Stock Market Live Updates: Sensex, Nifty recoup early losses to trade flat in mid-morning session

Sensex, Nifty, Share Prices LIVE: Benchmark indices Sensex and Nifty, which opened Monday’s session on a weak note, recouped their early losses to trade flat in the mid-morning session. At 11:20 am, Sensex was at 79,827.88, up 24 points, while the Nifty was at 24,148.70, up 17.60 points or 0.07 per cent higher.

Commenting on the Nifty’s rally last Friday, Akshay Chinchalkar, Head of Research at Axis Securities said: The Nifty’s rebound on Friday generated a “bullish belt-hold” formation as the prior day’s losses were largely recouped - this pattern is seen when a bullish day whose open matches the lows immediately follows a long bearish day. That makes Thursday’s lows at 23,873 important for bulls and bears alike, while resistance remains steadfast at 24,360 followed by the 24,540 area.

Earlier, contrary to market expectations, the benchmark indices opened in the red. Sensex sank 321.26 points or 0.40 per cent to trade at 79,481.53 as at 9.16 am, and Nifty 50 declined 76.60 points or 0.32 per cent to 24,054.50