Benchmark stock market indices experienced a range-bound trading session on Tuesday, reflecting a cautious sentiment among investors. The S&P BSE Sensex managed to gain 147.71 points to close at 74,602.12, while the NSE Nifty50 ended flat, losing 5.80 points to settle at 22,547.55. The session was marked by lackluster momentum, with market participants remaining on the sidelines amid ongoing global economic concerns.
According to Aditya Gaggar, Director of Progressive Shares, the markets showed no clear direction throughout the day, resulting in a marginally lower close. He noted that midcap and smallcap stocks underperformed, as the Nifty Midcap100 declined by 0.70%, and the Nifty Smallcap100 fell by 0.50%. Meanwhile, India VIX, a measure of market volatility, dropped 4.98%, suggesting reduced uncertainty among investors.
Sectoral Performance
The sectoral indices reflected a mixed trend, with bearish sentiment dominating most sectors.
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Top Losers:
- Nifty Realty suffered the biggest decline, plunging 1.39%, followed by Nifty PSU Bank, which dropped 1.30%.
- Nifty Metal lost 1.54%, while Nifty Pharma and Nifty IT declined by 0.77% and 0.86%, respectively.
- Nifty Bank and Nifty Financial Services 25/50 slipped slightly by 0.09% and 0.04%, respectively.
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Gainers:
- Nifty Media emerged as the top-performing sector, rising 0.74%, followed by Nifty Auto, which gained 0.39%.
- Nifty FMCG increased by 0.26%, while Nifty Financial Services advanced 0.16%.
- Nifty Private Bank managed to stay positive, ending the day with a marginal gain of 0.01%.
Commenting on the market movement, VLA Ambala, founder of Stock Market Today, said that the weak bias in the market suggests the continuation of the current downtrend. She advised traders and investors to remain cautious and adopt a well-planned investment strategy to navigate the volatility.
Top Gainers and Losers
Among individual stocks, Bharti Airtel led the gainers with an impressive rise of 2.32%, followed by Mahindra & Mahindra (M&M), which advanced 2.13%. Bajaj Finance climbed 1.40%, while Nestle India and Titan gained 1.36% and 0.87%, respectively.
On the losing side, Dr. Reddy's Laboratories faced the steepest decline, plunging 3.10%, while Hindalco Industries followed closely with a loss of 3.01%. Trent fell 2.41%, and Hero MotoCorp and Sun Pharmaceutical Industries dropped 1.72% and 1.70%, respectively.
Market Outlook
Vinod Nair, Head of Research at Geojit Financial Services, stated that market sentiment is likely to remain cautious in the near term due to various macroeconomic factors. He pointed out concerns regarding:
- Pressure on the Indian Rupee (INR)
- Continued Foreign Institutional Investor (FII) outflows
- Developments in global tariff policies
Additionally, key economic data such as the US Core PCE (Personal Consumption Expenditures) index and GDP data for both India and the US are expected to play a crucial role in shaping investor expectations and influencing the Reserve Bank of India's (RBI) future monetary policy stance.
With Nifty50’s support level at 22,400 and resistance at 22,800, traders are expected to closely monitor global and domestic cues for direction in the coming sessions.
