Mumbai: The Nifty snapped its 5-day losing streak and provided some relief to the bulls despite it being a choppy session. The 50 –stock index managed to defend its previous day’s low near 14650 and bounced twice from around that level in yesterday’s trading session. The Nifty Bank extended its decline to 6 days in a row and has lost 6 percent during that time. It is now testing 20-day moving average support at 34906. The Nifty Small & Midcap indices snapped their 2-day losing streak and ended 1 percent higher. The market breadth was positive for the first time in 3 days. The Nifty IT is facing resistance at its 50-day moving average while Nifty FMCG & Media are trading very close to their rising trend line from the low of last March. Among other sector highlights – Nifty Metal gained most since budget day to end as the best sector for the day, Nifty Realty gained most since 2 February 2021, Nifty PSE & Energy snapped their 2-day losing streak and Nifty Financial Services declined 6 percent during last 6 days. Foreign investors sold Indian equities worth Rs 1569 crore in the cash segment on a provisional basis and bought Rs 3281 crore in the futures & options market. They decreased the net long in index futures to 63 percent vs 64 percent on the previous day. That’s below the February average of 65 percent. Domestic institutions sold Indian equities worth Rs 217 crore in the cash market.