Stock Market Live Updates Today: BSE Sensex, Nifty50 may see range-bound trading on rising crude oil prices, mixed global cues
India’s Nifty50 and BSE Sensex may trade within tight ranges due to rising crude oil prices and mixed global cues, while the Nifty IT index posted its strongest daily gain in a year, led by Tata Consultancy Services and Infosys, amid optimism over global AI-driven tech spending and a weaker rupee. Analysts predict further consolidation between 52,500–54,600 for Nifty50 unless a breakout occurs, while IT stocks show technical strength with potential to test April highs near 32,000–32,100.
India’s benchmark indices, Nifty50 and BSE Sensex, are expected to trade in a narrow range today as rising crude oil prices and mixed global market cues weigh on sentiment. Analysts highlight stock-specific movements as the primary driver, with attention fixed on the Reserve Bank of India’s upcoming monetary policy decision, which could impact interest rate-sensitive sectors. Technology stocks remain a focal point, buoyed by positive commentary from global AI firms and sustained strength in overseas tech markets. The Nifty IT index delivered its best single-day performance in a year, surging 4.2% to close at 31,116.6 after three consecutive gains. Tata Consultancy Services led the rally with a 6.7% jump, while Infosys, HCL Technologies, and LTIMindtree rose between 4% and 6%. Kunal Bajaj of Choice Institutional Equities attributed the strength to optimism around global software companies and evidence that AI is boosting—not disrupting—technology spending. A weaker rupee, robust deal pipelines, and improving discretionary tech spending outlook further support the sector. Technical indicators reinforce the bullish trend, with the Nifty IT index forming a bullish hammer pattern on the monthly chart, suggesting a potential reversal. Ruchit Jain of Motilal Oswal Financial Services noted short-covering in stocks like TCS and HCL Technologies, alongside fresh buying in Infosys and Coforge. Despite the rebound, the Nifty IT index remains down 17.9% in 2026, underperforming the broader Nifty 50, which has declined 10.1% year-to-date. Analysts project further upside toward the 32,000–32,100 zone, aligning with April highs, while the broader Nifty50 is consolidating between 52,500 and 54,600. Key support for the index rests at 52,700–52,500, combining the lower band of the April bullish gap and a 61.8% retracement level. Resistance lies at 54,600–55,000, marked by the current week’s high and the 20-day exponential moving average. A definitive breakout or breakdown is expected to signal the next directional move for the index.
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