Nifty-50 index that continued its correction phase may consolidate in coming days and is likely to stay in the 24832-25230 band for the near term and breach in any of the directions can accelerate the movement in that direction,

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the green. Nifty 50 closed at 25,013.15, while Sensex ended at 81,634.81. Overnight, Wall Street indices staged a comeback as oil prices eased amid the ongoing tensions in the Middle East.

Within the Nifty index, several prominent companies, including Trent, BEL, Adani Ports, and Mahindra and Mahindra were among the top gainers. On the other hand, SBI Life, Tata Steel, Titan, and JSW Steel were among the top losers.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 24,885 level, a discount of nearly 100 points from the Nifty futures’ previous close.

Trent, Adani Enterprises, Adani Ports, Bharat Electronics, M&M were among the top gainers on the Nifty, while losers were Tata Steel, SBI Life Insurance, Titan Company, JSW Steel and Bajaj Finserv.

Despite some analysts hoping that foreign portfolio investment (FPI) outflows from India might reverse, further declines in Indian stocks cannot be dismissed, as per experts.

The Nifty 50 closed the session with a gain of 0.88%, finishing above the 25,000 mark at 25,013 points. Similarly, the Sensex wrapped up the day with a 0.70% increase, settling at 81,616 points.