Nifty Recovers from Early Slide, Holds Higher Lows Amid Rupee Weakness

Nifty staged a strong intraday recovery to close 41 points higher at 23,659, rebounding nearly 300 points from early lows despite weak global cues and rupee depreciation to record levels. Buying interest emerged at lower levels, helping the index maintain a higher‑low structure.

Oil & gas, auto, and realty sectors led gains, while IT and FMCG lagged. Broader markets remained steady with balanced participation. Persistent rupee weakness reflects ongoing FII outflows and elevated crude prices. Technically, support has shifted higher near 23,370, while 23,800 remains a key resistance for near-term upside.

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