Nifty and Sensex: A total of 3,193 equities were actively traded, with 2,144 advancing, 951 declining, and 98 stocks staying constant. The NSE Nifty increased by 0.39 percent, or 85.80 points, to 21,860.65, while the BSE Sensex increased by 0.37 percent, or 268.67 points, to 72,000.09. At 10 a.m. on Tuesday, 3,193 stocks were actively traded, with 2,144 advancing, 951 declining, and 98 remaining unchanged. At that time, 242 stocks reached a 52-week high and 28 stocks reached a 52-week low.
Dr. V K Vijayakumar, Chief Investment Strategist, at Geojit Financial Services, stated, The near-term market trend indicates exhaustion, and there are no clear positive triggers that can propel the market to sustained new highs immediately. A key event is the RBI meeting on the 8th. However, no positive triggers such as a rate drop are expected from the RBI meeting. The global market structure is also tough, with the 10-year bond yield climbing again to 4.13 percent and the dollar index rising to 104.50.
Nifty and Sensex rise; market trends indicate prudence despite global challenges.
The good news is that the US economy is unexpectedly strong and that it is highly improbable that a potential US recession would cause a severe global slowdown. This can help sustain global equities markets, in addition to the US’s decreasing inflation rate. Those who want to stay involved in this bull market may have to wait and observe for new patterns to emerge.
Nifty ended slightly on a weak note after witnessing some volatile sessions again resisting near the 22,000 levels as mentioned earlier, and it is important to cross the barrier zone for a continuation of the further upward move, stated Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher. The day’s support is located at 21,600, and the resistance is at 21900.
With increases ranging from 7 to 11 percent, Yes Bank, Triveni Turbine, Indian Overseas Bank, Fortis Healthcare, and UCO Bank are among the top gainers on the BSE.
With losses ranging from 5 to 12 percent, Best Agrolife, Suven Pharmaceuticals, Rolex Rings, Prince Pipes and Fittings, and Nbcc India are among the major losers.
Gains were seen as BSE SmallCap was up 1.8% and MidCap was up 0.78 percent.
