The Indian stock market experienced mixed trends on Tuesday, with the Sensex closing higher and the Nifty ending marginally lower in a range-bound trading session. The BSE Sensex closed at 74,602.12, up by 147.71 points or 0.20%, while the NSE Nifty 50 closed at 22,547.55, down by 5.80 points or 0.03%, marking its sixth consecutive session in the red.
According to Vaibhav Vidwani, Research Analyst at Bonanza, the market showed a mixed performance influenced by global trends and limited domestic catalysts. The broader market indicators reflected weakness in mid and small-cap stocks, with a notable 234 stocks hitting their 52-week lows compared to just 49 reaching 52-week highs.
Among the top gainers were Bharti Airtel, Mahindra & Mahindra, Bajaj Finance, Nestle India, and Titan Company. On the other hand, Dr. Reddy’s Laboratories, Hindalco Industries, Trent, Hero MotoCorp, and Sun Pharmaceuticals were among the top losers.
Sector-wise, metals, realty, PSU banks, and oil & gas sectors faced selling pressure, while media, consumer durables, and auto sectors managed to register marginal gains.
The Indian rupee depreciated by 52 paise against the US dollar, with the drop attributed to US President Trump’s statements on tariffs related to Mexico and Canada. In the commodities market, gold traded positively in MCX with rupee weakness providing support to domestic prices.
Technical analysts remain cautious about the market’s immediate outlook, with Shrikant Chouhan of Kotak Securities highlighting key breakout levels for the bulls, and Hrishikesh Yedve of Asit C. Mehta Investment Intermediates pointing out buying interest around 23,500 levels for a potential pullback rally.
Despite a cooling off of the volatility index, market experts advise caution ahead of the monthly derivatives expiry, recommending a balanced approach in stock positions. With FII selling continuing to pressure the market and global uncertainties prevailing, investors are advised to remain cautious in the near term while looking for quality stocks at attractive valuations for potential accumulation.
