The Nifty 50 index has been trading below the 21EMA on the daily chart. On the lower end, support is placed at 23,000 on a sustained basis, while on the higher end, the index may move towards 23,200 or higher,

The domestic equity market failed to sustain early gains and ended near the day’s low, extending its losing streak to seven consecutive sessions. This marks the longest losing run in three months, as selling pressure intensified in the final hour of trade.

Indian benchmark indices, Sensex and Nifty, opened higher on Thursday, breaking a six-day losing streak, driven by gains in banking and financial stocks as investors responded to domestic inflation data suggesting a potential rate cut.