Nifty holds on its trend line support

The 200-DSMA is around 23,870, acting as a short-term resistance, while 23,500 will serve as the support level

- Motilal Oswal Team

Indian benchmark indices ended Tuesday with modest losses, marking the second consecutive day of decline. The Nifty 50 closed just below 23,650, after reaching a high of 23,689.85 points during the afternoon. The S&P BSE Sensex fell by 109.12 points, or 0.14%, to close at 78,139.01. The Nifty 50 ended nearly flat at 23,644.80.

The market was pressured by weakness in IT stocks, though gains in sectors like pharma, PSU banks, and oil and gas provided some support. Investor sentiment remained cautious due to a rising US dollar and continued selling by foreign institutional investors (FIIs) as the year ended.