The Indian equity market continued its losses from the previous session on Thursday, with the Nifty closing below 23,550 due to broad-based selling, except in the FMCG sector. Despite mixed global cues,

The Nifty 50 index needs to sustain above the 23,800 level and thereafter, the significant 200 period MA of 23,920 level to improve the bias, says expert.

Around 11:05 am, Sensex was trading 448.21 points lower at 77,700.28 and Nifty was down 142.85 points to 23,546.10

TCS results will give an indication of what is in store for the IT sector. The strength of the US economy and the depreciation of rupee will be tailwinds for the IT sector.