New Delhi, Feb. 25 -- Market recap: Nifty50's performance on 24 February

Nifty50, India's benchmark index, extended its losses for the fifth consecutive session and closed at 22,553.35 on Monday. Taking cues from the global market, the index saw a gap-down opening at 22,609 and continued to trade in a narrow range of 22,518-22,650. Weak economic data and steady inflation in the US raised concerns of slowing business activity and weakening consumer demand. Barring FMCG and auto, all the major sectoral indices closed lower. The advance-decline ratio was skewed toward decliners, with a ratio of approximately 1:3.

From a technical perspective, the index closed below its crucial support zone of 22,700-800. The 14-day relative strength index ...