Indian Markets Resilient Amid Asian Tech Selloff and El Niño Fears

Indian markets remain relatively resilient despite global technology weakness and concerns over El Niño impacting inflation and rural demand. Nifty held above the 24,000 mark, supported by easing crude prices, improving global sentiment, and sustained domestic institutional inflows. However, broader risks persist from global tech selloffs and potential inflation pressures.

The rupee ended marginally weaker, reflecting mixed macro signals. Sectorally, BFSI remains a key beneficiary of policy support and improving liquidity conditions. Technically, Nifty faces resistance near 24,262, while a breakout above this level could extend gains toward the 24,500 zone, with downside protection intact.