Indian benchmark indices recovered from early losses on Monday as FIIs made their largest net purchase in two months. Investors are monitoring the 22,500 support level on the Nifty as the market continues to consolidate.
Indian stock markets witnessed a notable shift in sentiment on Monday, driven by the largest daily buying by foreign investors in nearly two months. Foreign Institutional Investors (FIIs) net purchased ₹4,240 crore in Indian equities, which acted as a vital counterweight to domestic selling. Domestic Institutional Investors (DIIs) offloaded a net ₹1,250 crore, but the foreign inflow provided a necessary support floor for the benchmark indices. Following this influx, the Sensex recovered 500 points from its lowest point of the day, while the Nifty moved back toward the 22,650 level.
Market Range and Support Levels
Technical analysts are currently tracking a consolidation phase for the Nifty. The index is trading within a range of 22,370 to 22,830. Within this, the 22,500 mark has emerged as a key psychological support level. If the market fails to hold this floor, it could signal further weakness. On the upside, the index faces overhead resistance near 22,800. Traders are keeping a close watch on these boundaries, as the current market remains sensitive to fluctuations. The primary focus for the market will be whether the indices can establish a firm base above the 22,500 level or if renewed selling pressure emerges near the resistance zones. Investors may monitor the sustainability of these levels as an indicator of near-term market direction.