The Indian equity benchmarks logged in third straight session of gains led by gains in Infosys, Asian Paints, Tata Consultancy Services, Titan and Bajaj Finserv. The benchmarks staged a gap up opening wherein the Sensex rose as much as 309 points and Nifty 50 index touched an intraday high of 15,294. However, due to selling pressure in banking and financial services shares, the benchmarks wiped out entire intraday gains to close on a flat note.
The Sensex ended 14 points lower at 50,637 and Nifty 50 index advanced 11 points to close at 15,208.
“We witnessed some lackluster movement in the market and an attempt to break the resistance level around the Nifty 50 index level of 15,300. Our research suggests, the short-term technical condition of the market appears like a sideways correction in the process. If Nifty sustains above 15,000 levels, we expect it to gain momentum, and hit 15,400,” Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited.