On Tuesday, Indian stock markets ended nearly the same, with some IT companies doing well. Investors were careful as they awaited important inflation data from both India and the United States later in the week. The main index, S&P BSE Sensex, fell just 1.59 points to finish at 81,510.05, and the Nifty 50 index dropped by 8.95 points, closing at 24,610.05.
Ajit Mishra, a Senior VP at Religare Broking, noted that the markets stayed steady, with mid-cap and small-cap stocks showing good signs. He advised traders to focus on specific stocks and consider buying unless the Nifty falls below 24,300.
In the U.S., stock markets were mixed as investors waited for important inflation numbers. Some major stocks fell, like Oracle, which dropped 8.4% after reporting lower profits despite good growth in its AI business.
Rupak De, a Senior Technical Analyst at LKP Securities, mentioned that the Nifty remained in a tight range between 24,500 and 24,650. If it drops below 24,470, it could lose another 200 to 250 points, while it faces resistance at 24,700 to 24,750.
The busiest stocks by value on BSE were Syngene International, ITI Ltd, and Tata Motors, while Vodafone Idea was the most active by volume.
Some stocks that saw strong buying interest included Raymond and Nippon Life AMC, while Life Insurance Corporation of India experienced selling pressure.
Overall, market sentiment was mixed, with 2,010 stocks declining and 1,963 gaining among the 4,093 that traded on BSE.
Disclaimer: The opinions and views expressed are from financial experts and don’t reflect the views of Niftystat.
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