Sensex and Nifty Today: Indian stock market indices Sensex and Nifty snapped a four-day losing streak and closed with decent gains. The Nifty index closed above the 23200 mark, led by gains in Nifty PSU Banks and Metal stocks. Sensex and Nifty showed a relief rally in Tuesday’s session after a sharp sell-off in the previous two sessions.
Market sentiments improved, and the Gift Nifty indicated a gap-up opening following the positive cues from the Asian markets. According to a report, it is estimated that the Trump administration might implement tariff hikes gradually, rather than a large increase at once, which could have potentially increased the inflationary risks.
The ease in CPI inflation data released on Monday post-market and stable crude oil prices also supported the markets on Tuesday. Investors are also of the view that the recent market correction is almost overdone, and this led to buying interest in oversold stocks.
Sensex and Nifty Today
The BSE Sensex rose 169.62 points or 0.22% to 76499.63, while the Nifty 50 index gained 90.10 points or 0.39% to 23176.05. The broader markets outperformed the benchmarks, as the Nifty Midcap index gained 1286.10 points or 2.45%, while the Nifty Smallcap index added 1.98% on Tuesday.
The Nifty index stocks, Adani and Bajaj Twins, SBI, Tata Motors, Tata Steel, and Hindalco gained the most. The market breadth was on the positive side. On the NSE, 1816 shares were advanced, while 572 shares declined.
The NSE’s volatility index “India VIX” slipped 3.29% to 15.47. The Foreign Institutional Investors were the net sellers, they offloaded shares worth Rs 8132.26 cr in the Indian markets. Meanwhile, the Domestic Institutional Investors bought shares worth Rs 7901.06 cr. The Indian Rupee hits a fresh record low on Tuesday against the US dollar.
Can Sensex and Nifty Sustain Their Bullish Run?
The domestic equity markets traded a range-bound session in the afternoon and later Nifty settled at 23176. The Nifty index is looking cautious at the current juncture with support for the Nifty placed at 23000 for the next session. The sentiment on the street is bearish with mid and small-cap indices still in the bearish grip in today’s trade.
On the daily chart, the Nifty Index has formed a Gravestone Doji alongside a Bullish Harami candlestick, accompanied by a potential bullish divergence in the RSI. However, confirmation of the reversal requires a decisive close above the 23,360 level. The immediate resistance stands at 23,300, while the psychological level of 23,000 serves as a strong support,” stated Aditya Gaggar, director of Progressive Shares.
Global Stock Market Cues
The global stock markets are mostly trading in the flat note. The US stock market indexes are trading mixed at 10 PM IST, Dow Jones is trading marginally higher while the S&P 500 and Nasdaq are trading flat to the negative. The European stock market indexes also closed mixed, FTSE ended in the red, while CAC and DAX closed higher. The Gift Nifty, at present, is trading flat to the positive.
Conclusion
Sensex and Nifty rebounded with gains driven by positive cues, easing inflation, and stable crude prices. However, sustaining this momentum requires a decisive close above 23,360 for the Nifty. While market sentiment has improved, caution remains as investors watch key levels and global trends to determine if the rally can continue.
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Editor’s Desk