act as an immediate hurdle. A sustained move above 23,620 could extend the pullback towards 23,800 levels, Shah said.
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