The stock market saw a partial recovery on Tuesday after morning losses, with banking and financial stocks leading the gains. The BSE Sensex was down 0.22% at 72,927.70, while the NSE Nifty50 traded at 22,072.25, down 0.21%. The Nifty Next 50 index gained 0.35%, but the Nifty Midcap Select index declined 0.23%. Banking stocks performed well, with the Nifty Bank index rising 0.31% and Nifty Financial Services increasing 0.30%.
State Bank of India was among the top gainers, surging 2.98%, followed by Bharat Electronics Limited, Bharat Petroleum Corporation Limited, Trent, and Tata Consultancy Services. However, the auto sector faced selling pressure, with Bajaj Auto, Hero MotoCorp, and Bajaj Finserv among the top losers. Nestle India and HCL Technologies also recorded losses.
Market breadth was positive, with more stocks advancing than declining. However, there were more stocks hitting 52-week lows than highs, indicating underlying weakness. Global trade concerns and weak crude oil prices continue to impact the market, with foreign institutional investors selling while domestic institutional buying provides some support.
Overall, the market remains cautious amid global uncertainties, with investors closely monitoring developments in trade relations and oil prices.
