Equity markets witnessed a choppy session on Tuesday, with benchmark indices oscillating between gains and losses before ending marginally in the green. Despite ongoing geopolitical tensions and investor caution, the Sensex closed 70 points higher, while the Nifty posted a modest gain of seven points.
The BSE Sensex opened on a strong note, climbing nearly 180 points to touch 80,396. It later surged to an intra-day high of 80,661 before erasing most of its gains amid selling pressure, dropping to a low of 80,122 — down 539 points from the day’s peak. The index recovered in the final hours to close at 80,288, up 0.1 per cent.
The NSE Nifty followed a similar trajectory. It opened at 24,370, reached an early high of 24,457, and then slipped to an intra-day low of 24,290. The index settled at 24,336, a seven-point rise from the previous close.
“Investors are treading cautiously due to uncertainty around the potential impact of U.S. President Donald Trump’s tariff moves,” said Sundar Kewat of Ashika Institutional Equity. He added that market participants are keeping a close watch on upcoming corporate earnings and key economic data from the U.S., which are expected to influence investor sentiment and shape expectations for future growth.
On the gainers’ list, technology stocks led the rally. Tech Mahindra, Eternal (formerly Zomato), HCL Technologies, Bajaj Finserv, Infosys, and TCS rose between 1 and 2 per cent.
On the flip side, UltraTech Cement and Sun Pharma were the worst performers, each declining by 2 per cent. Other notable losers included Kotak Mahindra Bank, NTPC, SBI, and Nestle India.
Broader market indices reflected mixed sentiment. The BSE MidCap index edged up by 0.2 per cent, while the SmallCap index gained 0.1 per cent.
Among sectoral indices, the BSE IT and Capital Goods indices rose by 1 per cent each. However, the Metal index declined by 1 per cent, while Power and Bankex indices slipped 0.5 per cent each.
Hrishikesh Yedve, Technical Analyst at Asit C. Mehta Investment Intermediates Ltd. (a Pantomath Group Company), noted that the Nifty formed a ‘shooting star’ pattern on the daily chart — a sign of selling pressure at higher levels.
“Resistance is expected around 24,460. If the index sustains above this level, it could potentially rally toward 24,800–24,850. On the downside, key support is placed at the 200-Day Simple Moving Average near 24,050, followed by 23,850. Traders should watch these levels closely for trading cues,” he said.
-IANS
