Indian equity benchmarks closed Tuesday’s trade on a higher note. The benchmarks lost momentum in the last hour of the trade, coming off the day’s highs. The Nifty 50 closed the day 31 points or 0.12% higher at 25,108, and the Sensex jumped 137 points or 0.17% to end at 81,927.
In line with the benchmarks, the Nifty Bank settled 135 points or 0.24% higher at 56,240. The midcap stocks also surged in today’s trade. The BSE Midcap declined 208 points, or 0.45%, at 46,196.24. However, the BSE Smallcap finished 80 points or 0.15% lower at 53,190.30.
“The markets maintained their upward momentum for the fourth consecutive session, despite intermittent volatility. After the sharp rally in recent sessions, Nifty formed a shooting star candlestick pattern, indicating a potential short-term pause in the ongoing uptrend,” said Nilesh Jain, Head of Technical and Derivatives Research Analyst at Centrum Broking.
“Nevertheless, the broader trend remains constructive. The RSI has bounced back from oversold territory to 55, reflecting renewed strength in short-term momentum. The support base has now shifted higher to 25,000, and as long as the index stays above this level, a move towards 25,500 in the October series appears likely,” he added.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Monday’s session on a positive note. During the session, out of 3,184 trading stocks, 1,434 advanced, while 1,635 declined, and 115 remained unchanged. Today, 99 stocks hit a fresh 52-week high. Meanwhile, 90 stocks touched a new 52-week low.
Top gainers
Jio Financial Services was the top gainer in the Nifty 50 in Tuesday’s session, closing 1.42% higher. It was followed by Bharti Airtel, HCL Technologies, Bajaj Auto, and Eicher Motors.
Top losers
Tata Motors’ shares were the biggest losers in today’s trade, declining 2%. It was followed by Axis Bank, Trent, Tata Consumer Products, Hindalco, and many others.
Top sectors in Tuesday’s trade
The plastic sector’s stocks rose the most in Tuesday’s volatile trade, rising 2.11% in the market capitalisation. Further, telecommunications stocks were followed by the electronics sector stocks, which were further followed by the paper sector stocks. The sugar stocks stood behind the consumer durables sector. However, the tea and coffee sector stocks fell the most.